Rental market trends in New York, NY
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Average Apartment Cost in New York, NY
Apartment Rent Ranges in New York, NY
Apartment Prices Proportion | |
|---|---|
Neighborhood Apartment Rent Trends in New York, NY
| Neighborhood | Studio Avg Rent | Annual Change |
|---|---|---|
| West Village | $5,136 | +56% |
| NoMad | $4,727 | -1% |
| Tribeca | $4,500 | -- |
| Chelsea | $4,327 | +31% |
| Lincoln Square | $4,322 | +11% |
| Harlem | $4,152 | +126% |
| Midtown Manhattan | $4,024 | +36% |
| Hudson Yards | $4,019 | +24% |
| Times Square | $4,000 | +7% |
| Northern Brooklyn | $3,957 | +58% |
| Neighborhood | 1 Bed Avg Rent | Annual Change |
|---|---|---|
| West Village | $7,696 | +71% |
| NoMad | $6,261 | +20% |
| Murray Hill | $5,973 | +71% |
| SoHo | $5,900 | +48% |
| Gramercy Park | $5,500 | +120% |
| Alphabet City | $5,483 | +37% |
| Tribeca | $5,400 | -- |
| Chelsea | $5,249 | +6% |
| Greenwich Village | $5,000 | +43% |
| Yorkville | $4,951 | +60% |
| Neighborhood | 2 Beds Avg Rent | Annual Change |
|---|---|---|
| NoMad | $9,742 | +132% |
| Lincoln Square | $9,604 | +30% |
| West Village | $9,500 | +90% |
| Tribeca | $8,000 | -- |
| Chelsea | $7,655 | +8% |
| Hudson Yards | $7,154 | +31% |
| Greenwich Village | $7,000 | -- |
| Murray Hill | $6,991 | +17% |
| Kips Bay | $6,957 | +55% |
| Rose Hill | $6,957 | +55% |
How Other Cities Compare to New York, NY
| City | Studio Avg Rent | Annual Change |
|---|---|---|
| Brooklyn | $3,677 | +41% |
| Jersey City | $3,240 | +12% |
| Weehawken | $3,212 | -1% |
| Long Island City | $2,968 | -2% |
| North Bergen | $2,695 | +4% |
| Stamford | $2,032 | +23% |
| Newark | $1,850 | -7% |
| Queens | $1,650 | +6% |
| Edison | $1,295 | -51% |
| City | 1 Bed Avg Rent | Annual Change |
|---|---|---|
| Brooklyn | $4,021 | +49% |
| Jersey City | $3,955 | +11% |
| Weehawken | $3,731 | -14% |
| Long Island City | $3,629 | 0% |
| North Bergen | $2,850 | -4% |
| Stamford | $2,533 | +8% |
| Newark | $2,300 | -18% |
| Queens | $2,000 | +3% |
| Edison | $1,990 | +7% |
| City | 2 Beds Avg Rent | Annual Change |
|---|---|---|
| Long Island City | $5,502 | +11% |
| Weehawken | $5,423 | +28% |
| Jersey City | $4,160 | -3% |
| North Bergen | $3,625 | +4% |
| Stamford | $3,375 | +6% |
| Brooklyn | $2,600 | -17% |
| Queens | $2,450 | +7% |
| Edison | $2,367 | +5% |
| Newark | $1,900 | -12% |
New York, NY Rent Trends
| Studio | 1 Bed | 2 Beds | ||||||||||
| Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 |
| $4141 | $4141 | $4137 | $4366 | $4182 | $4123 | $4043 | $3965 | $4052 | $3926 | $3949 | $3882 | $3900 |
| $4670 | $4670 | $4918 | $4928 | $4902 | $4980 | $4605 | $4397 | $4594 | $4574 | $4572 | $4636 | $4670 |
| $3695 | $2375 | $2375 | $2650 | $3399 | $6829 | $2575 | $2700 | $6188 | $6306 | $6360 | $6031 | $6386 |
| $1600 | $1600 | $1675 | $1700 | $1600 | $1775 | $1950 | $2050 | $1950 | $2025 | $1850 | $1800 | $1950 |
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.
What are the most expensive neighborhoods in New York, NY?
The most expensive neighborhoods in New York are West Village, where the average 1-bedroom apartment rent goes for $7,696, NoMad, where renters pay $6,261 on average for a 1-bedroom apartment, and Murray Hill, where the average 1-bedroom apartment rent goes for $5,973. If you're looking for other premium neighborhoods, check out the listings in SoHo ($5,900 for a 1-bedroom apartment) or Gramercy Park ($5,500 for a 1-bedroom apartment), compared to the $4,667 average for a New York 1-bedroom apartment.
What are the most popular neighborhoods in New York, NY?
The most popular neighborhoods in New York are Kips Bay, where the average 1-bedroom apartment rent goes for $4,812, Murray Hill, where renters pay $5,973 on average for a 1-bedroom apartment, and Rose Hill, where the average 1-bedroom apartment rent goes for $4,812. If you're looking for other popular neighborhoods, check out the listings in Gramercy Park ($5,500 for a 1-bedroom apartment) or Turtle Bay ($2,625 for a 1-bedroom apartment), compared to the $4,667 average for a New York 1-bedroom apartment.
