Average Rent in Manhattan, New York, NY

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Current Versus Historical Manhattan, New York, NY Rents

Manhattan rentals average $3,377 for a studio rental to $7,996 for a 4-bedroom rental. The median price of all currently available listings is $4,400, or roughly $7 per square feet.
For the apartment units and housing in February 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $183 (5.79%) year-over-year from $3,167 to $3,350. 1-bedroom rentals prices have increased by $43 (1.03%) year-over-year from $4,207 to $4,250. 2-bedroom rentals prices have decreased by $233 (-4.03%) year-over-year from $5,783 to $5,550. 3-bedroom rentals prices have decreased by $454 (-6.40%) year-over-year from $7,095 to $6,641. 4-bedroom rentals prices have increased by $315 (4.10%) year-over-year from $7,680 to $7,995. 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 0.83% this month. 1-bedroom rents have gone up by 0.43% this month. 2-bedroom rents have gone down by 1.68% this month. 3-bedroom rents have gone down by 3.46% this month. 4-bedroom rents have gone down by 2.95% this month.
Beds
Price / Sqft
Feb 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $7.53 $3,350 $3,167 (5.79%) $2,101 (59.47%)
1 BR $6.58 $4,250 $4,207 (1.03%) $2,757 (54.15%)
2 BR $6.55 $5,550 $5,783 (-4.03%) $3,654 (51.90%)
3 BR $6.64 $6,641 $7,095 (-6.40%) $4,648 (42.87%)
4+ BR $6.71 $7,995 $7,680 (4.10%) $5,695 (40.38%)

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 32 cities nearby Manhattan. The average rent in Manhattan is currently $3,149 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 $1,800, 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 $16,999 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 51.33% more expensive than other cities nearby. One bedrooms are about 45.87% more expensive. Two bedrooms in Manhattan, New York, NY are about 43.87% more expensive. Finally, rent for three bedrooms are about 41.88% more expensive. Want more information? Check out the top 10 cities out of 32 total cities near Manhattan, New York, NY in the following chart.
City Studio 1 Bed 2 Bed All
Newark, NJ $2,200 $2,000 $2,100 $2,300
Hackensack, NJ N/A $1,900 $2,500 $2,345
Bayonne, NJ N/A $2,143 $2,400 $2,354
Union City, NJ N/A $2,200 $2,700 $2,795
West New York, NJ N/A $2,600 $3,000 $2,800
Jersey City, NJ $2,300 $2,875 $2,800 $2,900
Fort Lee, NJ $1,613 $2,650 $3,400 $3,098
Cliffside Park, NJ $1,525 $2,650 $3,095 $3,275
Hoboken, NJ $2,500 $3,075 $3,850 $3,391
New York, NY $3,350 $4,088 $4,895 $4,150

Top Neighborhoods Near Manhattan

There are a total of 59 neighborhoods in or near Manhattan. Some of these neighborhoods include Flatbush, Bedford-Stuyvesant, and Washington Heights. We've included the top 30 neighborhoods out of 59 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 $3,895 per month. A total of 37 neighborhoods have a lower average rent. Out of all the neighborhoods in or near Manhattan, Elmhurst has the most affordable average rent at $2,450 per month. Whereas, at $8,200 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
Flatbush, New York, NY $2,800 $2,800 $3,150 $3,000
Bedford-Stuyvesant, New York, NY $2,250 $2,800 $2,999 $3,100
Washington Heights, New York, NY $2,088 $2,250 $2,795 $3,195
Crown Heights, New York, NY $2,800 $2,900 $3,675 $3,200
Bushwick, New York, NY $2,350 $2,875 $3,199 $3,250
Harlem, New York, NY $2,600 $2,995 $3,200 $3,420
West Harlem, New York, NY $2,500 $2,935 $3,200 $3,425
East Harlem, New York, NY $2,999 $3,092 $3,395 $3,500
Murray Hill, New York, NY $3,450 $3,863 $4,402 $3,895
Upper East Side, New York, NY $2,700 $3,550 $5,300 $3,995
Downtown Brooklyn, New York, NY $3,487 $4,118 $5,700 $4,100
Long Island City, New York, NY $3,319 $3,970 $5,600 $4,130
Financial District, New York, NY $3,415 $4,334 $5,619 $4,173
Prospect Heights, New York, NY $3,438 $4,195 $5,981 $4,354
Hell's Kitchen, New York, NY $3,393 $4,060 $5,500 $4,400
Midtown East, New York, NY $3,263 $4,375 $5,895 $4,400
Williamsburg, New York, NY $3,720 $4,311 $4,170 $4,442
Kips Bay, New York, NY $3,715 $3,845 $4,995 $4,485
East Village, New York, NY $2,750 $3,595 $4,495 $4,495
Lower East Side, New York, NY $3,871 $3,250 $4,495 $4,495
Upper West Side, New York, NY $3,038 $4,202 $5,600 $4,500
Hudson Yards, New York, NY $3,575 $4,590 $6,970 $4,818
Chelsea, New York, NY $3,500 $5,160 $7,156 $4,828
Midtown South, New York, NY $3,608 $4,948 $8,160 $4,900
Midtown, New York, NY $3,538 $4,400 $6,950 $4,995
Greenwich Village, New York, NY $4,003 $5,200 $7,850 $5,105
West Village, New York, NY $3,673 $5,125 $6,250 $5,200
NoMad, New York, NY $4,347 $5,546 $8,549 $5,562
Gramercy Park, New York, NY $3,725 $5,000 $5,645 $5,898
Tribeca, New York, NY $4,250 $5,698 $7,395 $6,895

Top Counties Near Manhattan

There are a total of 59 counties located by Manhattan, New York, NY. Some of these counties include Bayonne, NJ, Union City, NJ, and West New York, NJ. The average rent for rentals in these counties is $3,253. 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 $1,800. Vice versa, with an average rent of $16,999, Westport, CT is the most expensive county by Manhattan, New York, NY.

Typically, rent for studios in Manhattan, New York, NY is 45.96% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Manhattan, New York, NY is 43.52% more expensive than other counties nearby. Finally, rent for two bedrooms in Manhattan, New York, NY is 44.95% 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 N/A $2,143 $2,400 $2,354
Union City, NJ N/A $2,200 $2,700 $2,795
West New York, NJ N/A $2,600 $3,000 $2,800
Jersey City, NJ $2,300 $2,875 $2,800 $2,900
Bronx, New York, NY $2,150 $2,475 $2,800 $2,900
North Bergen, NJ $2,900 $2,000 $2,900 $3,000
Fort Lee, NJ $1,613 $2,650 $3,400 $3,098
Cliffside Park, NJ $1,525 $2,650 $3,095 $3,275
Hoboken, NJ $2,500 $3,075 $3,850 $3,391
Brooklyn, New York, NY $3,437 $3,644 $3,675 $3,600

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 $4,314. A total of 27 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 11375, New York, NY at $2,690 per month. In comparison, the zipcode with the most expensive average rent of $9,700 per month is 07762, Spring Lake Heights, NJ.

Studios in these zipcodes have an average rent of $3,263. 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 Manhattan, New York, NY is $3,944 per month. Or in other words, $6 per sqft. Meanwhile, two bedroom apartments will cost you an average of $5,013 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 $3,450 $4,041 $4,850 $4,295
10003, New York, NY $3,500 $4,800 $5,200 $5,075
10019, New York, NY $3,500 $4,095 $5,954 $4,495
10009, New York, NY $2,608 $3,595 $4,495 $4,495
10128, New York, NY $3,226 $3,600 $5,025 $3,937
10038, New York, NY $3,377 $4,334 $5,620 $4,250
10022, New York, NY $3,200 $4,300 $5,695 $4,400
10005, New York, NY $3,550 $4,334 $5,309 $4,170
10011, New York, NY $3,350 $5,200 $6,775 $4,650
10010, New York, NY $3,750 $3,913 $5,603 $5,116

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 $4,400. 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 $3,377 and an average price per square feet of $7.53. There are a total of 3,341 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 $4,249 and an average price per square feet of $6.58. There are a total of 5,701 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 $5,450 and an average price per square feet of $6.55. There are a total of 4,263 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 0.06%, one bedroom rental prices have changed by 0.01%, two bedroom rental prices have changed by -0.04%, and three bedroom rental prices have changed by -0.06% 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 $3,520/month. You can search for these reasonably priced rental listings on RentHop.
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