Average Rent in Manhattan, New York, NY

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Current Versus Historical Manhattan, New York, NY Rents

Manhattan rentals average $3,595 for a studio rental to $8,625 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 $163 (4.90%) year-over-year from $3,332 to $3,495. 1-bedroom rentals prices have decreased by $132 (-2.97%) year-over-year from $4,432 to $4,300. 2-bedroom rentals prices have decreased by $305 (-5.26%) year-over-year from $5,800 to $5,495. 3-bedroom rentals prices have decreased by $882 (-11.48%) year-over-year from $7,682 to $6,800. 4-bedroom rentals prices have increased by $543 (6.71%) year-over-year from $8,083 to $8,625. 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 3.16% this month. 1-bedroom rents have gone up by 0.86% this month. 2-bedroom rents have gone down by 1.48% this month. 3-bedroom rents have gone up by 1.52% this month. 4-bedroom rents have gone up by 2.58% this month.
Beds
Price / Sqft
Apr 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $7.87 $3,495 $3,332 (4.90%) $2,182 (60.17%)
1 BR $6.87 $4,300 $4,432 (-2.97%) $2,897 (48.45%)
2 BR $6.43 $5,495 $5,800 (-5.26%) $3,782 (45.31%)
3 BR $6.83 $6,800 $7,682 (-11.48%) $4,744 (43.33%)
4+ BR $6.84 $8,625 $8,083 (6.71%) $6,037 (42.87%)

Historical Rents in Manhattan, New York, NY

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Manhattan

There are a total of 34 cities nearby Manhattan. The average rent in Manhattan is currently $3,075 per month. A total of 28 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 Manhattan, New York, NY is Westport, CT. Monthly rents here are on average $15,000 per month.

Let's compare Manhattan, New York, NY's rent against other top cities nearby by bedroom size. Typically, rent for studios in Manhattan, New York, NY is 52.54% more expensive than other cities nearby. One bedrooms are about 47.17% more expensive. Two bedrooms in Manhattan, New York, NY are about 46.40% more expensive. Finally, rent for three bedrooms are about 35.33% more expensive. Want more information? Check out the top 10 cities out of 34 total cities near Manhattan, New York, NY in the following chart.
City Studio 1 Bed 2 Bed All
Hackensack, NJ $1,600 $1,925 $2,700 $2,313
Bayonne, NJ $2,325 $2,057 $2,400 $2,400
West New York, NJ N/A $2,525 $2,850 $2,698
Jersey City, NJ $2,815 $2,650 $2,650 $2,700
Union City, NJ $1,900 $2,300 $2,800 $2,800
Fort Lee, NJ $1,500 $2,365 $3,050 $2,900
Cliffside Park, NJ N/A $2,150 $3,100 $3,000
Hoboken, NJ $3,026 $3,199 $4,250 $3,700
Palisades Park, NJ $1,500 $2,000 $2,935 $3,750
New York, NY $3,529 $4,200 $5,150 $4,395

Top Neighborhoods Near Manhattan

There are a total of 55 neighborhoods in or near Manhattan. Some of these neighborhoods include Washington Heights, Flatbush, and Bedford-Stuyvesant. We've included the top 30 neighborhoods out of 55 total neighborhoods in or near Manhattan, New York, NY in the following chart.

The average rent for these 30 neighborhoods in or near Manhattan, New York, NY is currently around $4,300 per month. A total of 32 neighborhoods have a lower average rent. Out of all the neighborhoods in or near 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 Manhattan. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
Washington Heights, New York, NY $2,000 $2,400 $2,939 $3,149
Flatbush, New York, NY $2,800 $2,995 $3,138 $3,261
Bedford-Stuyvesant, New York, NY $2,375 $2,850 $3,000 $3,300
East Harlem, New York, NY $2,675 $3,165 $3,195 $3,400
Harlem, New York, NY $2,595 $3,095 $3,300 $3,446
Bushwick, New York, NY $2,650 $2,799 $3,450 $3,450
Crown Heights, New York, NY $2,800 $2,800 $3,675 $3,500
West Harlem, New York, NY $2,650 $3,000 $3,400 $3,600
Upper East Side, New York, NY $2,975 $3,600 $4,995 $4,000
Long Island City, New York, NY $3,321 $4,018 $5,950 $4,035
Downtown Brooklyn, New York, NY $3,378 $4,168 $5,765 $4,166
Financial District, New York, NY $3,494 $4,469 $6,388 $4,300
Prospect Heights, New York, NY $3,600 $4,405 $6,068 $4,300
Hell's Kitchen, New York, NY $3,500 $4,065 $6,098 $4,500
Midtown East, New York, NY $3,400 $4,200 $5,595 $4,500
East Village, New York, NY $2,887 $3,625 $4,495 $4,500
Williamsburg, New York, NY $3,611 $4,506 $4,650 $4,650
West Village, New York, NY $4,750 $4,750 $6,495 $4,795
Greenwich Village, New York, NY $4,150 $4,800 $5,075 $4,800
Kips Bay, New York, NY $3,790 $4,120 $5,330 $4,870
Murray Hill, New York, NY $3,625 $4,300 $6,598 $4,900
Upper West Side, New York, NY $3,238 $4,477 $6,325 $4,995
Midtown South, New York, NY $3,785 $4,995 $6,865 $5,000
Hudson Yards, New York, NY $3,675 $4,545 $6,950 $5,000
Lower East Side, New York, NY $3,748 $3,495 $4,495 $5,195
Chelsea, New York, NY $3,995 $5,500 $7,915 $5,250
Midtown, New York, NY $3,607 $4,395 $6,895 $5,500
NoMad, New York, NY $4,449 $5,585 $8,506 $5,698
Gramercy Park, New York, NY $3,815 $5,223 $5,295 $6,039
Tribeca, New York, NY $4,250 $6,000 $7,295 $6,895

Top Counties Near Manhattan

There are a total of 55 counties located by Manhattan, New York, NY. Some of these counties include West New York, NJ, Jersey City, NJ, and Union City, NJ. The average rent for rentals in these counties is $3,427. That's roughly around $3 per sqft. A total of 37 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 $15,000, Westport, CT is the most expensive county by Manhattan, New York, NY.

Typically, rent for studios in Manhattan, New York, NY is 47.15% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Manhattan, New York, NY is 44.57% more expensive than other counties nearby. Finally, rent for two bedrooms in Manhattan, New York, NY is 45.82% more expensive than other counties nearby. We've listed the top 10 counties in the chart below.
County Studio 1 Bed 2 Bed All
West New York, NJ N/A $2,525 $2,850 $2,698
Jersey City, NJ $2,815 $2,650 $2,650 $2,700
Union City, NJ $1,900 $2,300 $2,800 $2,800
North Bergen, NJ $2,149 $2,125 $2,850 $2,850
Fort Lee, NJ $1,500 $2,365 $3,050 $2,900
Cliffside Park, NJ N/A $2,150 $3,100 $3,000
Bronx, New York, NY $2,750 $2,466 $2,900 $3,050
Hoboken, NJ $3,026 $3,199 $4,250 $3,700
Palisades Park, NJ $1,500 $2,000 $2,935 $3,750
Brooklyn, New York, NY $3,495 $3,995 $4,000 $3,899

Top Zipcodes Near Manhattan

There are a total of 50 zipcodes in or near Manhattan, New York, NY. The average rent for all of these zipcodes is $4,463. 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 $3,348. That's at least $8 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Manhattan, New York, NY is $4,088 per month. Or in other words, $7 per sqft. Meanwhile, two bedroom apartments will cost you an average of $5,325 per month. Which comes out to $6 per sqft. The following chart includes the top 10 zipcodes in Manhattan, New York, NY. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
10016, New York, NY $3,750 $4,245 $5,960 $4,795
10003, New York, NY $3,815 $4,800 $5,175 $5,000
10019, New York, NY $3,595 $4,195 $6,500 $4,813
10009, New York, NY $2,625 $3,650 $4,495 $4,500
10128, New York, NY $3,495 $3,795 $5,495 $3,946
10038, New York, NY $3,480 $4,495 $6,375 $4,393
10022, New York, NY $3,350 $4,500 $5,300 $4,500
10005, New York, NY $3,512 $4,583 $6,014 $4,242
10011, New York, NY $3,600 $5,799 $6,278 $4,795
10010, New York, NY $4,050 $4,765 $5,435 $5,393

Frequently Asked Questions - Manhattan Average Rents

What is the average rent price in Manhattan, New York, NY?
The average monthly rental price for 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 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 Manhattan, New York, NY.
How much is a studio apartment in Manhattan, New York, NY?
The average monthly rental price for studio apartments is $3,595 and an average price per square feet of $7.87. There are a total of 3,049 studio apartment listings currently available for rent in Manhattan.
How much is a one bedroom apartment in Manhattan, New York, NY?
The average monthly rental price for one bedroom apartments is $4,375 and an average price per square feet of $6.87. There are a total of 5,307 one bedroom apartment listings currently available for rent in Manhattan.
How much is a two bedroom apartment in Manhattan, New York, NY?
The average monthly rental price for two bedroom apartments is $5,584 and an average price per square feet of $6.43. There are a total of 4,194 two bedroom apartment listings currently available for rent in Manhattan.
How have rent prices in Manhattan, New York, NY changed this year?
Rent prices for rentals in Manhattan, New York, NY can fluctuate yearly. Specifically, studio rental prices have changed by 0.05%, one bedroom rental prices have changed by -0.03%, two bedroom rental prices have changed by -0.05%, and three bedroom rental prices have changed by -0.11% year-over-year.
What is a reasonable rent price in Manhattan, New York, NY?
A reasonable rent price in Manhattan, New York, NY is around $3,676/month. You can search for these reasonably priced rental listings on RentHop.
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