Average Rent in New York, NY

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Current Versus Historical NYC Rents

New York rentals average $3,450 for a studio rental to $7,495 for a 4-bedroom rental. The median price of all currently available listings is $4,250, or roughly $6 per square feet.
For the apartment units and housing in March 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $162 (5.08%) year-over-year from $3,183 to $3,345. 1-bedroom rentals prices have decreased by $13 (-0.31%) year-over-year from $4,108 to $4,095. 2-bedroom rentals prices have decreased by $797 (-13.76%) year-over-year from $5,792 to $4,995. 3-bedroom rentals prices have decreased by $1,165 (-17.48%) year-over-year from $6,665 to $5,500. 4-bedroom rentals prices have increased by $229 (3.20%) year-over-year from $7,166 to $7,395. 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 0.57% this month. 1-bedroom rents have gone down by 0.36% this month. 2-bedroom rents have gone down by 4.07% this month. 3-bedroom rents have gone down by 6.22% this month. 4-bedroom rents have gone up by 1.37% this month.
Beds
Price / Sqft
Mar 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $7.19 $3,345 $3,183 (5.08%) $2,098 (59.41%)
1 BR $6.46 $4,095 $4,108 (-0.31%) $2,638 (55.25%)
2 BR $6.06 $4,995 $5,792 (-13.76%) $3,297 (51.50%)
3 BR $5.65 $5,500 $6,665 (-17.48%) $3,560 (54.49%)
4+ BR $6.38 $7,395 $7,166 (3.20%) $4,684 (57.89%)

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 34 cities nearby New York. The average rent in New York is currently $3,148 per month. A total of 25 cities nearby have an average rent lower than that. Our records show that Bridgeport, CT, with an average rent of $2,000, 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 $17,000 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 62.10% more expensive than other cities nearby. One bedrooms are about 46.08% more expensive. Two bedrooms in New York, NY are about 39.43% more expensive. Finally, rent for three bedrooms are about 28.12% more expensive. Want more information? Check out the top 10 cities out of 34 total cities near New York, NY in the following chart.
City Studio 1 Bed 2 Bed All
Bayonne, NJ N/A $2,054 $2,250 $2,250
Newark, NJ $2,250 $2,097 $2,100 $2,300
Elizabeth, NJ $2,350 $1,888 $2,200 $2,433
West New York, NJ N/A $2,413 $2,650 $2,600
Jersey City, NJ $2,595 $2,600 $2,655 $2,750
Union City, NJ $1,900 $2,300 $2,850 $2,800
Fort Lee, NJ $1,550 $2,813 $3,295 $3,098
Cliffside Park, NJ N/A $1,975 $3,500 $3,150
Hoboken, NJ $3,250 $3,050 $4,200 $3,550
Edgewater, NJ N/A $2,700 $3,700 $3,800

Top Neighborhoods Near New York

There are a total of 52 neighborhoods in or near New York. Some of these neighborhoods include Flatbush, Washington Heights, and Crown Heights. We've included the top 30 neighborhoods out of 52 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 $4,198 per month. A total of 26 neighborhoods have a lower average rent. Meaning, only four neighborhoods have a higher average rent than $4,198. Out of all the neighborhoods in or near New York, The Heights has the most affordable average rent at $2,750 per month. Whereas, at $8,125 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 $2,555 $2,850 $3,248 $3,000
Washington Heights, New York, NY $2,423 $2,475 $2,950 $3,250
Crown Heights, New York, NY $2,800 $2,900 $3,675 $3,295
Bedford-Stuyvesant, New York, NY $2,674 $2,780 $3,000 $3,300
East Harlem, New York, NY $2,750 $3,092 $3,195 $3,395
Bushwick, New York, NY $2,520 $2,900 $3,450 $3,400
Harlem, New York, NY $2,675 $3,029 $3,250 $3,499
West Harlem, New York, NY $2,650 $2,875 $3,400 $3,792
Upper East Side, New York, NY $2,800 $3,450 $4,850 $3,899
Long Island City, New York, NY $3,323 $3,900 $5,600 $3,900
Downtown Brooklyn, New York, NY $3,425 $4,150 $5,733 $4,101
Lower East Side, New York, NY $3,500 $3,495 $4,495 $4,295
Murray Hill, New York, NY $3,500 $4,000 $6,455 $4,295
Prospect Heights, New York, NY $3,495 $4,375 $6,140 $4,300
Midtown East, New York, NY $3,200 $4,295 $5,725 $4,325
Financial District, New York, NY $3,497 $4,390 $6,115 $4,333
Kips Bay, New York, NY $3,780 $3,925 $4,995 $4,405
East Village, New York, NY $2,625 $3,495 $4,495 $4,495
Hell's Kitchen, New York, NY $3,500 $4,250 $5,867 $4,500
Midtown, New York, NY $3,270 $4,475 $6,800 $4,575
Upper West Side, New York, NY $3,282 $4,125 $6,198 $4,584
Williamsburg, New York, NY $3,679 $4,088 $4,550 $4,650
Hudson Yards, New York, NY $3,715 $4,535 $6,672 $4,790
Greenwich Village, New York, NY $4,052 $5,095 $5,088 $4,850
Midtown South, New York, NY $3,495 $4,988 $7,473 $4,995
Chelsea, New York, NY $3,996 $5,078 $7,502 $5,000
West Village, New York, NY $4,475 $4,898 $5,400 $5,250
NoMad, New York, NY $4,365 $5,486 $8,123 $5,662
Gramercy Park, New York, NY $3,815 $5,086 $5,469 $6,275
Tribeca, New York, NY $4,500 $5,710 $7,345 $6,824

Top Counties Near New York

There are a total of 52 counties located by New York, NY. Some of these counties include Bayonne, NJ, Newark, NJ, and West New York, NJ. The average rent for rentals in these counties is $3,414. 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 $2,000. Vice versa, with an average rent of $15,000, Westport, CT is the most expensive county by New York, NY.

Typically, rent for studios in New York, NY is 50.72% more expensive than other counties nearby. In comparison, rent for one bedroom listings in New York, NY is 41.42% more expensive than other counties nearby. Finally, rent for two bedrooms in New York, NY is 37.18% more expensive than other counties nearby. We've listed the top 10 counties in the chart below.
County Studio 1 Bed 2 Bed All
Bayonne, NJ N/A $2,054 $2,250 $2,250
Newark, NJ $2,250 $2,097 $2,100 $2,300
West New York, NJ N/A $2,413 $2,650 $2,600
Jersey City, NJ $2,595 $2,600 $2,655 $2,750
North Bergen, NJ N/A $2,050 $2,800 $2,914
Cliffside Park, NJ N/A $1,975 $3,500 $3,150
Queens, New York, NY $2,954 $2,795 $3,200 $3,200
Hoboken, NJ $3,250 $3,050 $4,200 $3,550
Brooklyn, New York, NY $3,450 $3,861 $3,850 $3,799
Manhattan, New York, NY $3,495 $4,290 $5,492 $4,469

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 $4,317. 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 11375, New York, NY at $2,800 per month. In comparison, the zipcode with the most expensive average rent of $9,950 per month is 07762, Spring Lake Heights, NJ.

Studios in these zipcodes have an average rent of $3,200. 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 $3,990 per month. Or in other words, $6 per sqft. Meanwhile, two bedroom apartments will cost you an average of $5,370 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 $3,540 $4,100 $5,535 $4,400
10003, New York, NY $3,650 $4,775 $4,850 $5,300
10019, New York, NY $3,485 $4,267 $6,198 $4,500
10009, New York, NY $2,625 $3,495 $4,495 $4,395
10128, New York, NY $3,250 $3,300 $5,500 $3,800
10038, New York, NY $3,438 $4,365 $6,346 $4,355
10022, New York, NY $3,200 $4,295 $5,550 $4,295
10005, New York, NY $3,525 $4,432 $5,821 $4,334
10011, New York, NY $3,519 $5,400 $6,395 $4,750
10010, New York, NY $3,650 $4,035 $5,393 $4,995

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 $4,250. 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 $3,450 and an average price per square feet of $7.19. There are a total of 4,068 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 $4,150 and an average price per square feet of $6.46. There are a total of 7,290 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 $4,999 and an average price per square feet of $6.06. There are a total of 5,905 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 0.05%, one bedroom rental prices have changed by 0.00%, two bedroom rental prices have changed by -0.14%, and three bedroom rental prices have changed by -0.17% year-over-year.
What is a reasonable rent price in New York, NY?
A reasonable rent price in New York, NY is around $3,400/month. You can search for these reasonably priced rental listings on RentHop.
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