Average Rent in New York

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Current Versus Historical New York Rents

New York rentals average $3,490 for a studio rental to $8,000 for a 4-bedroom rental. The median price of all currently available listings is $4,250, or roughly $5 per square feet.
For the apartment units and housing in September 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $113 (3.35%) year-over-year from $3,370 to $3,483. 1-bedroom rentals prices have increased by $41 (1.00%) year-over-year from $4,059 to $4,100. 2-bedroom rentals prices have decreased by $84 (-1.66%) year-over-year from $5,079 to $4,995. 3-bedroom rentals prices have decreased by $216 (-3.66%) year-over-year from $5,916 to $5,700. 4-bedroom rentals prices have increased by $803 (11.32%) year-over-year from $7,097 to $7,900. 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 down by 0.23% this month. 1-bedroom rents have gone down by 1.00% this month. 2-bedroom rents have gone down by 2.95% this month. 3-bedroom rents have gone down by 4.44% this month. 4-bedroom rents have gone down by 4.01% this month.
Beds
Price / Sqft
Sep 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $7.45 $3,483 $3,370 (3.35%) $2,473 (40.82%)
1 BR $6.18 $4,100 $4,059 (1.00%) $3,030 (35.31%)
2 BR $4.49 $4,995 $5,079 (-1.66%) $3,959 (26.18%)
3 BR $3.27 $5,700 $5,916 (-3.66%) $4,234 (34.62%)
4+ BR $3.66 $7,900 $7,097 (11.32%) $5,467 (44.51%)

Historical Rents in New York

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near New York

There are a total of 26 cities nearby New York. The average rent in New York is currently $2,900 per month. A total of 23 cities nearby have an average rent lower than that. Our records show that Toledo, OH, with an average rent of $825, is the most affordable city nearby. In contrast, the most expensive city near New York is Spring Lake, NJ. Monthly rents here are on average $8,500 per month.

Let's compare New York's rent against other top cities nearby by bedroom size. Typically, rent for studios in New York is 43.59% more expensive than other cities nearby. One bedrooms are about 42.79% more expensive. Two bedrooms in New York are about 42.27% more expensive. Finally, rent for three bedrooms are about 33.91% more expensive. Want more information? Check out the top 10 cities out of 26 total cities near New York in the following chart.
City Studio 1 Bed 2 Bed All
Philadelphia, PA $1,335 $1,650 $1,800 $1,800
Bridgeport, CT $1,350 $1,600 $2,000 $2,149
New Haven, CT $1,595 $1,550 $2,195 $2,350
Yonkers, NY $2,100 $2,574 $2,800 $2,825
Stamford, CT $2,000 $2,252 $2,954 $2,900
Ocean Grove, NJ $1,600 $1,798 $2,300 $2,938
Long Beach, NY $2,000 $2,475 $3,350 $3,550
Long Branch, NJ N/A $2,900 $3,600 $3,750
New York, NY $3,500 $4,248 $5,200 $4,395
Fire Island, NY $7,750 $14,000 $6,500 $8,000

Top Neighborhoods Near New York

There are a total of 84 neighborhoods in or near New York. Some of these neighborhoods include North Philadelphia West, North Philadelphia East, and Center City East. We've included the top 30 neighborhoods out of 84 total neighborhoods in or near New York in the following chart.

The average rent for these 30 neighborhoods in or near New York is currently around $3,497 per month. A total of 57 neighborhoods have a lower average rent. Out of all the neighborhoods in or near New York, Cobbs Creek has the most affordable average rent at $1,300 per month. Whereas, at $8,000 average rent per month, Ocean Beach is the most expensive neighborhood in or near New York. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
North Philadelphia West, Philadelphia, PA $1,400 $1,283 $1,500 $1,600
North Philadelphia East, Philadelphia, PA $1,107 $1,346 $1,698 $1,698
Center City East, Philadelphia, PA $2,000 $1,923 $2,695 $2,225
Flatbush, New York, NY $2,658 $2,800 $3,300 $3,158
Washington Heights, New York, NY $3,000 $2,500 $2,800 $3,189
Bedford-Stuyvesant, New York, NY $2,600 $2,888 $3,295 $3,295
West Harlem, New York, NY $2,675 $2,995 $3,398 $3,493
East Harlem, New York, NY $2,600 $3,250 $3,295 $3,495
Harlem, New York, NY $2,685 $3,027 $3,300 $3,495
Bushwick, New York, NY $2,950 $3,060 $3,500 $3,499
D Street - West Broadway, Boston, MA $2,500 $3,595 $4,050 $4,000
Midtown, New York, NY $3,000 $3,795 $6,300 $4,065
Upper East Side, New York, NY $2,950 $3,800 $4,550 $4,100
Murray Hill, New York, NY $3,400 $4,200 $6,941 $4,140
Downtown Boston, Boston, MA $3,095 $3,925 $5,300 $4,350
Prospect Heights, New York, NY $3,625 $4,495 $6,895 $4,350
Financial District, New York, NY $3,545 $4,692 $6,500 $4,364
Hell's Kitchen, New York, NY $3,570 $4,178 $5,000 $4,495
Midtown East, New York, NY $3,375 $4,495 $5,995 $4,600
West Village, New York, NY $4,495 $4,700 $6,699 $4,675
Williamsburg, New York, NY $3,915 $4,478 $4,700 $4,774
Hudson Yards, New York, NY $3,800 $4,650 $7,173 $4,950
Greenwich Village, New York, NY $4,400 $5,475 $6,175 $4,950
Upper West Side, New York, NY $3,350 $4,495 $7,210 $4,993
East Village, New York, NY $3,250 $3,750 $4,995 $4,995
Kips Bay, New York, NY $3,783 $4,218 $5,295 $5,000
Chelsea, New York, NY $3,950 $5,585 $8,350 $5,450
Gramercy Park, New York, NY $4,098 $5,038 $5,395 $5,495
NoMad, New York, NY $4,419 $5,534 $8,200 $5,683
Tribeca, New York, NY $4,500 $6,097 $8,340 $7,255

Top Counties Near New York

There are a total of 84 counties located by New York. Some of these counties include Stamford, CT, Bronx, New York, NY, and Islip, NY. The average rent for rentals in these counties is $3,300. That's roughly around $3 per sqft. A total of 26 counties have a lower average rent. The county that is the most affordable is Toledo, OH. It's average rent per month is $825. Vice versa, with an average rent of $30,000, Southampton, NY is the most expensive county by New York.

Typically, rent for studios in New York is 42.69% more expensive than other counties nearby. In comparison, rent for one bedroom listings in New York is 38.13% more expensive than other counties nearby. Finally, rent for two bedrooms in New York is 34.23% more expensive than other counties nearby. We've listed the top 10 counties in the chart below.
County Studio 1 Bed 2 Bed All
Stamford, CT $2,000 $2,252 $2,954 $2,900
Bronx, New York, NY $2,339 $2,584 $3,150 $3,182
Islip, NY $2,350 $2,445 $3,140 $3,342
Queens, New York, NY $2,941 $2,900 $3,400 $3,350
Hempstead, NY $2,150 $2,500 $3,300 $3,500
Long Beach, NY $2,000 $2,475 $3,350 $3,550
Brooklyn, New York, NY $3,435 $3,634 $3,995 $3,834
Oyster Bay, NY $3,200 $2,735 $3,200 $4,395
North Hempstead, NY $2,250 $2,700 $3,875 $4,500
Manhattan, New York, NY $3,535 $4,395 $5,540 $4,600

Top Zipcodes Near New York

There are a total of 47 zipcodes in or near New York. The average rent for all of these zipcodes is $4,250. A total of 24 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 19121, Philadelphia, PA at $1,650 per month. In comparison, the zipcode with the most expensive average rent of $6,475 per month is 10024, New York, NY.

Studios in these zipcodes have an average rent of $3,200. 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 New York is $4,050 per month. Or in other words, $7 per sqft. Meanwhile, two bedroom apartments will cost you an average of $4,998 per month. Which comes out to $6 per sqft. The following chart includes the top 10 zipcodes in New York. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
10016, New York, NY $3,475 $4,300 $5,830 $4,568
10003, New York, NY $4,175 $4,900 $5,395 $5,100
10019, New York, NY $3,300 $4,000 $5,913 $4,495
10009, New York, NY $2,738 $3,695 $4,995 $4,995
10128, New York, NY $3,240 $4,050 $4,550 $4,250
10038, New York, NY $3,600 $4,708 $6,450 $4,560
10022, New York, NY $3,425 $4,400 $5,850 $4,670
10005, New York, NY $3,500 $4,725 $6,500 $4,200
10011, New York, NY $3,700 $4,900 $8,120 $4,500
10010, New York, NY $4,075 $4,525 $5,395 $5,295

Frequently Asked Questions - New York Average Rents

What is the average rent price in New York?
The average monthly rental price for New York apartments for rent is approximately $4,250. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do New York 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 New York.
How much is a studio apartment in New York?
The average monthly rental price for studio apartments is $3,490 and an average price per square feet of $7.45. There are a total of 3,635 studio apartment listings currently available for rent in New York.
How much is a one bedroom apartment in New York?
The average monthly rental price for one bedroom apartments is $4,000 and an average price per square feet of $6.18. There are a total of 7,509 one bedroom apartment listings currently available for rent in New York.
How much is a two bedroom apartment in New York?
The average monthly rental price for two bedroom apartments is $4,850 and an average price per square feet of $4.49. There are a total of 6,722 two bedroom apartment listings currently available for rent in New York.
How have rent prices in New York changed this year?
Rent prices for rentals in New York can fluctuate yearly. Specifically, studio rental prices have changed by 0.03%, one bedroom rental prices have changed by 0.01%, two bedroom rental prices have changed by -0.02%, and three bedroom rental prices have changed by -0.04% year-over-year.
What is a reasonable rent price in New York?
A reasonable rent price in New York is around $3,400/month. You can search for these reasonably priced rental listings on RentHop.
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