Average Rent in New York, NY

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Current Versus Historical NYC Rents

New York rentals average $3,374 for a studio rental to $7,495 for a 4-bedroom rental. The median price of all currently available listings is $4,150, or roughly $6 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 $200 (6.35%) year-over-year from $3,150 to $3,350. 1-bedroom rentals prices have increased by $48 (1.18%) year-over-year from $4,053 to $4,101. 2-bedroom rentals prices have decreased by $555 (-9.75%) year-over-year from $5,690 to $5,135. 3-bedroom rentals prices have decreased by $730 (-11.53%) year-over-year from $6,330 to $5,600. 4-bedroom rentals prices have increased by $497 (7.10%) year-over-year from $6,998 to $7,495. 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 1.01% this month. 1-bedroom rents have gone up by 0.88% this month. 2-bedroom rents have gone down by 2.26% this month. 3-bedroom rents have gone down by 6.55% this month. 4-bedroom rents have gone up by 2.27% this month.
Beds
Price / Sqft
Feb 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $7.19 $3,350 $3,150 (6.35%) $2,073 (61.58%)
1 BR $6.43 $4,101 $4,053 (1.18%) $2,603 (57.57%)
2 BR $6.03 $5,135 $5,690 (-9.75%) $3,280 (56.55%)
3 BR $5.32 $5,600 $6,330 (-11.53%) $3,597 (55.70%)
4+ BR $5.52 $7,495 $6,998 (7.10%) $4,719 (58.82%)

Historical Rents in New York, NY

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near New York

There are a total of 30 cities nearby New York. The average rent in New York is currently $3,150 per month. A total of 23 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 New York, NY is Westport, CT. Monthly rents here are on average $16,999 per month.

Let's compare New York, NY's rent against other top cities nearby by bedroom size. Typically, rent for studios in New York, NY is 52.39% more expensive than other cities nearby. One bedrooms are about 43.43% more expensive. Two bedrooms in New York, NY are about 37.74% more expensive. Finally, rent for three bedrooms are about 27.88% more expensive. Want more information? Check out the top 10 cities out of 30 total cities near New York, NY in the following chart.
City Studio 1 Bed 2 Bed All
Newark, NJ $2,300 $2,000 $2,100 $2,300
Bayonne, NJ N/A $2,156 $2,400 $2,357
Elizabeth, NJ $2,450 $1,725 $2,250 $2,500
Union City, NJ N/A $2,250 $2,700 $2,700
Jersey City, NJ $2,225 $2,900 $2,898 $2,900
West New York, NJ $3,164 $2,600 $3,000 $2,900
Fort Lee, NJ $1,613 $2,750 $3,373 $3,100
Cliffside Park, NJ $1,525 $2,623 $3,095 $3,200
Hoboken, NJ $2,700 $3,150 $3,950 $3,385
Long Beach, NY $2,000 $2,500 $3,775 $3,700

Top Neighborhoods Near New York

There are a total of 60 neighborhoods in or near New York. Some of these neighborhoods include Flatbush, Washington Heights, and Bedford-Stuyvesant. We've included the top 30 neighborhoods out of 60 total neighborhoods in or near New York, NY in the following chart.

The average rent for these 30 neighborhoods in or near New York, NY is currently around $3,843 per month. A total of 35 neighborhoods have a lower average rent. Out of all the neighborhoods in or near New York, Elmhurst has the most affordable average rent at $2,520 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
Flatbush, New York, NY $2,520 $2,800 $3,200 $3,000
Washington Heights, New York, NY $2,075 $2,250 $2,775 $3,050
Bedford-Stuyvesant, New York, NY $2,250 $2,800 $2,999 $3,125
Crown Heights, New York, NY $2,800 $2,900 $3,500 $3,200
Bushwick, New York, NY $2,500 $2,863 $3,199 $3,299
West Harlem, New York, NY $2,500 $2,995 $3,240 $3,425
Harlem, New York, NY $2,598 $2,995 $3,240 $3,425
East Harlem, New York, NY $2,999 $3,007 $3,395 $3,495
Murray Hill, New York, NY $3,400 $3,902 $4,395 $3,895
Upper East Side, New York, NY $2,700 $3,600 $5,298 $4,000
Downtown Brooklyn, New York, NY $3,492 $4,110 $5,713 $4,055
Long Island City, New York, NY $3,309 $3,962 $5,545 $4,140
Financial District, New York, NY $3,400 $4,334 $5,620 $4,171
Hell's Kitchen, New York, NY $3,396 $4,085 $5,565 $4,395
Midtown East, New York, NY $3,213 $4,338 $5,900 $4,400
Prospect Heights, New York, NY $3,451 $4,305 $5,991 $4,430
Kips Bay, New York, NY $3,715 $3,795 $4,950 $4,450
Williamsburg, New York, NY $3,700 $4,352 $4,275 $4,485
Upper West Side, New York, NY $3,028 $4,200 $5,705 $4,495
East Village, New York, NY $2,763 $3,595 $4,495 $4,495
Lower East Side, New York, NY $3,992 $3,250 $4,495 $4,495
Hudson Yards, New York, NY $3,625 $4,495 $6,875 $4,678
Chelsea, New York, NY $3,500 $5,250 $7,195 $4,958
Midtown, New York, NY $3,525 $4,400 $7,025 $4,995
Midtown South, New York, NY $3,608 $4,995 $7,995 $4,995
West Village, New York, NY $3,695 $5,200 $6,150 $5,100
Greenwich Village, New York, NY $4,003 $5,075 $7,850 $5,195
NoMad, New York, NY $4,343 $5,546 $8,506 $5,547
Gramercy Park, New York, NY $3,725 $4,950 $5,645 $5,895
Tribeca, New York, NY $4,500 $5,715 $7,395 $6,895

Top Counties Near New York

There are a total of 60 counties located by New York, NY. Some of these counties include Newark, NJ, Bayonne, NJ, and Jersey City, NJ. The average rent for rentals in these counties is $3,323. That's roughly around $3 per sqft. A total of 33 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 New York, NY.

Typically, rent for studios in New York, NY is 44.80% more expensive than other counties nearby. In comparison, rent for one bedroom listings in New York, NY is 39.78% more expensive than other counties nearby. Finally, rent for two bedrooms in New York, NY is 38.71% 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 $2,300 $2,000 $2,100 $2,300
Bayonne, NJ N/A $2,156 $2,400 $2,357
Jersey City, NJ $2,225 $2,900 $2,898 $2,900
West New York, NJ $3,164 $2,600 $3,000 $2,900
North Bergen, NJ $2,900 $2,050 $2,850 $2,976
Queens, New York, NY $2,705 $2,650 $3,100 $3,100
Cliffside Park, NJ $1,525 $2,623 $3,095 $3,200
Hoboken, NJ $2,700 $3,150 $3,950 $3,385
Brooklyn, New York, NY $3,468 $3,685 $3,660 $3,625
Manhattan, New York, NY $3,395 $4,225 $5,450 $4,400

Top Zipcodes Near New York

There are a total of 50 zipcodes in or near New York, NY. The average rent for all of these zipcodes is $4,338. A total of 19 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 $2,700 per month. In comparison, the zipcode with the most expensive average rent of $9,900 per month is 07762, Spring Lake Heights, NJ.

Studios in these zipcodes have an average rent of $3,280. 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, NY is $3,988 per month. Or in other words, $6 per sqft. Meanwhile, two bedroom apartments will cost you an average of $5,100 per month. Which comes out to $6 per sqft. The following chart includes the top 10 zipcodes in 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 $4,050 $4,850 $4,295
10003, New York, NY $3,650 $4,900 $5,200 $5,200
10019, New York, NY $3,500 $4,113 $5,954 $4,495
10009, New York, NY $2,608 $3,595 $4,495 $4,495
10128, New York, NY $3,226 $3,700 $4,875 $3,950
10038, New York, NY $3,377 $4,291 $5,632 $4,213
10022, New York, NY $3,200 $4,300 $5,800 $4,400
10005, New York, NY $3,548 $4,334 $5,329 $4,173
10011, New York, NY $3,400 $5,215 $6,775 $4,738
10010, New York, NY $3,750 $3,845 $5,619 $5,086

Frequently Asked Questions - New York Average Rents

What is the average rent price in New York, NY?
The average monthly rental price for New York, NY apartments for rent is approximately $4,150. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do 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 New York, NY.
How much is a studio apartment in New York, NY?
The average monthly rental price for studio apartments is $3,374 and an average price per square feet of $7.19. There are a total of 3,997 studio apartment listings currently available for rent in New York.
How much is a one bedroom apartment in New York, NY?
The average monthly rental price for one bedroom apartments is $4,071 and an average price per square feet of $6.43. There are a total of 7,133 one bedroom apartment listings currently available for rent in New York.
How much is a two bedroom apartment in New York, NY?
The average monthly rental price for two bedroom apartments is $4,895 and an average price per square feet of $6.03. There are a total of 5,860 two bedroom apartment listings currently available for rent in New York.
How have rent prices in New York, NY changed this year?
Rent prices for rentals in 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 -0.10%, and three bedroom rental prices have changed by -0.12% year-over-year.
What is a reasonable rent price in New York, NY?
A reasonable rent price in New York, NY is around $3,320/month. You can search for these reasonably priced rental listings on RentHop.
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