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 $4,195, or roughly $75 per square feet.
For the apartment units and housing in April 2023, median rents have risen over the last year. Studio rentals prices have increased by $366 (12.07%) year-over-year from $3,034 to $3,400. 1-bedroom rentals prices have increased by $370 (9.67%) year-over-year from $3,825 to $4,195. 2-bedroom rentals prices have increased by $815 (17.78%) year-over-year from $4,585 to $5,400. 3-bedroom rentals prices have increased by $466 (8.90%) year-over-year from $5,232 to $5,698. 4-bedroom rentals prices have increased by $128 (1.98%) year-over-year from $6,467 to $6,595. 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 4.56% this month. 1-bedroom rents have gone up by 1.78% this month. 2-bedroom rents have gone down by 3.43% this month. 3-bedroom rents have gone down by 5.48% this month. 4-bedroom rents have gone down by 2.99% this month.
Beds
Price / Sqft
Apr 2023 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $84 $3,400 $3,034 (12.07%) $2,770 (22.74%)
1 BR $77 $4,195 $3,825 (9.67%) $3,398 (23.44%)
2 BR $72 $5,400 $4,585 (17.78%) $4,128 (30.80%)
3 BR $66 $5,698 $5,232 (8.90%) $5,017 (13.57%)
4+ BR $65 $6,595 $6,467 (1.98%) $6,564 (0.47%)

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 20 cities nearby New York. The average rent in New York is currently $3,625 per month. A total of 12 cities nearby have an average rent lower than that. Our records show that Bridgeport, CT, with an average rent of $1,773, is the most affordable city nearby. In contrast, the most expensive city near New York, NY is Sea Girt, NJ. Monthly rents here are on average $15,000 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 53.53% more expensive than other cities nearby. One bedrooms are about 48.37% more expensive. Two bedrooms in New York, NY are about 42.35% more expensive. Finally, rent for three bedrooms are about 30.97% more expensive. Want more information? Check out the top 10 cities out of 20 total cities near New York, NY in the following chart.
City Studio 1 Bed 2 Bed All
Newark, NJ $2,000 $1,363 $1,850 $2,095
Bayonne, NJ $2,175 $1,650 $2,000 $2,150
Jersey City, NJ $2,300 $2,999 $2,500 $2,750
Union City, NJ $2,100 $2,450 $2,600 $2,750
Fort Lee, NJ $2,040 $2,025 $3,245 $3,098
Hoboken, NJ $3,095 $3,000 $3,975 $3,600
Long Beach, NY $1,950 $2,325 $3,000 $3,650
Long Branch, NJ $1,438 $2,000 $5,000 $4,320
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 East 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 $4,149 per month. A total of 31 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 $6,660 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 $2,000 $2,300 $2,700 $2,799
Flatbush, New York, NY $2,450 $2,571 $2,936 $2,943
East Harlem, New York, NY $3,263 $2,800 $2,895 $3,000
Astoria, New York, NY $2,750 $2,795 $3,050 $3,035
Harlem, New York, NY $2,350 $2,800 $2,995 $3,040
West Harlem, New York, NY $2,350 $2,800 $3,100 $3,088
Bedford-Stuyvesant, New York, NY $2,423 $2,775 $3,000 $3,200
Bushwick, New York, NY $2,588 $2,825 $3,300 $3,211
Upper East Side, New York, NY $2,595 $3,550 $4,758 $3,800
Murray Hill, New York, NY $3,259 $3,995 $4,370 $4,000
Long Island City, New York, NY $3,124 $3,998 $5,775 $4,048
Financial District, New York, NY $3,368 $4,250 $5,895 $4,120
Downtown Brooklyn, New York, NY $3,291 $4,002 $5,695 $4,178
Hell's Kitchen, New York, NY $3,500 $3,650 $4,500 $4,180
East Village, New York, NY $2,699 $3,475 $4,495 $4,195
Kips Bay, New York, NY $3,443 $3,795 $4,595 $4,295
NoLita, New York, NY $3,295 $4,195 $4,995 $4,295
Lower East Side, New York, NY $2,425 $2,950 $4,395 $4,395
Midtown East, New York, NY $3,000 $4,250 $5,899 $4,400
Williamsburg, New York, NY $3,787 $4,300 $4,450 $4,479
Hudson Yards, New York, NY $3,670 $4,250 $6,392 $4,500
Prospect Heights, New York, NY $3,595 $4,350 $6,700 $4,515
Midtown, New York, NY $3,771 $4,100 $5,981 $4,750
Midtown South, New York, NY $3,700 $4,910 $5,839 $4,835
Upper West Side, New York, NY $3,195 $4,309 $6,092 $4,850
Chelsea, New York, NY $3,922 $4,995 $6,934 $4,890
West Village, New York, NY $3,750 $4,795 $5,850 $5,005
Greenwich Village, New York, NY $4,200 $5,300 $5,110 $5,200
NoMad, New York, NY $4,464 $5,370 $6,295 $5,698
Gramercy Park, New York, NY $3,623 $4,450 $5,295 $6,000

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 $3,625. That's roughly around $35 per sqft. A total of 19 counties have a lower average rent. The county that is the most affordable is Bridgeport, CT. It's average rent per month is $1,773. 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 46.13% more expensive than other counties nearby. In comparison, rent for one bedroom listings in New York, NY is 43.68% more expensive than other counties nearby. Finally, rent for two bedrooms in New York, NY is 38.78% 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 $1,363 $1,850 $2,095
Bayonne, NJ $2,175 $1,650 $2,000 $2,150
Staten Island, New York, NY $2,500 $1,600 $2,200 $2,500
Jersey City, NJ $2,300 $2,999 $2,500 $2,750
Union City, NJ $2,100 $2,450 $2,600 $2,750
Queens, New York, NY $1,850 $2,550 $3,000 $2,800
Fort Lee, NJ $2,040 $2,025 $3,245 $3,098
Brooklyn, New York, NY $3,381 $3,755 $3,500 $3,600
Hoboken, NJ $3,095 $3,000 $3,975 $3,600
Manhattan, New York, NY $3,300 $4,075 $5,295 $4,371

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 $4,359. A total of 21 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 $3,225. 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 $3,998 per month. Or in other words, $75 per sqft. Meanwhile, two bedroom apartments will cost you an average of $5,195 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 $4,495 $4,192
10009, New York, NY $2,600 $3,395 $4,481 $3,995
10003, New York, NY $3,500 $4,695 $5,195 $5,300
10038, New York, NY $3,350 $4,297 $5,600 $4,350
10019, New York, NY $3,602 $3,833 $5,195 $4,413
10005, New York, NY $3,350 $4,177 $5,930 $4,025
10128, New York, NY $2,798 $3,600 $4,595 $3,750
10022, New York, NY $2,750 $4,350 $5,650 $4,415
10011, New York, NY $3,600 $5,400 $6,500 $4,995
10025, New York, NY $3,125 $4,181 $5,395 $4,767

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 $4,195. 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 $84.00. There are a total of 4,059 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 $76.99. There are a total of 8,765 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 $4,900 and an average price per square feet of $71.69. There are a total of 6,947 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 0.12%, one bedroom rental prices have changed by 0.10%, two bedroom rental prices have changed by 0.18%, and three bedroom rental prices have changed by 0.09% year-over-year.
What is a reasonable rent price in New York, NY?
A reasonable rent price in New York, NY is around $3,356/month. You can search for these reasonably priced rental listings on RentHop.
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