Data Updated As Of March 2022

Average NYC Rent Prices Have Now Surpassed Pre Pandemic Levels

March 2022 commentary: Average rent throughout all regions of Manhattan for all types of rental apartments has now surpassed pre-pandemic levels as the inventory of the number of available apartments continues to decrease.   However, there are signals of slowing as we are now seeing single-digit increases compared to double-digit percentage increases prior.

Downtown Manhattan Average Rent In NYC

(South of 14th Street)

Downtown Manhattan.jpgAverage Rent In NYC For Downtown Manhattan 2022

 

Studio

   
All Types Elevator Doorman Elevator Walk Up
Feb-20 $3,516 $3,804 $3,227 $2,849
Mar-20 $3,387 $3,624 $2,968 $3,109
Apr-20 $3,510 $3,646 $3,138 $2,961
May-20 $3,228 $3,400 $2,937 $2,487
Jun-20 $3,320 $3,416 $2,986 $2,447
Jul-20 $3,182 $3,296 $2,714 $2,454
Aug-20 $2,930 $3,104 $2,567 $2,358
Sep-20 $2,825 $2,930 $2,459 $2,248
Oct-20 $2,656 $2,804 $2,446 $2,120
Nov-20 $2,590 $2,779 $2,420 $2,096
Dec-20 $2,502 $2,778 $2,383 $2,042
Jan-21 $2,610 $2,837 $2,338 $2,015
Feb-21 $2,651 $2,840 $2,373 $2,000
Mar-21 $2,619 $2,762 $2,389 $1,993
Apr-21 $2,628 $2,827 $2,347 $1,982
May-21 $2,773 $3,008 $2,357 $1,996
Jun-21 $2,897 $3,116 $2,432 $2,306
Jul-21 $3,102 $3,351 $2,698 $2,504
Aug-21 $3,378 $3,525 $2,713 $2,776
Sep-21 $3,308 $3,505 $2,931 $2,587
Dec-21 $3,428 $3,713 $3,014 $2,819
Mar-22 $3,665 $3,822 $2,875 $2,909
QoQ 6.9% 2.9% (4.6%) 3.2%

 

1 Bed

   
All Types Elevator Doorman Elevator Walk Up
Feb-20 $4,456 $4,725 $4,405 $3,217
Mar-20 $4,253 $4,782 $4,381 $3,425
Apr-20 $4,501 $4,748 $4,578 $3,373
May-20 $4,294 $4,661 $4,373 $3,220
Jun-20 $4,342 $4,562 $4,417 $2,944
Jul-20 $4,112 $4,347 $4,074 $2,995
Aug-20 $3,831 $4,165 $3,742 $2,981
Sep-20 $3,765 $4,023 $3,663 $2,925
Oct-20 $3,402 $3,835 $3,344 $2,782
Nov-20 $3,177 $3,791 $3,273 $2,475
Dec-20 $3,023 $3,823 $3,278 $2,320
Jan-21 $3,382 $3,861 $3,292 $2,386
Feb-21 $3,492 $3,857 $3,153 $2,421
Mar-21 $3,454 $3,750 $3,177 $2,339
Apr-21 $3,521 $3,858 $3,274 $2,574
May-21 $3,696 $4,075 $3,355 $2,607
Jun-21 $3,774 $4,240 $3,556 $2,917
Jul-21 $3,899 $4,520 $3,758 $2,966
Aug-21 $4,333 $4,887 $3,983 $3,084
Sep-21 $4,420 $4,904 $3,735 $3,203
Dec-21 $4,508 $4,957 $4,226 $3,446
Mar-22 $4,767 $5,192 $4,032 $3,626
QoQ 5.7% 4.7% (4.6%) 5.2%

 

2 Bed

   
All Types Elevator Doorman Elevator Walk Up
Feb-20 $5,490 $6,746 $4,850 $3,596
Mar-20 $4,985 $6,340 $5,254 $3,812
Apr-20 $5,633 $6,670 $4,606 $3,618
May-20 $5,073 $6,719 $5,436 $3,537
Jun-20 $5,547 $6,602 $5,623 $3,423
Jul-20 $5,091 $6,303 $5,295 $3,420
Aug-20 $4,364 $5,830 $5,080 $3,258
Sep-20 $4,631 $5,744 $4,370 $3,350
Oct-20 $4,174 $5,569 $4,296 $3,177
Nov-20 $3,844 $5,531 $4,012 $2,855
Dec-20 $3,535 $5,491 $4,045 $2,698
Jan-21 $4,148 $5,636 $4,123 $2,722
Feb-21 $4,251 $5,459 $4,671 $2,755
Mar-21 $4,402 $5,557 $4,629 $2,668
Apr-21 $4,325 $6,218 $4,306 $2,681
May-21 $4,442 $6,412 $4,466 $2,798
Jun-21 $4,819 $6,564 $4,909 $3,239
Jul-21 $5,114 $7,104 $4,876 $3,343
Aug-21 $5,693 $7,136 $5,575 $3,544
Sep-21 $5,990 $7,341 $5,578 $3,809
Dec-21 $6,043 $7,169 $5,155 $4,343
Mar-22 $5,921 $7,328 $5,471 $4,357
QoQ (2.0%) 2.2% 6.1% 0.3%

      Midtown Manhattan Average Rent In NYC

      (14th Street to 59th Street)

      Midtown Mahattan.jpgAverage Rent In NYC For Midtown Manhattan 2022

       

      Studio

         
      All Types Elevator Doorman Elevator Walk Up
      Feb-20 $3,278 $3,296 $2,827 $2,839
      Mar-20 $3,243 $3,328 $2,913 $2,791
      Apr-20 $3,343 $3,398 $2,727 $2,887
      May-20 $3,216 $3,290 $2,716 $2,421
      Jun-20 $3,113 $3,180 $2,723 $2,341
      Jul-20 $3,048 $3,126 $2,685 $2,275
      Aug-20 $2,883 $2,986 $2,588 $2,213
      Sep-20 $2,819 $2,880 $2,594 $2,159
      Oct-20 $2,723 $2,795 $2,420 $2,117
      Nov-20 $2,631 $2,721 $2,326 $2,058
      Dec-20 $2,583 $2,687 $2,275 $1,944
      Jan-21 $2,598 $2,693 $2,225 $1,954
      Feb-21 $2,617 $2,708 $2,204 $1,933
      Mar-21 $2,592 $2,683 $2,148 $1,848
      Apr-21 $2,659 $2,783 $2,118 $1,875
      May-21 $2,803 $2,951 $2,138 $1,930
      Jun-21 $2,905 $3,088 $2,165 $2,055
      Jul-21 $3,180 $3,319 $2,566 $2,399
      Aug-21 $3,432 $3,555 $2,757 $2,550
      Sep-21 $3,457 $3,653 $2,518 $2,447
      Dec-21 $3,724 $3,774 $2,610 $3,038
      Mar-22 $3,850 $3,944 $3,035 $2,655
      QoQ 3.4% 4.5% 16.3% (12.6%)

       

      1 Bed

         
      All Types Elevator Doorman Elevator Walk Up
      Feb-20 $4,307 $4,352 $3,673 $3,019
      Mar-20 $4,291 $4,439 $3,656 $3,146
      Apr-20 $4,320 $4,370 $3,706 $3,082
      May-20 $4,137 $4,242 $3,614 $2,750
      Jun-20 $4,087 $4,171 $3,553 $2,762
      Jul-20 $3,921 $4,012 $3,514 $2,683
      Aug-20 $3,675 $3,800 $3,249 $2,674
      Sep-20 $3,615 $3,700 $3,197 $2,499
      Oct-20 $3,488 $3,643 $2,963 $2,535
      Nov-20 $3,355 $3,599 $2,774 $2,306
      Dec-20 $3,230 $3,537 $2,684 $2,219
      Jan-21 $3,285 $3,520 $2,641 $2,137
      Feb-21 $3,385 $3,567 $2,655 $2,135
      Mar-21 $3,397 $3,538 $2,786 $2,178
      Apr-21 $3,506 $3,667 $2,872 $2,247
      May-21 $3,600 $3,807 $2,792 $2,367
      Jun-21 $3,746 $3,989 $2,949 $2,495
      Jul-21 $4,181 $4,436 $3,267 $2,470
      Aug-21 $4,382 $4,563 $3,565 $2,522
      Sep-21 $4,591 $4,785 $3,364 $2,683
      Dec-21 $4,627 $4,743 $3,756 $3,455
      Mar-22 $4,790 $4,941 $3,629 $3,370
      QoQ 3.5% 4.2% (3.4%) (2.5%)

       

      2 Bed

         
      All Types Elevator Doorman Elevator Walk Up
      Feb-20 $5,982 $6,306 $4,768 $3,554
      Mar-20 $5,760 $6,242 $4,185 $4,038
      Apr-20 $6,073 $6,289 $3,857 $4,166
      May-20 $5,907 $6,243 $4,308 $4,168
      Jun-20 $5,958 $6,184 $4,320 $4,036
      Jul-20 $5,712 $5,955 $4,192 $3,803
      Aug-20 $5,381 $5,728 $3,994 $3,778
      Sep-20 $5,278 $5,592 $3,986 $3,443
      Oct-20 $5,011 $5,626 $3,744 $3,246
      Nov-20 $4,780 $5,631 $3,632 $2,843
      Dec-20 $4,448 $5,501 $3,291 $2,670
      Jan-21 $4,713 $5,465 $3,187 $2,700
      Feb-21 $4,958 $5,648 $3,274 $2,716
      Mar-21 $4,848 $5,509 $3,465 $2,644
      Apr-21 $5,149 $5,925 $3,315 $2,688
      May-21 $5,432 $6,216 $3,653 $2,802
      Jun-21 $5,641 $6,383 $4,007 $3,218
      Jul-21 $6,303 $6,824 $4,334 $3,429
      Aug-21 $6,502 $6,777 $4,311 $4,192
      Sep-21 $6,396 $6,636 $4,028 $3,884
      Dec-21 $6,229 $6,535 $5,281 $4,382
      Mar-22 $6,309 $6,785 $4,646 $4,204
      QoQ 1.3% 3.8% (12.0%) (4.1%)

      Upper East Side Average Rent In NYC

      (East 60th Street to East 96th Street)

      Upper East Side.jpgAverage Rent In NYC For Upper East Side 2022

       

      Studio

         
      All Types Elevator Doorman Elevator Walk Up
      Feb-20 $2,678 $2,932 $2,372 $2,284
      Mar-20 $2,597 $3,240 $2,360 $2,382
      Apr-20 $2,675 $3,159 $2,338 $2,378
      May-20 $2,537 $3,115 $2,400 $2,350
      Jun-20 $2,551 $3,034 $2,431 $2,283
      Jul-20 $2,421 $2,947 $2,316 $2,242
      Aug-20 $2,309 $2,883 $2,211 $2,172
      Sep-20 $2,228 $2,785 $2,072 $2,008
      Oct-20 $2,169 $2,656 $2,030 $2,014
      Nov-20 $2,072 $2,644 $2,064 $1,891
      Dec-20 $2,057 $2,678 $2,060 $1,878
      Jan-21 $2,074 $2,575 $2,099 $1,865
      Feb-21 $2,083 $2,685 $2,038 $1,825
      Mar-21 $2,069 $2,633 $1,958 $1,804
      Apr-21 $2,106 $2,666 $2,004 $1,843
      May-21 $2,141 $2,800 $2,013 $1,872
      Jun-21 $2,175 $2,911 $1,952 $1,868
      Jul-21 $2,403 $3,247 $2,048 $2,029
      Aug-21 $2,554 $3,272 $2,180 $2,173
      Sep-21 $2,597 $3,347 $2,313 $2,192
      Dec-21 $2,593 $3,475 $2,324 $2,287
      Mar-22 $2,890 $3,388 $2,500 $2,632
      QoQ 11.5% (2.5%) 7.6% 15.1%

       

      1 Bed

         
      All Types Elevator Doorman Elevator Walk Up
      Feb-20 $3,442 $3,833 $3,110 $2,684
      Mar-20 $3,342 $4,112 $3,206 $2,678
      Apr-20 $3,559 $4,110 $3,223 $2,632
      May-20 $3,395 $4,063 $3,252 $2,587
      Jun-20 $3,319 $3,922 $3,207 $2,547
      Jul-20 $3,188 $3,818 $3,034 $2,526
      Aug-20 $3,055 $3,819 $2,932 $2,494
      Sep-20 $3,189 $3,810 $2,804 $2,370
      Oct-20 $3,060 $3,941 $2,704 $2,325
      Nov-20 $2,834 $3,839 $2,718 $2,163
      Dec-20 $2,658 $3,827 $2,600 $2,122
      Jan-21 $2,748 $3,698 $2,661 $2,049
      Feb-21 $2,790 $3,767 $2,587 $2,048
      Mar-21 $2,751 $3,507 $2,569 $2,051
      Apr-21 $2,742 $3,678 $2,599 $2,077
      May-21 $2,818 $3,846 $2,617 $2,100
      Jun-21 $2,958 $3,992 $2,573 $2,240
      Jul-21 $3,173 $3,983 $2,739 $2,433
      Aug-21 $3,405 $4,101 $2,950 $2,541
      Sep-21 $3,352 $4,315 $2,878 $2,585
      Dec-21 $4,046 $4,617 $3,014 $2,780
      Mar-22 $4,168 $4,811 $3,513 $3,079
      QoQ 3.0% 4.2% 16.6% 10.8%

       

      2 Bed

         
      All Types Elevator Doorman Elevator Walk Up
      Feb-20 $5,878 $7,138 $4,165 $3,242
      Mar-20 $5,832 $7,236 $5,031 $3,600
      Apr-20 $6,118 $7,294 $4,882 $3,631
      May-20 $4,964 $6,653 $5,309 $3,397
      Jun-20 $4,876 $6,429 $4,551 $3,106
      Jul-20 $4,793 $6,223 $4,731 $3,001
      Aug-20 $4,184 $5,793 $4,076 $2,864
      Sep-20 $4,234 $5,482 $4,306 $2,740
      Oct-20 $4,301 $5,535 $3,754 $2,833
      Nov-20 $3,838 $5,603 $3,836 $2,583
      Dec-20 $3,777 $5,677 $3,578 $2,570
      Jan-21 $4,078 $5,688 $3,590 $2,475
      Feb-21 $4,100 $5,704 $3,421 $2,503
      Mar-21 $4,277 $5,620 $3,856 $2,503
      Apr-21 $4,251 $5,879 $3,871 $2,481
      May-21 $4,339 $6,210 $3,821 $2,654
      Jun-21 $4,512 $6,321 $3,951 $2,698
      Jul-21 $5,130 $6,537 $3,717 $2,873
      Aug-21 $5,628 $6,771 $3,965 $2,963
      Sep-21 $5,698 $6,766 $4,995 $2,860
      Dec-21 $6,297 $6,544 $5,895 $2,898
      Mar-22 $6,614 $6,896 $5,500 $3,152
      QoQ 5.0% 5.4% (6.7%) 8.8%

        Upper West Side Average Rent In NYC

        (West 60th Street to West 110th Street)

        Upper West Side.jpgAverage Rent In NYC For Upper West Side 2022

         

        Studio

           
        All Types Elevator Doorman Elevator Walk Up
        Feb-20 $3,032 $3,032 $2,426
        Mar-20 $2,953 $3,010 $2,480
        Apr-20 $2,992 $3,024 $2,459 $2,095
        May-20 $2,941 $2,967 $2,351
        Jun-20 $2,896 $2,902 $2,508
        Jul-20 $2,786 $2,794 $2,636 $2,500
        Aug-20 $2,684 $2,698 $2,448 $2,500
        Sep-20 $2,573 $2,586 $2,393 $2,450
        Oct-20 $2,531 $2,534 $2,555 $2,225
        Nov-20 $2,540 $2,560 $2,631 $1,893
        Dec-20 $2,567 $2,590 $2,600 $2,171
        Jan-21 $2,471 $2,493 $2,332 $1,800
        Feb-21 $2,524 $2,549 $2,168 $1,800
        Mar-21 $2,621 $2,660 $1,990 $1,800
        Apr-21 $2,725 $2,774 $2,014 $1,850
        May-21 $2,796 $2,848 $2,040 $1,875
        Jun-21 $2,804 $2,846 $2,204 $2,015
        Jul-21 $3,042 $3,114 $2,309 $2,100
        Aug-21 $3,313 $3,421 $2,300 $2,300
        Sep-21 $3,502 $3,520 $2,698 $2,250
        Dec-21 $3,448 $3,472 $2,400 $2,450
        Mar-22 $3,715 $3,715 $2,555 $2,476
        QoQ 7.7% 7.0% 6.5% 1.1%

         

        1 Bed

           
        All Types Elevator Doorman Elevator Walk Up
        Feb-20 $4,095 $4,132 $3,182 $2,971
        Mar-20 $4,068 $4,153 $3,032 $2,869
        Apr-20 $3,970 $4,002 $3,061 $2,899
        May-20 $3,829 $3,879 $3,117 $2,943
        Jun-20 $3,761 $3,814 $2,995 $2,829
        Jul-20 $3,654 $3,707 $3,074 $2,981
        Aug-20 $3,563 $3,638 $3,005 $3,016
        Sep-20 $3,515 $3,563 $2,928 $2,918
        Oct-20 $3,555 $3,608 $2,937 $2,866
        Nov-20 $3,459 $3,526 $2,859 $2,539
        Dec-20 $3,438 $3,536 $3,014 $2,598
        Jan-21 $3,459 $3,545 $2,728 $2,401
        Feb-21 $3,503 $3,591 $2,671 $2,349
        Mar-21 $3,582 $3,680 $2,550 $2,358
        Apr-21 $3,723 $3,854 $2,728 $2,281
        May-21 $3,806 $3,896 $2,911 $2,596
        Jun-21 $3,950 $4,111 $2,918 $2,729
        Jul-21 $4,237 $4,416 $2,730 $2,861
        Aug-21 $4,618 $4,720 $2,943 $2,923
        Sep-21 $4,709 $4,765 $3,450 $3,000
        Dec-21 $4,688 $4,708 $3,500 $3,183
        Mar-22 $4,430 $4,461 $3,658 $2,995
        QoQ (5.5%) (5.2%) 4.5% (5.9%)

         

        2 Bed

           
        All Types Elevator Doorman Elevator Walk Up
        Feb-20 $5,945 $6,156 $4,222 $3,742
        Mar-20 $5,616 $6,272 $3,852 $3,645
        Apr-20 $5,717 $6,197 $3,616 $3,519
        May-20 $6,340 $6,585 $3,832 $3,644
        Jun-20 $6,256 $6,379 $4,517 $3,775
        Jul-20 $5,775 $6,063 $3,717 $2,944
        Aug-20 $5,610 $6,016 $3,400 $3,007
        Sep-20 $5,367 $5,578 $3,838 $3,292
        Oct-20 $5,316 $5,598 $3,883 $2,971
        Nov-20 $5,323 $5,734 $3,555 $2,588
        Dec-20 $5,196 $5,878 $4,017 $2,298
        Jan-21 $5,542 $5,940 $3,937 $2,460
        Feb-21 $5,520 $5,919 $3,860 $2,568
        Mar-21 $5,403 $5,835 $3,258 $2,501
        Apr-21 $5,785 $6,374 $3,340 $2,389
        May-21 $6,058 $6,706 $3,290 $2,606
        Jun-21 $6,511 $7,081 $3,839 $3,061
        Jul-21 $6,721 $7,109 $3,887 $3,546
        Aug-21 $7,377 $7,454 $4,987 $3,495
        Sep-21 $6,879 $7,045 $4,578 $3,400
        Dec-21 $6,821 $6,961 $5,563 $3,250
        Mar-22 $6,941 $7,172 $6,100 $3,455
        QoQ 1.8% 3.0% 9.7% 6.3%

          Upper Manhattan Average Rent In NYC

          (North of East 96th and North of West 110th Street)

          Upper Manhattan.jpgAverage Rent In NYC For Upper Manhattan 2022

           

          Studio

             
          All Types Elevator Doorman Elevator Walk Up
          Feb-20 $2,493 $2,493 $2,609 $1,950
          Mar-20 $2,394 $2,459 $2,437 $1,877
          Apr-20 $2,340 $2,763 $1,983 $1,878
          May-20 $2,475 $2,733 $1,817 $1,828
          Jun-20 $2,965 $3,194 $1,821 $2,025
          Jul-20 $2,447 $2,856 $1,796 $1,915
          Aug-20 $2,212 $2,704 $1,843 $1,747
          Sep-20 $2,399 $2,534 $2,170 $1,818
          Oct-20 $2,266 $2,393 $2,111 $1,892
          Nov-20 $2,026 $2,124 $1,840 $1,802
          Dec-20 $2,071 $2,203 $1,833 $1,709
          Jan-21 $1,915 $1,987 $1,802 $1,842
          Feb-21 $1,998 $2,128 $1,795 $1,724
          Mar-21 $2,163 $2,384 $1,812 $1,610
          Apr-21 $2,192 $2,449 $1,742 $1,708
          May-21 $2,078 $2,431 $1,667 $1,690
          Jun-21 $2,441 $2,707 $2,114 $1,735
          Jul-21 $2,234 $2,450 $2,153 $1,848
          Aug-21 $2,160 $2,334 $2,079 $1,690
          Sep-21 $2,291 $2,454 $2,186 $1,595
          Dec-21 $2,420 $2,600 $1,852 $1,823
          Mar-22 $2,612 $2,803 $1,823 $1,900
          QoQ 7.9% 7.8% (3.7%) 4.2%

           

          1 Bed

             
          All Types Elevator Doorman Elevator Walk Up
          Feb-20 $3,123 $3,348 $2,181 $2,079
          Mar-20 $3,027 $3,711 $2,140 $2,174
          Apr-20 $3,070 $3,697 $2,177 $2,048
          May-20 $3,087 $3,664 $2,240 $2,206
          Jun-20 $2,925 $3,674 $2,198 $2,087
          Jul-20 $3,056 $3,683 $2,250 $2,078
          Aug-20 $2,868 $3,540 $2,363 $1,939
          Sep-20 $2,835 $3,188 $2,225 $2,023
          Oct-20 $2,696 $2,968 $2,308 $1,938
          Nov-20 $2,534 $2,935 $2,290 $1,899
          Dec-20 $2,569 $3,005 $2,232 $1,848
          Jan-21 $2,609 $3,003 $2,171 $1,878
          Feb-21 $2,567 $3,079 $2,142 $1,889
          Mar-21 $2,640 $3,179 $2,159 $1,903
          Apr-21 $2,607 $3,226 $2,158 $1,879
          May-21 $2,560 $3,215 $2,097 $2,042
          Jun-21 $2,507 $3,414 $2,075 $2,051
          Jul-21 $2,418 $3,294 $2,088 $2,104
          Aug-21 $2,763 $4,151 $2,153 $2,111
          Sep-21 $3,010 $4,418 $2,224 $2,323
          Dec-21 $3,193 $3,673 $2,233 $2,168
          Mar-22 $3,218 $3,409 $2,290 $2,398
          QoQ 0.8% (7.2%) 2.6% 10.6%

           

          2 Bed

             
          All Types Elevator Doorman Elevator Walk Up
          Feb-20 $4,377 $4,906 $3,843 $2,594
          Mar-20 $3,876 $5,006 $3,060 $2,835
          Apr-20 $4,219 $5,222 $2,871 $2,384
          May-20 $3,910 $4,659 $3,163 $2,548
          Jun-20 $3,792 $4,530 $2,796 $2,467
          Jul-20 $3,569 $5,040 $2,872 $2,641
          Aug-20 $3,516 $4,949 $2,968 $2,561
          Sep-20 $3,447 $4,251 $2,992 $2,614
          Oct-20 $3,169 $4,241 $2,838 $2,444
          Nov-20 $3,057 $4,056 $2,815 $2,393
          Dec-20 $3,040 $4,315 $2,668 $2,213
          Jan-21 $3,185 $4,439 $2,800 $2,300
          Feb-21 $3,141 $4,558 $2,758 $2,250
          Mar-21 $2,923 $4,755 $2,655 $2,193
          Apr-21 $2,864 $4,383 $2,555 $2,217
          May-21 $2,915 $4,682 $2,598 $2,323
          Jun-21 $2,938 $4,261 $2,704 $2,424
          Jul-21 $2,826 $4,824 $2,606 $2,404
          Aug-21 $3,042 $6,021 $2,602 $2,426
          Sep-21 $3,431 $5,904 $2,575 $2,564
          Dec-21 $3,341 $5,087 $2,540 $2,575
          Mar-22 $3,500 $5,097 $2,641 $2,482
          QoQ 4.8% 0.2% 4.0% (3.6%)

          • The average rent in NYC for a Studio apartment in Upper Manhattan is $2,612
          • The average rent in NYC for a 1 Bedroom apartment in Upper Manhattan is $3,218
          • The average rent in NYC for a 2 Bedroom apartment in Upper Manhattan is $3,500
          • The average rent in NYC for a 1 Bedroom apartment in a Luxury Elevator Elevator building in Upper Manhattan is $3,409
          • The average rent in NYC for a 1 Bedroom apartment in an Elevator building in Upper Manhattan is $2,290
          • The average rent in NYC for a 1 Bedroom apartment in a Walk Up building in Upper Manhattan is $2,398

                  How Transparentcity Collects Average Rent in NYC Data

                  A frequently asked question is how much does an apartment cost in NYC? The apartment cost in NYC is highly dependent on the neighborhood and size.  Our figures are calculated based on aggregated listings data acquired directly from NYC management company websites.  Listings data only includes management company market-rate apartment availabilities and does not include broker listings.  If you are in the market to rent an apartment in NYC and want to rent directly from management companies to save on fees, go to Transparentcity for a full list of no-fee apartment buildings.  

                  Average Rent In NYC Grouped By Neighborhood

                  1. Downtown Manhattan (South of 14th Street)
                  2. Midtown Manhattan (14th Street to 59th Street)
                  3. Upper East Side (East 60th Street to East 96th Street)
                  4. Upper West Side (West 60th Street to West 110th Street)
                  5. Upper Manhattan (North of East 96th Street and North of West 110th Street) 

                  Average Rent In NYC Grouped By Bedroom Size And Building Type

                  Within each Neighborhood, the Average Rent in NYC is further divided by Building Types, which fit into 3 categories:

                  1. 'Luxury' Elevator Doorman
                  2. Elevator
                  3. Walk Up

                  Notable Average Rent In NYC Statistics

                  Common questions related to NYC rent include: how much is an apartment in New York City? How much does an apartment cost in NYC? The average rent price in NYC for a market-rate walk-up apartment is well below the overall city average, which effectively paints a different picture of NYC rent affordability.  However, the supply of walk-up apartments is very low relative to luxury apartments.  There is roughly a 7:1 listings ratio of Elevator Doorman apartments to Walk Up apartments at any given time.  Days on market for walk-up apartments move quicker which shows how high in demand they are and how quickly apartments move at lower price points even in times of Covid.  Looking for one of these hidden gems?  Here is an active list of Walk-Up Apartments for rent.  

                  The vast majority of apartment availabilities in NYC are in Luxury Elevator Doorman buildings which is why overall average rent prices in NYC are skewed much higher.  Do you have the budget and want to live in one of these luxury apartment buildings?  Here is an active list of Luxury Doorman Elevator buildings for rent.  There are plenty of options to choose from.

                  Past Commentary

                  July 2021 commentary: Average rent in Manhattan showed the highest acceleration in price increases during the early summer months since the December bottom.  Rent prices showed quarter-over-quarter percentage increases across all regions.  

                  May 2021 commentary: Average rent in Manhattan continues to increase gradually even though the last couple of months have shown signs of the increase slightly leveling out.  Summer months when the rental market is generally hot may continue to push rent prices upwards.  There are no signs of the rental market falling back to December lows.   

                  March 2021 commentary:  Based on the data, the Manhattan rental market seems to have bottomed out.  There are signs of price increases for both walk-ups and luxury apartments across all neighborhoods.  Even Midtown Manhattan, which was the hardest hit, showed an increase in prices.  For anyone who has been thinking about moving into a new apartment and wanted to wait until signs of a bottom before making the decision, these next few months would be the time to take advantage of any concessions that are still being offered as the market may not move much lower. 

                  January 2021 commentary:  Based on the data, the Upper West Side is showing the most strength where prices are starting to edge higher.  Rent prices in Downtown Manhattan, Upper Manhattan, and the Upper East Side are showing signs of bottoming out.  Rent prices in Midtown Manhattan however continue to fall.  

                  November 2020 commentary:  The fall months have picked up right where the summer left off with Property Managers continuing to drop listing prices while also offering renter incentives.  While the month's free rent continues to stay relatively flat, offers continue to be in the 2-4 months range, and listing prices throughout the fall season are lower than they were in the summer months.  

                  Based on the data, out of the different Manhattan neighborhoods, average rent prices for Lower Manhattan look as if it is still on a downward trajectory with more room to move lower.  Meanwhile, the Upper West Side looks like it could potentially be the first one to bottom out as the month-over-month percentages are showing signs of stabilization relative to the other areas.  

                  August 2020 commentary: Summer months traditionally are considered the busy season for NYC rental apartments where both prices and turnover are normally at their highest.  However, the data is showing that the 2020 summer brought the steepest drop in rent prices since the pandemic started showing another 10% drop in June.  Property managers have either slashed listing prices, increased renter incentives such as months free or done both in order to adjust to the weaker demand. 

                  There is one sign of the rental market leveling out and that is based on the number of property manager rental listings that are available.  The number of available listings for the months of July and August seems to have leveled out at 8,000 a month which potentially is a sign of the supply bottoming out based on current prices.  This compared to previous months when there was a drastic spike in the number of listings available month over month since the pandemic began.  Should the number of available listings continue to cycle through over the next couple of months at the current prices without another influx of rental inventory, we may be seeing a bottom in prices as well.     

                  June 2020 commentary: Based on May and June's rental listings data, the data is definitively showing that rental prices have gone down due to Covid-19 by a range of 5% - 15% depending on the neighborhood.  In our previous analysis of March and April data where data showed relatively flat price fluctuations but increased inventory levels, that increase in rental inventory is starting to see price drops where property managers have started lowering listing prices each week a rental unit stays on the market.  Those price drops are also coinciding with new inventory coming in making it a renters market for those who can afford it and are in the market.  It is especially a renters market for those fortunate to be looking at the higher-end luxury doorman elevator buildings where both inventory levels and price drops continue to increase.                        

                  April 2020 commentary: The number one question on every NYC renter's mind during this time is 'will rental prices go down in NYC due to the Coronavirus'?  Renters who are looking to move to a new place or negotiating their lease renewals are scouring the web for any signs of a 'good deal' for their next apartment.  We hate to be the bearer of bad news for those renters waiting for the signs but unfortunately, based on rental data for March 2020 and April 2020, rental prices have not meaningfully gone down as hoped due to Covid-19.  There was a dip in rental prices in March but then a slight uptick in April bringing prices back to pre Coronavirus levels.  Prices have stayed relatively flat.  However, the data is showing an increased inventory level in the luxury rental market which means there is a higher possibility of price drops or rental concessions in the coming months if those inventory levels continue to increase over the next few months.