The Reserve
215 E 124th St,
New York, NY 10035
$1,595 - $5,450
2-4 Beds
Rental Market Trends in Manhattan, NY
What is the average rent in Manhattan, NY?
$4,065/month
Average Rent
593 Sq Ft
Average Apartment Size
+2.5%
Increase in the Last Year
As of March 2026, the average rent in Manhattan, NY is $4,065 per month. This is 150% higher than the national average rent price of $1,626/month, making Manhattan one of the most expensive cities in the US. When you rent an apartment in Manhattan, you can expect to pay about $3,297 per month for a studio, $4,065 for a one-bedroom apartment, and around $5,550 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $7,045 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Manhattan, NY?
In the past year, rent has increased by 2.5%, which averages out to $101 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated March 2026
Legend
2025
2026
Rent Ranges in Manhattan, NY
Last Updated March 2026
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
1%
Below $700/month
2%
$700 - $1,000/month
4%
$1,001 - $1,500/month
9%
$1,501 - $2,000/month
84%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Manhattan?
Based on current rent prices, Sugar Hill, Hamilton Heights and Harlem are the most affordable neighborhoods in Manhattan.
Neighborhood
Average Rent
Average Sq Ft
Which Manhattan neighborhoods have the most rentals available?
The neighborhoods in Manhattan with the most apartments available are Downtown Manhattan, Midtown Manhattan and Midtown South .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Manhattan, NY?
Because the average rent in Manhattan is $4,065, you’ll want to make about $13,550 per month or $162,600 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Manhattan, NY is 138.9% higher than the national average. Generally, housing in Manhattan is 411.3% more expensive than the national average, with rent falling between $3,297 - $7,045. You can expect to pay 16.3% more for groceries, 17.2% more for utilities, and 18.7% more for transportation.
How does Manhattan, NY compare to other nearby cities and neighborhoods?
Use the tool below to compare Manhattan, NY to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,408/month
$4,069/month
One Bedroom
$1,734/month
$5,976/month
Two Bedroom
$2,214/month
$8,483/month
Three Bedroom
$2,886/month
$12,036/month
Nearby City Rent Trends
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Property Management Companies in Manhattan, NY
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12
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10
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
* Percentages may not total 100 due to rounding.