Average Rent in New York

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Current Versus Historical New York Rents

New York rentals average $3,345 for a studio rental to $7,595 for a 4-bedroom rental. The median price of all currently available listings is $3,975, or roughly $5 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 $175 (5.59%) year-over-year from $3,125 to $3,300. 1-bedroom rentals prices have decreased by $5 (-0.12%) year-over-year from $4,000 to $3,995. 2-bedroom rentals prices have decreased by $827 (-14.97%) year-over-year from $5,522 to $4,695. 3-bedroom rentals prices have decreased by $853 (-14.35%) year-over-year from $5,948 to $5,095. 4-bedroom rentals prices have increased by $540 (7.96%) year-over-year from $6,780 to $7,320. 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 0.30% this month. 1-bedroom rents have gone up by 0.25% this month. 2-bedroom rents have gone down by 4.15% this month. 3-bedroom rents have gone down by 6.77% this month. 4-bedroom rents have gone up by 5.53% this month.
Beds
Price / Sqft
Feb 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $6.90 $3,300 $3,125 (5.59%) $2,063 (59.96%)
1 BR $5.71 $3,995 $4,000 (-0.12%) $2,563 (55.85%)
2 BR $3.80 $4,695 $5,522 (-14.97%) $3,231 (45.30%)
3 BR $2.87 $5,095 $5,948 (-14.35%) $3,476 (46.56%)
4+ BR $3.82 $7,320 $6,780 (7.96%) $4,600 (59.13%)

Historical Rents in New York

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near New York

There are a total of 50 cities nearby New York. The average rent in New York is currently $2,250 per month. A total of 40 cities nearby have an average rent lower than that. Our records show that Toledo, OH, with an average rent of $850, is the most affordable city nearby. In contrast, the most expensive city near New York is Margate City, NJ. Monthly rents here are on average $20,000 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 58.89% more expensive than other cities nearby. One bedrooms are about 56.68% more expensive. Two bedrooms in New York are about 50.88% more expensive. Finally, rent for three bedrooms are about 40.83% more expensive. Want more information? Check out the top 10 cities out of 50 total cities near New York in the following chart.
City Studio 1 Bed 2 Bed All
Bridgeport, CT $1,025 $1,550 $1,900 $1,800
New Haven, CT $1,685 $1,700 $2,045 $2,195
Paterson, NJ $1,900 $1,625 $1,950 $2,200
Newark, NJ $2,200 $2,025 $2,100 $2,300
Yonkers, NY $2,013 $2,250 $2,850 $2,900
Jersey City, NJ $2,300 $2,800 $2,800 $2,900
Stamford, CT $2,000 $2,300 $3,023 $3,000
Long Beach, NY $2,000 $2,500 $3,500 $3,700
Long Branch, NJ N/A $2,700 $3,858 $4,000
New York, NY $3,365 $4,095 $4,876 $4,125

Top Neighborhoods Near New York

There are a total of 104 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 104 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 $3,349 per month. A total of 71 neighborhoods have a lower average rent. Out of all the neighborhoods in or near New York, Westwood has the most affordable average rent at $875 per month. Whereas, at $10,000 average rent per month, Lower Chelsea 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 $1,295 $1,395 $1,600 $1,600
North Philadelphia West, Philadelphia, PA $1,230 $1,400 $1,598 $1,700
Center City East, Philadelphia, PA $1,395 $1,795 $2,588 $1,995
Flatbush, New York, NY $2,800 $2,742 $3,089 $2,999
Bedford-Stuyvesant, New York, NY $2,250 $2,860 $2,975 $3,149
Washington Heights, New York, NY $2,075 $2,250 $2,795 $3,195
Bushwick, New York, NY $2,350 $2,875 $3,199 $3,250
West Harlem, New York, NY $2,500 $2,875 $3,200 $3,425
Harlem, New York, NY $2,600 $2,995 $3,200 $3,425
East Harlem, New York, NY $2,837 $3,078 $3,395 $3,495
Downtown Boston, Boston, MA $2,825 $3,380 $4,491 $3,800
Murray Hill, New York, NY $3,450 $3,850 $4,395 $3,895
Upper East Side, New York, NY $2,733 $3,500 $5,196 $4,000
D Street - West Broadway, Boston, MA $3,098 $3,795 $4,713 $4,002
Financial District, New York, NY $3,423 $4,334 $5,620 $4,171
Prospect Heights, New York, NY $3,432 $4,195 $5,981 $4,335
Hell's Kitchen, New York, NY $3,433 $4,071 $5,500 $4,400
Midtown East, New York, NY $3,250 $4,375 $5,850 $4,400
Williamsburg, New York, NY $3,723 $4,309 $4,180 $4,442
Kips Bay, New York, NY $3,685 $3,845 $4,995 $4,495
East Village, New York, NY $2,800 $3,595 $4,495 $4,495
Upper West Side, New York, NY $3,028 $4,201 $5,598 $4,500
Hudson Yards, New York, NY $3,625 $4,599 $6,970 $4,706
Chelsea, New York, NY $3,500 $5,195 $7,466 $4,895
Midtown, New York, NY $3,500 $4,375 $6,858 $4,935
Greenwich Village, New York, NY $4,003 $5,200 $6,913 $5,100
West Village, New York, NY $3,695 $5,200 $6,250 $5,500
NoMad, New York, NY $4,419 $5,546 $8,506 $5,551
Gramercy Park, New York, NY $3,725 $5,000 $5,675 $5,925
Tribeca, New York, NY $4,375 $5,708 $7,395 $6,895

Top Counties Near New York

There are a total of 104 counties located by New York. Some of these counties include Newark, NJ, Bronx, New York, NY, and Jersey City, NJ. The average rent for rentals in these counties is $2,944. That's roughly around $2 per sqft. A total of 42 counties have a lower average rent. The county that is the most affordable is Toledo, OH. It's average rent per month is $850. Vice versa, with an average rent of $40,000, Southampton, NY is the most expensive county by New York.

Typically, rent for studios in New York is 50.67% more expensive than other counties nearby. In comparison, rent for one bedroom listings in New York is 45.19% more expensive than other counties nearby. Finally, rent for two bedrooms in New York is 40.20% 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 $2,200 $2,025 $2,100 $2,300
Bronx, New York, NY $2,173 $2,475 $2,800 $2,898
Jersey City, NJ $2,300 $2,800 $2,800 $2,900
Stamford, CT $2,000 $2,300 $3,023 $3,000
Queens, New York, NY $2,800 $2,650 $3,150 $3,100
Hempstead, NY $2,000 $2,450 $3,000 $3,550
Brooklyn, New York, NY $3,429 $3,685 $3,660 $3,600
North Hempstead, NY $2,200 $2,250 $3,400 $3,650
Oyster Bay, NY $2,650 $2,735 $3,000 $3,800
Manhattan, New York, NY $3,392 $4,247 $5,420 $4,399

Top Zipcodes Near New York

There are a total of 50 zipcodes in or near New York. The average rent for all of these zipcodes is $4,129. A total of 22 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 43201, Columbus, OH at $1,600 per month. In comparison, the zipcode with the most expensive average rent of $20,000 per month is 08402, Margate City, NJ.

Studios in these zipcodes have an average rent of $3,109. 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 $3,832 per month. Or in other words, $6 per sqft. Meanwhile, two bedroom apartments will cost you an average of $4,853 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 $3,473 $4,095 $4,850 $4,295
10003, New York, NY $3,450 $4,750 $5,200 $5,000
10019, New York, NY $3,500 $4,100 $5,954 $4,495
10009, New York, NY $2,600 $3,595 $4,495 $4,495
10128, New York, NY $3,242 $3,450 $4,855 $3,950
10038, New York, NY $3,392 $4,300 $5,644 $4,250
10022, New York, NY $3,200 $4,300 $5,689 $4,400
10005, New York, NY $3,540 $4,330 $5,340 $4,159
10011, New York, NY $3,350 $5,200 $6,775 $4,650
10010, New York, NY $3,750 $3,845 $5,615 $5,129

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 $3,975. 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 $3,345 and an average price per square feet of $6.90. There are a total of 4,258 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 $3,900 and an average price per square feet of $5.71. There are a total of 8,073 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 $4,400 and an average price per square feet of $3.80. There are a total of 7,200 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 0.06%, one bedroom rental prices have changed by 0.00%, two bedroom rental prices have changed by -0.15%, and three bedroom rental prices have changed by -0.14% year-over-year.
What is a reasonable rent price in New York?
A reasonable rent price in New York is around $3,180/month. You can search for these reasonably priced rental listings on RentHop.
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