Average Rent in Downtown Manhattan, New York, NY

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Current Versus Historical Downtown Manhattan, New York, NY Rents

Downtown Manhattan rentals average $3,650 for a studio rental to $8,769 for a 4-bedroom rental. The median price of all currently available listings is $4,595, or roughly $7 per square feet.

For the apartment units and housing in May 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $170 (4.82%) year-over-year from $3,525 to $3,695. 1-bedroom rentals prices have decreased by $6 (-0.13%) year-over-year from $4,501 to $4,495. 2-bedroom rentals prices have decreased by $195 (-3.68%) year-over-year from $5,295 to $5,100. 3-bedroom rentals prices have increased by $13 (0.21%) year-over-year from $6,282 to $6,295. 4-bedroom rentals prices have increased by $782 (9.51%) year-over-year from $8,214 to $8,995. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 2.73% this month. 1-bedroom rents have gone up by 0.15% this month. 2-bedroom rents have gone down by 1.89% this month. 3-bedroom rents have gone down by 2.06% this month. 4-bedroom rents have gone up by 3.14% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$7.69	$3,695	$3,525 (4.82%)	$2,456 (50.48%)
1 BR	$6.90	$4,495	$4,501 (-0.13%)	$3,319 (35.43%)
2 BR	$6.84	$5,100	$5,295 (-3.68%)	$4,100 (24.40%)
3 BR	$7.24	$6,295	$6,282 (0.21%)	$4,938 (27.47%)
4+ BR	$6.89	$8,995	$8,214 (9.51%)	$7,269 (23.75%)

Historical Rents in Downtown Manhattan, New York, NY

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Downtown Manhattan

There are a total of 33 cities nearby Downtown Manhattan. The average rent in Downtown Manhattan is currently $3,500 per month. A total of 26 cities nearby have an average rent lower than that. Our records show that Bridgeport, CT, with an average rent of $1,950, is the most affordable city nearby. In contrast, the most expensive city near Downtown Manhattan, New York, NY is Westport, CT. Monthly rents here are on average $16,000 per month.

Let's compare Downtown Manhattan, New York, NY's rent against other top cities nearby by bedroom size. Typically, rent for studios in Downtown Manhattan, New York, NY is 53.42% more expensive than other cities nearby. One bedrooms are about 48.11% more expensive. Two bedrooms in Downtown Manhattan, New York, NY are about 36.96% more expensive. Finally, rent for three bedrooms are about 30.72% more expensive. Want more information? Check out the top 10 cities out of 33 total cities near Downtown Manhattan, New York, NY in the following chart.

City	Studio	1 Bed	2 Bed	All
Newark, NJ	$2,000	$1,900	$2,100	$2,300
Bayonne, NJ	$2,275	$2,047	$2,500	$2,400
West New York, NJ	$1,850	$2,575	$2,850	$2,733
Jersey City, NJ	$2,826	$2,700	$2,650	$2,800
Union City, NJ	$1,900	$2,300	$2,800	$2,800
Fort Lee, NJ	$1,450	$2,250	$3,100	$2,950
Cliffside Park, NJ	N/A	$2,100	$3,375	$3,300
Palisades Park, NJ	N/A	$1,875	$2,625	$3,500
Hoboken, NJ	$3,156	$3,200	$3,950	$3,600
New York, NY	$3,500	$4,200	$5,119	$4,395

Top Neighborhoods Near Downtown Manhattan

There are a total of 52 neighborhoods in or near Downtown Manhattan. Some of these neighborhoods include The Heights, The Waterfront, and Clinton Hill. We've included the top 30 neighborhoods out of 52 total neighborhoods in or near Downtown Manhattan, New York, NY in the following chart.

The average rent for these 30 neighborhoods in or near Downtown Manhattan, New York, NY is currently around $4,435 per month. A total of 29 neighborhoods have a lower average rent. Meaning, only a single neighborhood out of these neighborhoods has a higher average rent. Out of all the neighborhoods in or near Downtown Manhattan, East Side has the most affordable average rent at $1,950 per month. Whereas, at $8,250 average rent per month, Ocean Beach is the most expensive neighborhood in or near Downtown Manhattan. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
The Heights, Jersey City, NJ	N/A	$2,300	$2,560	$2,700
The Waterfront, Jersey City, NJ	$3,026	$3,479	$5,004	$3,617
Clinton Hill, New York, NY	$3,152	$3,600	$6,084	$3,935
Bowery, New York, NY	$2,870	$3,995	$4,253	$3,995
Downtown Brooklyn, New York, NY	$3,400	$4,255	$5,995	$4,264
Prospect Heights, New York, NY	$3,625	$4,395	$5,966	$4,295
Financial District, New York, NY	$3,530	$4,543	$6,495	$4,375
Hell's Kitchen, New York, NY	$3,464	$4,000	$5,995	$4,495
NoLita, New York, NY	$3,595	$4,495	$5,050	$4,495
East Village, New York, NY	$2,700	$3,695	$4,495	$4,595
Murray Hill, New York, NY	$3,510	$4,200	$6,400	$4,600
Hudson Yards, New York, NY	$3,650	$4,300	$6,900	$4,600
Midtown East, New York, NY	$3,550	$4,295	$5,650	$4,690
Williamsburg, New York, NY	$3,745	$4,503	$4,650	$4,750
Greenwich Village, New York, NY	$3,775	$4,800	$5,075	$4,800
West Village, New York, NY	$4,500	$4,773	$6,595	$4,800
Kips Bay, New York, NY	$3,793	$4,075	$5,395	$4,995
Little Italy, New York, NY	$3,900	$5,000	$5,500	$5,000
Lower East Side, New York, NY	$3,300	$3,495	$4,495	$5,057
Flatiron District, New York, NY	$4,050	$5,900	$8,642	$5,073
Midtown South, New York, NY	$3,785	$5,000	$6,904	$5,090
Chelsea, New York, NY	$3,718	$5,464	$7,862	$5,098
Greenpoint, New York, NY	$3,483	$4,400	$5,550	$5,200
Battery Park City, New York, NY	$3,705	$4,539	$6,750	$5,302
NoMad, New York, NY	$4,444	$5,591	$8,404	$5,663
Stuyvesant Town - Peter Cooper Village, New York, NY	N/A	$5,093	$6,075	$5,664
Midtown, New York, NY	$3,300	$4,400	$6,750	$6,206
Gramercy Park, New York, NY	$3,815	$5,118	$5,315	$6,395
SoHo, New York, NY	$4,550	$4,195	$13,500	$6,845
Tribeca, New York, NY	$4,250	$5,848	$7,295	$6,895

Top Counties Near Downtown Manhattan

There are a total of 52 counties located by Downtown Manhattan, New York, NY. Some of these counties include Bayonne, NJ, West New York, NJ, and Jersey City, NJ. The average rent for rentals in these counties is $3,613. That's roughly around $3 per sqft. A total of 36 counties have a lower average rent. The county that is the most affordable is Bridgeport, CT. It's average rent per month is $1,950. Vice versa, with an average rent of $16,000, Westport, CT is the most expensive county by Downtown Manhattan, New York, NY.

Typically, rent for studios in Downtown Manhattan, New York, NY is 49.34% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Downtown Manhattan, New York, NY is 43.66% more expensive than other counties nearby. Finally, rent for two bedrooms in Downtown Manhattan, New York, NY is 37.54% more expensive than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Bayonne, NJ	$2,275	$2,047	$2,500	$2,400
West New York, NJ	$1,850	$2,575	$2,850	$2,733
Jersey City, NJ	$2,826	$2,700	$2,650	$2,800
North Bergen, NJ	$2,149	$2,100	$2,875	$2,800
Fort Lee, NJ	$1,450	$2,250	$3,100	$2,950
Cliffside Park, NJ	N/A	$2,100	$3,375	$3,300
Palisades Park, NJ	N/A	$1,875	$2,625	$3,500
Hoboken, NJ	$3,156	$3,200	$3,950	$3,600
Brooklyn, New York, NY	$3,475	$3,896	$4,000	$3,908
Manhattan, New York, NY	$3,550	$4,365	$5,600	$4,595

Top Zipcodes Near Downtown Manhattan

There are a total of 50 zipcodes in or near Downtown Manhattan, New York, NY. The average rent for all of these zipcodes is $4,482. A total of 29 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 07756, Ocean Grove, NJ at $2,900 per month. In comparison, the zipcode with the most expensive average rent of $8,000 per month is 11770, Ocean Beach, NY.

Studios in these zipcodes have an average rent of $3,330. That's at least $7 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Downtown Manhattan, New York, NY is $4,000 per month. Or in other words, $7 per sqft. Meanwhile, two bedroom apartments will cost you an average of $5,460 per month. Which comes out to $6 per sqft. The following chart includes the top 10 zipcodes in Downtown Manhattan, New York, NY. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
10012, New York, NY	$3,650	$4,470	$5,425	$4,495
10013, New York, NY	$3,950	$5,050	$7,448	$6,295
10002, New York, NY	$3,300	$3,648	$4,495	$4,713
10007, New York, NY	$4,250	$6,500	$8,395	$6,950
10003, New York, NY	$3,650	$4,800	$5,150	$5,472
10038, New York, NY	$3,500	$4,550	$6,350	$4,469
10009, New York, NY	$2,625	$3,695	$4,495	$4,550
10014, New York, NY	$4,750	$5,100	$6,673	$4,895
10005, New York, NY	$3,535	$4,583	$6,540	$4,334
10010, New York, NY	$4,050	$4,870	$5,495	$5,450

Frequently Asked Questions - Downtown Manhattan Average Rents

What is the average rent price in Downtown Manhattan, New York, NY?

The average monthly rental price for Downtown Manhattan, New York, NY apartments for rent is approximately $4,595. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Downtown Manhattan, New York, NY rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Downtown Manhattan, New York, NY.

How much is a studio apartment in Downtown Manhattan, New York, NY?

The average monthly rental price for studio apartments is $3,650 and an average price per square feet of $7.69. There are a total of 1,033 studio apartment listings currently available for rent in Downtown Manhattan.

How much is a one bedroom apartment in Downtown Manhattan, New York, NY?

The average monthly rental price for one bedroom apartments is $4,495 and an average price per square feet of $6.90. There are a total of 1,670 one bedroom apartment listings currently available for rent in Downtown Manhattan.

How much is a two bedroom apartment in Downtown Manhattan, New York, NY?

The average monthly rental price for two bedroom apartments is $5,195 and an average price per square feet of $6.84. There are a total of 1,252 two bedroom apartment listings currently available for rent in Downtown Manhattan.

How have rent prices in Downtown Manhattan, New York, NY changed this year?

Rent prices for rentals in Downtown Manhattan, New York, NY can fluctuate yearly. Specifically, studio rental prices have changed by 0.05%, one bedroom rental prices have changed by 0.00%, two bedroom rental prices have changed by -0.04%, and three bedroom rental prices have changed by 0.00% year-over-year.

What is a reasonable rent price in Downtown Manhattan, New York, NY?

A reasonable rent price in Downtown Manhattan, New York, NY is around $3,676/month. You can search for these reasonably priced rental listings on RentHop.