The Reserve
215 E 124th St,
New York, NY 10035
2-4 Beds | $1,879 - $4,977
Rental Market Trends in Manhattan, NY
Updated July 2026
The average rent in Manhattan, NY is $4,185/month.
Rent in Manhattan is 152% higher than the national average rent of $1,662/month, making this one of the more expensive cities statewide.
$4,185/month
Average Rent
591 Sq Ft
Average Size
+2.9%
Change / Year
3,654
Available Apartments
Manhattan rent varies by unit size and layout:
- Studio apartments in Manhattan average $3,387 per month.
- One-bedroom apartments in Manhattan average $4,185 per month.
- Two-bedroom apartments in Manhattan average $5,769 per month.
- Three-bedroom apartments in Manhattan average $7,313 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Manhattan, NY?
In the past year, rent has increased by 2.9%, which averages out to $123 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Manhattan, NY
July 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
85%
Above $2,000/month
Rent by Neighborhood
What are the most affordable neighborhoods in Manhattan?
Based on current rent prices, Harlem, Central Harlem and East Harlem are the most affordable neighborhoods in Manhattan.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Manhattan?
Based on current rent prices, Central Park South, NoHo and SoHo are the most expensive 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 Kips Bay .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Manhattan, NY?
Because the average rent in Manhattan is $4,185, you’ll want to make about $13,950 per month or $167,400 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 136.3% higher than the national average. Generally, housing in Manhattan is 404.0% more expensive than the national average, with rent falling between $3,387 - $7,313. You can expect to pay 15.0% more for groceries, 14.3% more for utilities, and 18.5% 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.
View the Manhattan Area GuideStudio
$2,056/month
$4,018/month
One Bedroom
$2,379/month
$4,216/month
Two Bedroom
$2,893/month
$5,796/month
Three Bedroom
$3,329/month
$13,968/month
Apartment Communities in Manhattan We Think You'll Love
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Frequently Asked Questions
What is the average rent in Manhattan?
The average rent in Manhattan is $4,185 per month, which is 151.8% higher than the national average of $1,662.
What is the average rent for a townhome in Manhattan?
The average rent for a townhome in Manhattan, NY is $7,669 per month.
What is the average rent for a condo in Manhattan?
The average rent for a condo in Manhattan, NY is $4,640 per month.
Are rents going up or down in Manhattan?
Rents in Manhattan, NY are increasing, with prices up 2.9% year-over-year and $123 more per month.
What rent range is most common in Manhattan?
In Manhattan, NY, 85% of apartments fall above $2,000/month, though prices may vary depending on location and other factors.
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 June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.