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Rental market trends in New York, NY

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Average Rent in New York, NY

Avg. RentAnnual Change
Studio - $3,894+44%
1 Bed - $4,667+37%
2 Beds - $6,362+72%
Last updated 3/28/2023

Average Apartment Cost in New York, NY

The average rent for apartments in New York, NY, is between $3,894 and $6,362 in 2023. For a studio apartment in New York, NY, the average rent is $3,894. When it comes to 1-bedroom apartments, the average rent in New York, NY, is $4,667. For a 2-bedroom apartment, the average rent is $6,362.

Apartment Rent Ranges in New York, NY

Apartment Prices

Neighborhood Apartment Rent Trends in New York, NY

NeighborhoodStudio Avg RentAnnual Change
West Village$5,136+56%
Lincoln Square$4,322+11%
Midtown Manhattan$4,024+36%
Hudson Yards$4,019+24%
Times Square$4,000+7%
Northern Brooklyn$3,957+58%

How Other Cities Compare to New York, NY

CityStudio Avg RentAnnual Change
Jersey City$3,240+12%
Long Island City$2,968-2%
North Bergen$2,695+4%

New York, NY Rent Trends

Neighborhood Information for New York, NY

What are the most affordable neighborhoods in New York, NY?

The most affordable neighborhoods in New York are Bedford-Stuyvesant, where the average 1-bedroom apartment rent goes for $1,800, Southeastern Queens, where renters pay $1,900 on average for a 1-bedroom apartment, and Eastern Brooklyn, where the average 1-bedroom apartment rent goes for $1,900. If you're looking for other great deals, check out the listings in Northeastern Queens ($2,000 for a 1-bedroom apartment) or Bay Ridge ($2,000 for a 1-bedroom apartment), compared to the $4,667 average for a New York 1-bedroom apartment.