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 $3,625 for a studio rental to $8,948 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 April 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $80 (2.27%) year-over-year from $3,520 to $3,600. 1-bedroom rentals prices have increased by $113 (2.59%) year-over-year from $4,382 to $4,495. 2-bedroom rentals prices have decreased by $68 (-1.30%) year-over-year from $5,263 to $5,195. 3-bedroom rentals prices have increased by $501 (8.21%) year-over-year from $6,099 to $6,600. 4-bedroom rentals prices have increased by $620 (7.77%) year-over-year from $7,975 to $8,595. 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 1.96% this month. 1-bedroom rents have gone up by 0.30% this month. 2-bedroom rents have gone down by 2.84% this month. 3-bedroom rents have gone up by 3.13% this month. 4-bedroom rents have gone up by 3.18% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$7.43	$3,600	$3,520 (2.27%)	$2,316 (55.42%)
1 BR	$7.00	$4,495	$4,382 (2.59%)	$3,158 (42.35%)
2 BR	$6.75	$5,195	$5,263 (-1.30%)	$3,932 (32.13%)
3 BR	$7.20	$6,600	$6,099 (8.21%)	$4,857 (35.90%)
4+ BR	$8.44	$8,595	$7,975 (7.77%)	$7,219 (19.07%)

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 31 cities nearby Downtown Manhattan. The average rent in Downtown Manhattan is currently $3,000 per month. A total of 25 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 $15,475 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 51.38% more expensive than other cities nearby. One bedrooms are about 48.83% more expensive. Two bedrooms in Downtown Manhattan, New York, NY are about 40.33% more expensive. Finally, rent for three bedrooms are about 32.26% more expensive. Want more information? Check out the top 10 cities out of 31 total cities near Downtown Manhattan, New York, NY in the following chart.

City	Studio	1 Bed	2 Bed	All
Newark, NJ	$2,100	$2,050	$2,100	$2,300
Bayonne, NJ	$2,325	$2,057	$2,422	$2,400
Elizabeth, NJ	$1,861	$1,750	$2,300	$2,400
West New York, NJ	N/A	$2,475	$2,850	$2,695
Jersey City, NJ	$2,815	$2,600	$2,650	$2,700
Union City, NJ	$1,900	$2,300	$2,800	$2,775
Fort Lee, NJ	$1,500	$2,385	$3,173	$2,888
Cliffside Park, NJ	N/A	$2,150	$3,100	$3,000
Hoboken, NJ	$3,066	$3,188	$4,200	$3,700
New York, NY	$3,500	$4,211	$5,110	$4,395

Top Neighborhoods Near Downtown Manhattan

There are a total of 55 neighborhoods in or near Downtown Manhattan. Some of these neighborhoods include The Waterfront, Clinton Hill, and Bowery. We've included the top 30 neighborhoods out of 55 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 $4,334 per month. A total of 32 neighborhoods have a lower average rent. Out of all the neighborhoods in or near Downtown Manhattan, East Side has the most affordable average rent at $1,900 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 Waterfront, Jersey City, NJ	$3,026	$3,510	$5,040	$3,600
Clinton Hill, New York, NY	$3,042	$3,600	$5,997	$3,675
Bowery, New York, NY	$2,870	$3,995	$4,000	$3,995
Brooklyn Heights, New York, NY	$3,750	$4,095	$5,900	$3,995
Fort Greene, New York, NY	$3,500	$4,713	$6,309	$4,020
Downtown Brooklyn, New York, NY	$3,376	$4,195	$5,765	$4,195
Financial District, New York, NY	$3,500	$4,493	$6,375	$4,334
NoLita, New York, NY	$3,595	$4,495	$4,895	$4,495
East Village, New York, NY	$2,850	$3,600	$4,495	$4,495
Midtown East, New York, NY	$3,350	$4,200	$5,595	$4,595
Williamsburg, New York, NY	$3,638	$4,500	$4,650	$4,650
Murray Hill, New York, NY	$3,600	$4,254	$6,569	$4,800
West Village, New York, NY	$4,575	$4,750	$6,250	$4,800
Greenwich Village, New York, NY	$4,150	$4,800	$5,088	$4,800
Kips Bay, New York, NY	$3,785	$4,175	$5,280	$4,835
Greenpoint, New York, NY	$3,495	$4,400	$5,750	$4,899
Midtown South, New York, NY	$3,785	$4,895	$6,865	$4,995
Hudson Yards, New York, NY	$3,775	$4,590	$6,900	$5,000
Little Italy, New York, NY	$3,900	$5,000	$5,500	$5,000
NoHo, New York, NY	$3,850	$5,000	$7,750	$5,000
Flatiron District, New York, NY	$4,050	$5,900	$8,500	$5,150
Lower East Side, New York, NY	$3,498	$3,395	$4,600	$5,195
SoHo, New York, NY	$2,995	$3,950	$13,500	$5,250
Chelsea, New York, NY	$4,150	$5,500	$7,790	$5,337
Battery Park City, New York, NY	$3,550	$4,545	$6,750	$5,500
Midtown, New York, NY	$3,607	$4,400	$6,895	$5,535
NoMad, New York, NY	$4,454	$5,582	$8,506	$5,698
Stuyvesant Town - Peter Cooper Village, New York, NY	N/A	$5,067	$6,075	$5,848
Gramercy Park, New York, NY	$3,815	$5,195	$5,295	$6,039
Tribeca, New York, NY	$4,250	$6,125	$7,295	$6,900

Top Counties Near Downtown Manhattan

There are a total of 55 counties located by Downtown Manhattan, New York, NY. Some of these counties include Newark, NJ, Bayonne, NJ, and West New York, NJ. The average rent for rentals in these counties is $3,498. That's roughly around $3 per sqft. A total of 35 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 $15,475, Westport, CT is the most expensive county by Downtown Manhattan, New York, NY.

Typically, rent for studios in Downtown Manhattan, New York, NY is 47.03% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Downtown Manhattan, New York, NY is 45.32% more expensive than other counties nearby. Finally, rent for two bedrooms in Downtown Manhattan, New York, NY is 40.33% more expensive than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Newark, NJ	$2,100	$2,050	$2,100	$2,300
Bayonne, NJ	$2,325	$2,057	$2,422	$2,400
West New York, NJ	N/A	$2,475	$2,850	$2,695
Jersey City, NJ	$2,815	$2,600	$2,650	$2,700
North Bergen, NJ	$2,250	$2,125	$2,850	$2,850
Fort Lee, NJ	$1,500	$2,385	$3,173	$2,888
Cliffside Park, NJ	N/A	$2,150	$3,100	$3,000
Hoboken, NJ	$3,066	$3,188	$4,200	$3,700
Brooklyn, New York, NY	$3,483	$3,975	$4,008	$3,895
Manhattan, New York, NY	$3,553	$4,390	$5,550	$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 $4,495. 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 $3,000 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 $3,336. 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 $4,049 per month. Or in other words, $7 per sqft. Meanwhile, two bedroom apartments will cost you an average of $5,317 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	$3,495	$4,395	$4,895	$4,495
10013, New York, NY	$3,900	$5,000	$7,500	$6,895
10002, New York, NY	$3,498	$3,695	$4,495	$4,652
10007, New York, NY	$4,250	$6,138	$7,948	$6,575
10003, New York, NY	$3,815	$4,800	$5,075	$4,925
10038, New York, NY	$3,470	$4,500	$6,462	$4,405
10009, New York, NY	$2,625	$3,625	$4,495	$4,495
10014, New York, NY	$4,750	$4,700	$6,750	$4,895
10005, New York, NY	$3,562	$4,510	$5,825	$4,295
10010, New York, NY	$4,050	$4,615	$5,415	$5,330

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 $3,625 and an average price per square feet of $7.43. There are a total of 1,070 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 $7.00. There are a total of 1,686 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 $6.75. There are a total of 1,285 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 0.02%, one bedroom rental prices have changed by 0.03%, two bedroom rental prices have changed by -0.01%, and three bedroom rental prices have changed by 0.08% 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.