Average Rent in New York, NY

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Current Versus Historical NYC Rents

New York rentals average $3,445 for a studio rental to $8,000 for a 4-bedroom rental. The median price of all currently available listings is $4,274, or roughly $7 per square feet.
For the apartment units and housing in October 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $60 (1.78%) year-over-year from $3,365 to $3,425. 1-bedroom rentals prices have increased by $62 (1.51%) year-over-year from $4,124 to $4,186. 2-bedroom rentals prices have decreased by $102 (-1.88%) year-over-year from $5,397 to $5,295. 3-bedroom rentals prices have decreased by $367 (-5.77%) year-over-year from $6,362 to $5,995. 4-bedroom rentals prices have increased by $467 (5.96%) year-over-year from $7,828 to $8,295. 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 down by 1.34% this month. 1-bedroom rents have gone down by 0.18% this month. 2-bedroom rents have gone down by 1.18% this month. 3-bedroom rents have gone down by 2.47% this month. 4-bedroom rents have gone down by 3.48% this month.
Beds
Price / Sqft
Oct 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $7.60 $3,425 $3,365 (1.78%) $2,578 (32.84%)
1 BR $6.73 $4,186 $4,124 (1.51%) $3,323 (25.96%)
2 BR $6.34 $5,295 $5,397 (-1.88%) $4,333 (22.19%)
3 BR $5.75 $5,995 $6,362 (-5.77%) $4,665 (28.51%)
4+ BR $6.16 $8,295 $7,828 (5.96%) $6,333 (30.98%)

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 17 cities nearby New York. The average rent in New York is currently $3,100 per month. A total of 15 cities nearby have an average rent lower than that. Our records show that Bridgeport, CT, with an average rent of $2,100, is the most affordable city nearby. In contrast, the most expensive city near New York, NY is Spring Lake, NJ. Monthly rents here are on average $8,000 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 50.65% more expensive than other cities nearby. One bedrooms are about 44.11% more expensive. Two bedrooms in New York, NY are about 46.10% more expensive. Finally, rent for three bedrooms are about 30.97% more expensive. Want more information? Check out the top 10 cities out of 17 total cities near New York, NY in the following chart.
City Studio 1 Bed 2 Bed All
Newark, NJ $2,138 $1,600 $2,225 $2,300
West Babylon, NY N/A $2,435 $2,800 $2,555
Asbury Park, NJ $1,650 $2,300 $2,800 $2,725
Yonkers, NY $2,100 $2,348 $2,800 $2,800
White Plains, NY $2,175 $2,625 $3,995 $3,550
Long Beach, NY $2,100 $2,500 $3,200 $3,600
Glen Cove, NY $2,550 $3,200 $3,725 $3,650
Long Branch, NJ N/A $2,900 $3,400 $3,750
New Rochelle, NY $2,050 $3,000 $3,900 $3,825
Harrison, NY $2,570 $3,030 $3,940 $4,000

Top Neighborhoods Near New York

There are a total of 52 neighborhoods in or near New York. Some of these neighborhoods include Flatbush, Central Harlem, 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 $4,307 per month. A total of 25 neighborhoods have a lower average rent. Meaning, only five neighborhoods have a higher average rent than $4,307. Interestingly, the neighborhoods' average rent is higher than New York's average rent, which is only $4,274. Out of all the neighborhoods in or near New York, East Side has the most affordable average rent at $2,293 per month. Whereas, at $8,750 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
Flatbush, New York, NY $2,571 $2,795 $3,150 $3,075
Central Harlem, New York, NY $2,125 $2,695 $3,350 $3,095
Crown Heights, New York, NY $2,785 $2,900 $3,375 $3,200
Bedford-Stuyvesant, New York, NY $2,600 $2,800 $3,195 $3,200
East Harlem, New York, NY $2,650 $2,995 $3,248 $3,250
Harlem, New York, NY $2,600 $2,995 $3,300 $3,300
West Harlem, New York, NY $2,675 $3,200 $3,350 $3,400
Bushwick, New York, NY $2,699 $2,850 $3,283 $3,400
Upper East Side, New York, NY $3,000 $3,595 $4,273 $3,800
Long Island City, New York, NY $3,325 $4,080 $5,901 $4,090
Murray Hill, New York, NY $3,400 $4,300 $6,500 $4,150
Downtown Brooklyn, New York, NY $3,400 $4,176 $5,917 $4,230
Hell's Kitchen, New York, NY $3,450 $4,138 $5,000 $4,300
Financial District, New York, NY $3,495 $4,500 $6,500 $4,314
Prospect Heights, New York, NY $3,585 $4,535 $6,230 $4,400
NoLita, New York, NY $3,498 $3,900 $5,895 $4,495
Midtown East, New York, NY $3,350 $4,445 $6,100 $4,565
Hudson Yards, New York, NY $3,674 $4,573 $6,790 $4,655
Williamsburg, New York, NY $4,000 $4,525 $4,800 $4,750
Greenwich Village, New York, NY $4,225 $5,600 $7,100 $4,775
East Village, New York, NY $3,000 $3,795 $4,995 $4,795
Midtown, New York, NY $3,460 $4,013 $6,188 $4,800
Upper West Side, New York, NY $3,150 $4,375 $7,250 $4,889
West Village, New York, NY $3,706 $4,900 $6,725 $4,900
Kips Bay, New York, NY $3,750 $4,250 $5,433 $4,950
Lower East Side, New York, NY $3,650 $3,277 $4,895 $4,995
Little Italy, New York, NY $3,250 $4,500 $5,200 $5,200
Chelsea, New York, NY $3,700 $5,787 $7,985 $5,360
Gramercy Park, New York, NY $3,645 $5,550 $5,200 $5,495
NoMad, New York, NY $4,432 $5,683 $8,125 $5,803

Top Counties Near New York

There are a total of 52 counties located by New York, NY. Some of these counties include Yonkers, NY, Bronx, New York, NY, and Queens, New York, NY. The average rent for rentals in these counties is $3,400. That's roughly around $3 per sqft. A total of 29 counties have a lower average rent. The county that is the most affordable is Bridgeport, CT. It's average rent per month is $2,100. Vice versa, with an average rent of $8,000, Spring Lake, NJ is the most expensive county by New York, NY.

Typically, rent for studios in New York, NY is 50.65% more expensive than other counties nearby. In comparison, rent for one bedroom listings in New York, NY is 39.52% more expensive than other counties nearby. Finally, rent for two bedrooms in New York, NY is 38.40% more expensive than other counties nearby. We've listed the top 10 counties in the chart below.
County Studio 1 Bed 2 Bed All
Yonkers, NY $2,100 $2,348 $2,800 $2,800
Bronx, New York, NY $2,450 $2,600 $3,200 $3,225
Queens, New York, NY $2,890 $2,800 $3,385 $3,252
Hempstead, NY $2,063 $2,500 $3,200 $3,550
Long Beach, NY $2,100 $2,500 $3,200 $3,600
Glen Cove, NY $2,550 $3,200 $3,725 $3,650
Brooklyn, New York, NY $3,384 $3,887 $3,800 $3,800
New Rochelle, NY $2,050 $3,000 $3,900 $3,825
Manhattan, New York, NY $3,483 $4,354 $5,595 $4,500
North Hempstead, NY N/A $2,700 $4,175 $4,500

Top Zipcodes Near New York

There are a total of 5 zipcodes in or near New York, NY. The average rent for all of these zipcodes is $3,500. A total of 4 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 10463, New York, NY at $2,990 per month. In comparison, the zipcode with the most expensive average rent of $4,350 per month is 10023, New York, NY.

Studios in these zipcodes have an average rent of $2,665. 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 $3,150 per month. Or in other words, $4 per sqft. Meanwhile, two bedroom apartments will cost you an average of $3,840 per month. Which comes out to $4 per sqft. The following chart includes the top 5 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
10128, New York, NY $3,000 $3,500 $4,550 $3,850
10023, New York, NY $2,875 $4,547 $8,273 $4,350
11375, New York, NY $2,665 $3,150 $3,840 $3,500
10035, New York, NY $2,277 $2,470 $3,695 $3,103
10463, New York, NY $2,450 $2,695 $3,350 $2,990

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 $4,274. 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 $3,445 and an average price per square feet of $7.60. There are a total of 3,872 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 $4,200 and an average price per square feet of $6.73. There are a total of 6,629 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 $5,195 and an average price per square feet of $6.34. There are a total of 5,524 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 0.02%, one bedroom rental prices have changed by 0.02%, two bedroom rental prices have changed by -0.02%, and three bedroom rental prices have changed by -0.06% year-over-year.
What is a reasonable rent price in New York, NY?
A reasonable rent price in New York, NY is around $3,419/month. You can search for these reasonably priced rental listings on RentHop.
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