Average Rent in New York

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Current Versus Historical New York Rents

New York rentals average $3,424 for a studio rental to $7,995 for a 4-bedroom rental. The median price of all currently available listings is $4,036, or roughly $6 per square feet.
For the apartment units and housing in December 2024, median rents have fallen substantiallyover the last year. Studio rentals prices have increased by $113 (3.44%) year-over-year from $3,287 to $3,400. 1-bedroom rentals prices have decreased by $419 (-10.54%) year-over-year from $3,977 to $3,558. 2-bedroom rentals prices have decreased by $998 (-19.97%) year-over-year from $4,998 to $4,000. 3-bedroom rentals prices have decreased by $1,345 (-23.83%) year-over-year from $5,645 to $4,300. 4-bedroom rentals prices have increased by $1,187 (17.42%) year-over-year from $6,813 to $8,000. 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 0.13% this month. 1-bedroom rents have gone down by 7.85% this month. 2-bedroom rents have gone down by 13.36% this month. 3-bedroom rents have gone down by 14.57% this month. 4-bedroom rents have gone up by 2.37% this month.
Beds
Price / Sqft
Dec 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $7.38 $3,400 $3,287 (3.44%) $2,632 (29.20%)
1 BR $6.23 $3,558 $3,977 (-10.54%) $3,316 (7.30%)
2 BR $5.05 $4,000 $4,998 (-19.97%) $4,085 (-2.07%)
3 BR $3.25 $4,300 $5,645 (-23.83%) $4,613 (-6.79%)
4+ BR $3.75 $8,000 $6,813 (17.42%) $5,900 (35.59%)

Historical Rents in New York

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near New York

There are a total of 48 cities nearby New York. The average rent in New York is currently $2,846 per month. A total of 43 cities nearby have an average rent lower than that. Our records show that Toledo, OH, with an average rent of $825, is the most affordable city nearby. In contrast, the most expensive city near New York is Hampton Bays, NY. Monthly rents here are on average $22,500 per month.

Let's compare New York's rent against other top cities nearby by bedroom size. Typically, rent for studios in New York is 52.91% more expensive than other cities nearby. One bedrooms are about 43.69% more expensive. Two bedrooms in New York are about 37.78% more expensive. Finally, rent for three bedrooms are about 31.01% more expensive. Want more information? Check out the top 10 cities out of 48 total cities near New York in the following chart.
City Studio 1 Bed 2 Bed All
Scranton, PA N/A $1,100 $1,250 $1,300
Allentown, PA $1,300 $1,175 $1,500 $1,595
Waterbury, CT $1,000 $1,175 $1,600 $1,600
Buffalo, NY $1,150 $1,250 $1,695 $1,638
Bethlehem, PA N/A $1,363 $1,875 $1,798
Danbury, CT $1,483 $2,000 $2,500 $2,650
Yonkers, NY $1,600 $2,200 $2,775 $2,825
Stamford, CT $1,900 $2,275 $3,050 $2,950
White Plains, NY $2,250 $2,650 $3,800 $3,225
Harrison, NY $2,700 $3,000 $4,122 $4,207

Top Neighborhoods Near New York

There are a total of 95 neighborhoods in or near New York. Some of these neighborhoods include North Philadelphia East, Center City East, and Flatbush. We've included the top 30 neighborhoods out of 95 total neighborhoods in or near New York in the following chart.

The average rent for these 30 neighborhoods in or near New York is currently around $3,413 per month. A total of 59 neighborhoods have a lower average rent. Out of all the neighborhoods in or near New York, Cobbs Creek has the most affordable average rent at $1,350 per month. Whereas, at $12,500 average rent per month, SoHo is the most expensive neighborhood in or near New York. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
North Philadelphia East, Philadelphia, PA $1,258 $1,375 $1,650 $1,620
Center City East, Philadelphia, PA $1,245 $1,850 $2,695 $2,078
Flatbush, New York, NY $2,600 $2,750 $3,099 $2,995
Bedford-Stuyvesant, New York, NY $2,600 $2,873 $3,162 $3,200
East Harlem, New York, NY $3,600 $2,975 $3,000 $3,250
Harlem, New York, NY $2,663 $2,796 $3,195 $3,300
Bushwick, New York, NY $2,935 $2,900 $3,249 $3,300
West Harlem, New York, NY $2,644 $2,775 $3,288 $3,413
Crown Heights, New York, NY $2,679 $3,028 $4,075 $3,544
Long Island City, New York, NY $3,281 $3,850 $5,824 $3,973
Upper East Side, New York, NY $3,275 $3,800 $4,850 $3,995
Murray Hill, New York, NY $3,400 $4,150 $6,300 $3,995
Hell's Kitchen, New York, NY $3,350 $3,995 $5,500 $4,100
Financial District, New York, NY $3,450 $4,475 $6,400 $4,200
Prospect Heights, New York, NY $3,550 $4,465 $5,995 $4,300
Downtown Brooklyn, New York, NY $3,447 $4,200 $5,907 $4,301
Hudson Yards, New York, NY $3,490 $4,493 $6,480 $4,444
East Village, New York, NY $2,895 $3,700 $4,495 $4,495
Kips Bay, New York, NY $3,570 $4,185 $5,455 $4,495
Midtown East, New York, NY $3,495 $4,425 $6,206 $4,515
Williamsburg, New York, NY $3,900 $4,600 $4,883 $4,700
Greenwich Village, New York, NY $4,100 $6,138 $7,500 $4,875
Upper West Side, New York, NY $3,250 $4,449 $7,203 $4,902
Lower East Side, New York, NY $3,413 $4,350 $4,653 $4,990
Gramercy Park, New York, NY $3,696 $5,515 $4,995 $5,175
Chelsea, New York, NY $3,950 $5,490 $7,500 $5,218
Little Italy, New York, NY $3,250 $4,500 $4,625 $5,250
Midtown, New York, NY $3,625 $4,250 $6,350 $5,295
West Village, New York, NY $3,698 $5,095 $6,750 $5,375
NoMad, New York, NY $4,284 $5,674 $8,293 $5,724

Top Counties Near New York

There are a total of 95 counties located by New York. Some of these counties include Lackawanna, PA, Erie, NY, and Northampton, PA. The average rent for rentals in these counties is $2,700. That's roughly around $2 per sqft. A total of 49 counties have a lower average rent. The county that is the most affordable is Lackawanna, PA. It's average rent per month is $1,350. Vice versa, with an average rent of $4,495, New York, NY is the most expensive county by New York.

Typically, rent for studios in New York is 54.73% more expensive than other counties nearby. In comparison, rent for one bedroom listings in New York is 52.99% more expensive than other counties nearby. Finally, rent for two bedrooms in New York is 47.83% more expensive than other counties nearby. We've listed the top 10 counties in the chart below.
County Studio 1 Bed 2 Bed All
Lackawanna, PA $773 $1,100 $1,350 $1,350
Erie, NY $1,150 $1,358 $1,673 $1,700
Northampton, PA $475 $1,300 $1,795 $1,800
Lehigh, PA $1,300 $1,250 $1,600 $1,800
Hartford, CT $1,650 $1,697 $1,900 $2,000
Fairfield, CT $1,375 $1,999 $2,700 $2,750
Litchfield, CT N/A $1,800 $1,950 $2,950
Bergen, NJ $1,700 $2,100 $2,900 $3,100
Morris, NJ N/A $2,075 $2,950 $3,175
Westchester, NY $2,175 $2,600 $3,500 $3,700

Top Zipcodes Near New York

There are a total of 21 zipcodes in or near New York. The average rent for all of these zipcodes is $2,800. A total of 18 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 19144, Philadelphia, PA at $1,532 per month. In comparison, the zipcode with the most expensive average rent of $4,799 per month is 10023, New York, NY.

Studios in these zipcodes have an average rent of $2,048. That's at least $4 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near New York is $2,521 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $3,143 per month. Which comes out to $3 per sqft. The following chart includes the top 10 zipcodes in New York. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
10128, New York, NY $3,350 $4,040 $4,950 $3,995
10023, New York, NY $3,250 $4,950 $8,295 $4,799
19104, Philadelphia, PA $1,195 $1,575 $1,800 $1,804
02128, Boston, MA $2,100 $2,525 $2,800 $2,800
22201, Arlington, VA $1,991 $2,297 $3,467 $2,644
02116, Boston, MA $3,000 $3,400 $5,000 $4,250
11375, New York, NY $2,665 $3,150 $3,375 $3,245
02118, Boston, MA $2,048 $3,348 $4,400 $3,925
10035, New York, NY $2,299 $2,550 $3,096 $2,863
02472, Watertown Town, MA $2,680 $2,630 $2,950 $2,975

Frequently Asked Questions - New York Average Rents

What is the average rent price in New York?
The average monthly rental price for New York apartments for rent is approximately $4,036. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do New York 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.
How much is a studio apartment in New York?
The average monthly rental price for studio apartments is $3,424 and an average price per square feet of $7.38. There are a total of 4,362 studio apartment listings currently available for rent in New York.
How much is a one bedroom apartment in New York?
The average monthly rental price for one bedroom apartments is $3,974 and an average price per square feet of $6.23. There are a total of 8,196 one bedroom apartment listings currently available for rent in New York.
How much is a two bedroom apartment in New York?
The average monthly rental price for two bedroom apartments is $4,500 and an average price per square feet of $5.05. There are a total of 7,182 two bedroom apartment listings currently available for rent in New York.
How have rent prices in New York changed this year?
Rent prices for rentals in New York can fluctuate yearly. Specifically, studio rental prices have changed by 0.03%, one bedroom rental prices have changed by -0.11%, two bedroom rental prices have changed by -0.20%, and three bedroom rental prices have changed by -0.24% year-over-year.
What is a reasonable rent price in New York?
A reasonable rent price in New York is around $3,229/month. You can search for these reasonably priced rental listings on RentHop.
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