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Rental Market Trends in New York, NY

Updated September 2026

The average rent in New York, NY is $4,193/month.

Rent in New York is 152% higher than the national average rent of $1,665/month, making this one of the more expensive cities statewide.

$4,193/month

Average Rent

590 Sq Ft

Average Size

+3.1%

Change / Year

6,871

Available Apartments

New York rent varies by unit size and layout:

  • Studio apartments in New York average $3,400 per month.
  • One-bedroom apartments in New York average $4,193 per month.
  • Two-bedroom apartments in New York average $5,818 per month.
  • Three-bedroom apartments in New York average $7,377 or more per month.

Average Rent by Home Type

Bedrooms
Average Rent
Average Sq Ft
Studio
$3,400/month
439 Sq Ft
One Bedroom
$4,193/month
590 Sq Ft
Two Bedroom
$5,818/month
796 Sq Ft
Three Bedroom
$7,377/month
976 Sq Ft
Bedrooms
Average Rent
Average Sq Ft
One Bedroom
$2,195/month
392 Sq Ft
Two Bedroom
$3,505/month
488 Sq Ft
Three Bedroom
$4,162/month
1,057 Sq Ft
Four Bedroom
$6,650/month
1,515 Sq Ft
Bedrooms
Average Rent
Average Sq Ft
One Bedroom
$3,987/month
392 Sq Ft
Two Bedroom
$5,085/month
394 Sq Ft
Three Bedroom
$3,457/month
284 Sq Ft
Four Bedroom
$2,015/month
70 Sq Ft
Bedrooms
Average Rent
Average Sq Ft
One Bedroom
$3,790/month
624 Sq Ft
Two Bedroom
$4,562/month
1,170 Sq Ft
Three Bedroom
$4,796/month
1,158 Sq Ft
Four Bedroom
$10,035/month
1,563 Sq Ft
View New York Apartments

How much has average rent changed in New York, NY?

In the past year, rent has increased by 3.1%, which averages out to $131 more per month.

Market Trends Over Time

September 2026

2025 2026
Market Trends Over Time

Rent Ranges in New York, NY

September 2026
Above $2,000
Most rental prices fall within this range
Rent Ranges in New York, NY
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

  • Most Affordable
  • Most Expensive
  • Most Available

What are the most affordable neighborhoods in New York?

Based on current rent prices, Hamilton Heights, Central Harlem and Harlem are the most affordable neighborhoods in New York.

Calculate Rent Affordability
Neighborhood
Average Rent
Average Sq Ft
Hamilton Heights
$3,006/month
619 Sq Ft
Central Harlem
$3,468/month
723 Sq Ft
Harlem
$3,663/month
657 Sq Ft
East Harlem
$4,326/month
693 Sq Ft
Alphabet City
$4,952/month
499 Sq Ft
Yorkville
$5,200/month
607 Sq Ft
Meatpacking District
$5,254/month
534 Sq Ft
Rose Hill
$5,269/month
556 Sq Ft
Turtle Bay
$5,321/month
632 Sq Ft
Hell's Kitchen
$5,368/month
583 Sq Ft

What are the most expensive neighborhoods in New York?

Based on current rent prices, SoHo, Greenwich Village and NoHo are the most expensive neighborhoods in New York.

Calculate Rent Affordability
Neighborhood
Average Rent
Average Sq Ft
SoHo
$8,080/month
746 Sq Ft
Greenwich Village
$8,061/month
669 Sq Ft
NoHo
$7,718/month
684 Sq Ft
Central Park South
$7,590/month
692 Sq Ft
Lower West Side
$7,569/month
657 Sq Ft
West Village
$7,260/month
587 Sq Ft
Bowery
$7,244/month
660 Sq Ft
Union Square
$7,045/month
648 Sq Ft
Nolita
$7,030/month
648 Sq Ft
Little Italy/Chinatown
$6,869/month
679 Sq Ft

Which New York neighborhoods have the most rentals available?

The neighborhoods in New York with the most apartments available are Downtown Manhattan, Midtown Manhattan and Midtown South .

Calculate Rent Affordability
Neighborhood
Average Rent
Average Sq Ft
Downtown Manhattan
$6,453/month
640 Sq Ft
Midtown Manhattan
$5,712/month
642 Sq Ft
Midtown South
$6,412/month
611 Sq Ft
Midtown West
$5,858/month
607 Sq Ft
Lower West Side
$7,569/month
657 Sq Ft
Kips Bay
$5,389/month
658 Sq Ft
Chelsea
$6,755/month
622 Sq Ft
Financial District
$5,735/month
731 Sq Ft
Greenwich Village
$8,061/month
669 Sq Ft
Midtown East
$5,793/month
639 Sq Ft
This information is based on data collected by CoStar Group researchers.†

What salary do I need to live comfortably in New York, NY?

Because the average rent in New York is $4,193, you’ll want to make about $13,976 per month or $167,712 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 New York, NY is 136.3% higher than the national average. Generally, housing in New York is 404.0% more expensive than the national average, with rent falling between $3,400 - $7,377. You can expect to pay 15.0% more for groceries, 14.3% more for utilities, and 18.5% more for transportation.

City

New York, NY

6,871 Available Apartments for Rent

Search for Nearby Apartments

How does New York, NY compare to other nearby cities and neighborhoods?

Use the tool below to compare New York, 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 New York Area Guide

Apartment Averages

Hamilton Heights

New York, NY

SoHo

New York, NY

Studio
$1,763/month
$2,538/month
One Bedroom
$1,953/month
$3,429/month
Two Bedroom
$2,463/month
$4,611/month
Three Bedroom
$3,086/month
$7,263/month
View Rentals
View Rentals

Compare Rent Trends Nearby

Get a clearer picture of the area by viewing rent trends in nearby cities.

  • Hoboken

    Hoboken

    Avg Rent: $3,860/month

  • Brooklyn

    Brooklyn

    Avg Rent: $3,087/month

  • Long Island City

    Long Island City

    Avg Rent: $3,740/month

  • Woodside

    Woodside

    Avg Rent: $2,331/month

  • Weehawken

    Weehawken

    Avg Rent: $3,746/month

  • Jersey City

    Jersey City

    Avg Rent: $3,270/month

Apartment Communities in New York We Think You'll Love

10 Halletts Point

10 Halletts Point

10, 20, 30 Halletts Pt,
Astoria, NY 11102

2 Beds | $5,074 - $6,483

The Riverdale Tower

The Riverdale Tower

3745 Riverdale Ave,
The Bronx, NY 10463

Studio - 2 Beds | $2,200 - $4,500

The Station Apartments

The Station Apartments

5959 Broadway,
Bronx, NY 10463

Studio - 1 Bed | $1,750 - $2,300

The Equestrian At Pelham Parkway

The Equestrian At Pelham Parkway

1680 Pelham Pkwy S,
Bronx, NY 10461

Studio - 2 Beds | $1,850 - $2,900

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Frequently Asked Questions

What is the average rent in New York?

The average rent in New York is $4,193 per month, which is 151.8% higher than the national average of $1,665.

What is the average rent for a house in New York?

The average rent for a house in New York, NY is $4,162 per month.

What is the average rent for a townhome in New York?

The average rent for a townhome in New York, NY is $4,562 per month.

What is the average rent for a condo in New York?

The average rent for a condo in New York, NY is $3,987 per month.

Are rents going up or down in New York?

Rents in New York, NY are increasing, with prices up 3.1% year-over-year and $131 more per month.

What rent range is most common in New York?

In New York, NY, 85% of apartments fall above $2,000/month, though prices may vary depending on location and other factors.

United States New York New York Rental Trends

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 September 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.

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© 2026 CoStar Group, Inc. Equal Housing Opportunity

Equal Housing Opportunity

© 2026 CoStar Group, Inc.

Equal Housing Opportunity