Average Rent in New York

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Current Versus Historical New York Rents

New York rentals average $3,550 for a studio rental to $8,995 for a 4-bedroom rental. The median price of all currently available listings is $4,495, or roughly $6 per square feet.
For the apartment units and housing in July 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $150 (4.48%) year-over-year from $3,350 to $3,500. 1-bedroom rentals prices have increased by $130 (3.16%) year-over-year from $4,120 to $4,250. 2-bedroom rentals prices have increased by $203 (4.07%) year-over-year from $4,997 to $5,200. 3-bedroom rentals prices have increased by $20 (0.33%) year-over-year from $6,130 to $6,150. 4-bedroom rentals prices have increased by $983 (13.09%) year-over-year from $7,512 to $8,495. 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 0.53% this month. 1-bedroom rents have gone up by 1.15% this month. 2-bedroom rents have gone up by 1.12% this month. 3-bedroom rents have gone up by 0.57% this month. 4-bedroom rents have gone up by 2.80% this month.
Beds
Price / Sqft
Jul 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $7.40 $3,500 $3,350 (4.48%) $2,397 (46.00%)
1 BR $6.36 $4,250 $4,120 (3.16%) $2,917 (45.71%)
2 BR $5.20 $5,200 $4,997 (4.07%) $3,580 (45.25%)
3 BR $3.58 $6,150 $6,130 (0.33%) $4,115 (49.44%)
4+ BR $4.17 $8,495 $7,512 (13.09%) $5,233 (62.32%)

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 $2,875 per month. A total of 24 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 Fire Island, NY. Monthly rents here are on average $8,000 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 47.18% more expensive than other cities nearby. One bedrooms are about 45.17% more expensive. Two bedrooms in New York are about 38.63% more expensive. Finally, rent for three bedrooms are about 37.92% 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
Bridgeport, CT $1,375 $1,650 $1,900 $1,900
Paterson, NJ $1,850 $1,850 $2,100 $2,250
Newark, NJ $1,800 $1,675 $2,050 $2,300
New Haven, CT $1,750 $1,995 $2,200 $2,400
Stamford, CT $1,825 $2,261 $2,938 $3,000
Jersey City, NJ $2,390 $3,271 $3,475 $3,179
Yonkers, NY $2,100 $2,598 $3,400 $3,290
New York, NY $3,585 $4,354 $5,295 $4,495
Long Beach, NY $2,400 $3,300 $3,800 $4,500
Fire Island, NY $7,750 N/A $7,500 $8,000

Top Neighborhoods Near New York

There are a total of 97 neighborhoods in or near New York. Some of these neighborhoods include North Philadelphia East, North Philadelphia West, and Center City East. We've included the top 30 neighborhoods out of 97 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 $3,600 per month. A total of 73 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 $1,338 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 East, Philadelphia, PA $1,153 $1,388 $1,600 $1,650
North Philadelphia West, Philadelphia, PA $1,230 $1,430 $1,500 $1,695
Center City East, Philadelphia, PA $1,468 $1,923 $3,000 $2,160
Flatbush, New York, NY $2,562 $3,100 $3,150 $3,200
Washington Heights, New York, NY $2,175 $2,400 $2,995 $3,300
West Harlem, New York, NY $2,685 $3,100 $3,495 $3,395
Bedford-Stuyvesant, New York, NY $2,438 $2,815 $3,400 $3,400
Harlem, New York, NY $2,650 $2,995 $3,400 $3,500
Bushwick, New York, NY $2,653 $3,000 $3,499 $3,599
East Harlem, New York, NY $2,495 $2,995 $3,395 $3,795
Downtown Boston, Boston, MA $2,865 $3,453 $4,544 $3,900
D Street - West Broadway, Boston, MA $3,179 $3,718 $4,600 $4,041
Prospect Heights, New York, NY $3,600 $4,413 $5,991 $4,165
Upper East Side, New York, NY $2,900 $3,600 $5,000 $4,195
Financial District, New York, NY $3,695 $4,720 $6,780 $4,420
Murray Hill, New York, NY $3,400 $4,595 $7,407 $4,495
West Village, New York, NY $3,995 $4,650 $7,445 $4,550
Hell's Kitchen, New York, NY $3,700 $4,500 $5,885 $4,595
Midtown East, New York, NY $3,400 $4,475 $6,361 $4,625
Greenwich Village, New York, NY $4,100 $5,095 $4,395 $4,800
Upper West Side, New York, NY $3,450 $4,250 $7,000 $4,906
Midtown, New York, NY $3,523 $4,750 $6,995 $4,968
Kips Bay, New York, NY $3,845 $4,070 $5,345 $4,995
Williamsburg, New York, NY $3,947 $4,699 $5,200 $5,000
East Village, New York, NY $2,700 $3,850 $5,200 $5,295
Hudson Yards, New York, NY $3,590 $5,000 $7,600 $5,300
Chelsea, New York, NY $4,123 $5,476 $8,000 $5,405
Gramercy Park, New York, NY $3,725 $4,895 $5,495 $5,495
NoMad, New York, NY $4,395 $5,663 $8,123 $5,781
Tribeca, New York, NY $4,500 $5,999 $8,340 $7,195

Top Counties Near New York

There are a total of 97 counties located by New York. Some of these counties include Newark, NJ, Stamford, CT, and Jersey City, NJ. The average rent for rentals in these counties is $3,250. That's roughly around $3 per sqft. A total of 23 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 42.68% more expensive than other counties nearby. In comparison, rent for one bedroom listings in New York is 37.38% more expensive than other counties nearby. Finally, rent for two bedrooms in New York is 32.45% 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 $1,800 $1,675 $2,050 $2,300
Stamford, CT $1,825 $2,261 $2,938 $3,000
Jersey City, NJ $2,390 $3,271 $3,475 $3,179
Bronx, New York, NY $2,491 $2,625 $3,200 $3,200
Queens, New York, NY $2,919 $3,100 $3,702 $3,500
Brooklyn, New York, NY $3,500 $3,893 $4,200 $4,000
Hempstead, NY $2,498 $2,950 $3,600 $4,200
Oyster Bay, NY $3,500 $2,820 $3,858 $4,600
Manhattan, New York, NY $3,600 $4,495 $5,599 $4,698
North Hempstead, NY $3,199 $3,500 $4,175 $4,900

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 $4,304. 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 19121, Philadelphia, PA at $1,725 per month. In comparison, the zipcode with the most expensive average rent of $5,895 per month is 10013, New York, NY.

Studios in these zipcodes have an average rent of $3,250. 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 $4,095 per month. Or in other words, $7 per sqft. Meanwhile, two bedroom apartments will cost you an average of $5,250 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 $3,550 $4,384 $5,799 $4,850
10003, New York, NY $3,900 $4,845 $5,250 $5,070
10019, New York, NY $3,700 $4,570 $6,300 $4,708
10009, New York, NY $2,660 $3,798 $5,250 $5,295
10128, New York, NY $3,250 $3,900 $5,193 $4,200
10038, New York, NY $3,770 $4,733 $6,390 $4,598
10022, New York, NY $3,450 $4,650 $6,250 $4,800
10005, New York, NY $3,712 $4,895 $7,619 $4,304
10011, New York, NY $3,925 $5,423 $8,258 $4,750
10010, New York, NY $3,955 $4,878 $5,395 $4,995

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 $4,495. 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 $3,550 and an average price per square feet of $7.40. There are a total of 3,665 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 $4,200 and an average price per square feet of $6.36. There are a total of 7,241 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 $5,000 and an average price per square feet of $5.20. There are a total of 6,565 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 0.04%, one bedroom rental prices have changed by 0.03%, 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 New York?
A reasonable rent price in New York is around $3,596/month. You can search for these reasonably priced rental listings on RentHop.
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