Average Rent in New York, NY

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Current Versus Historical NYC Rents

New York rentals average $3,295 for a studio rental to $6,995 for a 4-bedroom rental. The median price of all currently available listings is $4,176, or roughly $75 per square feet.
For the apartment units and housing in March 2023, median rents have risen substantially over the last year. Studio rentals prices have increased by $384 (13.39%) year-over-year from $2,869 to $3,253. 1-bedroom rentals prices have increased by $438 (11.67%) year-over-year from $3,757 to $4,195. 2-bedroom rentals prices have increased by $1,265 (29.21%) year-over-year from $4,330 to $5,595. 3-bedroom rentals prices have increased by $1,378 (27.48%) year-over-year from $5,017 to $6,395. 4-bedroom rentals prices have increased by $583 (9.09%) year-over-year from $6,417 to $7,000. 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 3.24% this month. 1-bedroom rents have gone up by 4.35% this month. 2-bedroom rents have gone down by 0.47% this month. 3-bedroom rents have gone up by 4.35% this month. 4-bedroom rents have gone up by 0.96% this month.
Beds
Price / Sqft
Mar 2023 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $84 $3,253 $2,869 (13.39%) $2,777 (17.15%)
1 BR $77 $4,195 $3,757 (11.67%) $3,407 (23.14%)
2 BR $71 $5,595 $4,330 (29.21%) $4,143 (35.04%)
3 BR $65 $6,395 $5,017 (27.48%) $5,083 (25.81%)
4+ BR $65 $7,000 $6,417 (9.09%) $6,531 (7.18%)

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 19 cities nearby New York. The average rent in New York is currently $3,675 per month. A total of 11 cities nearby have an average rent lower than that. Our records show that Bridgeport, CT, with an average rent of $1,763, is the most affordable city nearby. In contrast, the most expensive city near New York, NY is Spring Lake, NJ. Monthly rents here are on average $10,000 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 59.03% more expensive than other cities nearby. One bedrooms are about 47.43% more expensive. Two bedrooms in New York, NY are about 38.59% more expensive. Finally, rent for three bedrooms are about 29.25% more expensive. Want more information? Check out the top 10 cities out of 19 total cities near New York, NY in the following chart.
City Studio 1 Bed 2 Bed All
Newark, NJ $2,000 $1,375 $1,825 $2,100
Bayonne, NJ N/A $1,800 $2,000 $2,150
Union City, NJ $3,500 $2,275 $2,600 $2,750
Jersey City, NJ $2,300 $3,113 $2,500 $2,800
Fort Lee, NJ $2,040 $2,225 $3,245 $3,150
Hoboken, NJ $3,220 $3,275 $4,150 $3,675
Long Beach, NY $1,850 $3,488 $3,275 $4,200
Long Branch, NJ N/A $2,000 $4,993 $4,300
West Long Branch, NJ N/A N/A N/A $5,500
Oakhurst, NJ N/A N/A $18,000 $5,800

Top Neighborhoods Near New York

There are a total of 56 neighborhoods in or near New York. Some of these neighborhoods include Washington Heights, Flatbush, and Harlem. We've included the top 30 neighborhoods out of 56 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 $4,148 per month. A total of 30 neighborhoods have a lower average rent. Out of all the neighborhoods in or near New York, Briarwood has the most affordable average rent at $1,650 per month. Whereas, at $6,495 average rent per month, Tribeca is the most expensive neighborhood in or near New York. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
Washington Heights, New York, NY $2,025 $2,300 $2,700 $2,699
Flatbush, New York, NY $2,450 $2,725 $2,895 $2,985
Harlem, New York, NY $2,350 $2,800 $2,900 $3,000
Astoria, New York, NY $2,626 $2,795 $3,050 $3,000
East Harlem, New York, NY $3,000 $2,775 $2,895 $3,000
West Harlem, New York, NY $2,325 $2,800 $3,000 $3,050
Bedford-Stuyvesant, New York, NY $2,451 $2,725 $3,048 $3,150
Bushwick, New York, NY $2,544 $2,938 $3,300 $3,224
Upper East Side, New York, NY $2,527 $3,500 $4,795 $3,773
Murray Hill, New York, NY $3,250 $3,953 $4,273 $3,995
Long Island City, New York, NY $3,150 $4,000 $5,710 $4,041
Financial District, New York, NY $3,350 $4,214 $5,668 $4,125
Hell's Kitchen, New York, NY $3,500 $3,686 $5,075 $4,170
Downtown Brooklyn, New York, NY $3,225 $4,001 $5,600 $4,171
East Village, New York, NY $2,700 $3,395 $4,495 $4,195
Kips Bay, New York, NY $3,428 $3,750 $4,595 $4,295
NoLita, New York, NY $3,295 $4,195 $4,995 $4,295
Midtown East, New York, NY $3,000 $4,250 $5,862 $4,375
Lower East Side, New York, NY $2,425 $2,950 $4,395 $4,395
Williamsburg, New York, NY $3,815 $4,300 $4,300 $4,450
Hudson Yards, New York, NY $3,719 $4,290 $6,462 $4,500
Prospect Heights, New York, NY $3,595 $4,350 $6,700 $4,505
Midtown, New York, NY $3,763 $3,998 $5,995 $4,700
Midtown South, New York, NY $3,729 $4,900 $5,683 $4,795
Upper West Side, New York, NY $3,195 $4,335 $6,000 $4,795
Chelsea, New York, NY $3,870 $5,008 $6,495 $4,890
West Village, New York, NY $4,057 $4,798 $6,250 $5,200
Greenwich Village, New York, NY $4,200 $5,300 $5,135 $5,200
NoMad, New York, NY $4,494 $5,525 $6,295 $5,741
Gramercy Park, New York, NY $3,531 $4,500 $5,295 $6,013

Top Counties Near New York

There are a total of 56 counties located by New York, NY. Some of these counties include Newark, NJ, Bayonne, NJ, and Staten Island, New York, NY. The average rent for rentals in these counties is $3,638. That's roughly around $36 per sqft. A total of 17 counties have a lower average rent. The county that is the most affordable is Bridgeport, CT. It's average rent per month is $1,763. Vice versa, with an average rent of $10,000, Spring Lake, NJ is the most expensive county by New York, NY.

Typically, rent for studios in New York, NY is 50.00% more expensive than other counties nearby. In comparison, rent for one bedroom listings in New York, NY is 44.93% more expensive than other counties nearby. Finally, rent for two bedrooms in New York, NY is 38.34% 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 $2,000 $1,375 $1,825 $2,100
Bayonne, NJ N/A $1,800 $2,000 $2,150
Staten Island, New York, NY $2,550 $1,575 $2,250 $2,500
Union City, NJ $3,500 $2,275 $2,600 $2,750
Jersey City, NJ $2,300 $3,113 $2,500 $2,800
Queens, New York, NY $2,540 $2,500 $3,050 $2,895
Fort Lee, NJ $2,040 $2,225 $3,245 $3,150
Brooklyn, New York, NY $3,348 $3,762 $3,528 $3,600
Hoboken, NJ $3,220 $3,275 $4,150 $3,675
Manhattan, New York, NY $3,300 $4,055 $5,300 $4,350

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 $4,295. A total of 20 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 07002, Bayonne, NJ at $2,150 per month. In comparison, the zipcode with the most expensive average rent of $10,000 per month is 07762, Spring Lake Heights, NJ.

Studios in these zipcodes have an average rent of $3,086. That's at least $85 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 $3,946 per month. Or in other words, $76 per sqft. Meanwhile, two bedroom apartments will cost you an average of $5,273 per month. Which comes out to $71 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 $3,300 $3,995 $4,400 $4,095
10009, New York, NY $2,600 $3,395 $4,395 $4,100
10003, New York, NY $3,600 $4,800 $5,295 $5,300
10038, New York, NY $3,340 $4,225 $5,495 $4,258
10019, New York, NY $3,595 $3,850 $5,500 $4,471
10005, New York, NY $3,350 $4,191 $5,815 $4,047
10128, New York, NY $2,750 $3,600 $4,595 $3,700
10022, New York, NY $2,855 $4,350 $5,650 $4,495
10011, New York, NY $3,600 $5,400 $6,398 $4,995
10025, New York, NY $2,982 $4,119 $5,398 $4,689

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 $4,176. 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 $3,295 and an average price per square feet of $83.93. There are a total of 4,170 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 $3,995 and an average price per square feet of $76.56. There are a total of 8,828 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 $4,926 and an average price per square feet of $71.38. There are a total of 6,990 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 0.13%, one bedroom rental prices have changed by 0.12%, two bedroom rental prices have changed by 0.29%, and three bedroom rental prices have changed by 0.27% year-over-year.
What is a reasonable rent price in New York, NY?
A reasonable rent price in New York, NY is around $3,341/month. You can search for these reasonably priced rental listings on RentHop.
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