Manhattan, NY Rental Market Trends
Highlights
The average rent for an apartment in Manhattan is $4,208, a 2% increase compared to the previous year.
Average Rent in Manhattan, NY
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $4,208 | 2% | 703 sq. ft. |
The average size for a Manhattan, NY apartment is 703 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Manhattan, NY Apartment Rent Ranges
- $1,501-$2,0002%
- > $2,00098%
Manhattan, NY Occupied Housing Units
- Renter-occupied Households57%
- Owner-occupied Households42%
427,744 or 57% of the households in Manhattan, NY are renter-occupied while 315,487 or 42% are owner-occupied.
Manhattan, NY Rent Trends
| Average Rent | Jul / 2019 | Nov / 2019 | Feb / 2020 |
|---|---|---|---|
| Manhattan, NY | $4,222 | $4,228 | $4,208 |
| National | $1,458 | $1,466 | $1,468 |
Average Rent in Manhattan, NY By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Marble Hill | $1,708 |
| Washington Heights | $2,284 |
| Inwood | $2,375 |
| Randalls and Wards Islands | $2,394 |
| Harlem | $2,948 |
| East Harlem | $2,965 |
| Roosevelt Island | $3,416 |
| Stuyvesant Town | $3,611 |
| Liberty Island | $3,648 |
| Governors Island | $3,648 |
| Ellis Island | $3,648 |
| Tudor City | $3,808 |
| Turtle Bay | $3,906 |
| Sutton Place | $3,941 |
| Central Midtown | $4,022 |
| Central Park South | $4,038 |
| Clinton - Hell's Kitchen | $4,053 |
| Theatre District - Times Square | $4,059 |
| Financial District | $4,142 |
| Murray Hill | $4,143 |
| Peter Cooper Village | $4,154 |
| Kips Bay | $4,172 |
| Lenox Hill | $4,231 |
| NoMad | $4,243 |
| Gramercy Park | $4,275 |
| Koreatown | $4,276 |
| Garment District | $4,276 |
| Flatiron District | $4,276 |
| East Village | $4,320 |
| Meatpacking District | $4,363 |
| Chelsea | $4,370 |
| Greenwich Village | $4,378 |
| Morningside Heights | $4,388 |
| NoHo | $4,394 |
| Hudson Yards | $4,416 |
| Yorkville | $4,458 |
| Carnegie Hill | $4,458 |
| Civic Center | $4,489 |
| Two Bridges | $4,544 |
| West Village | $4,598 |
| Upper West Side | $4,668 |
| Lower East Side | $4,676 |
| Manhattan Valley | $4,711 |
| Lincoln Square | $4,795 |
| Hudson Square | $5,055 |
| Chinatown | $5,116 |
| SoHo | $5,301 |
| NoLIta | $5,301 |
| Battery Park City | $5,605 |
| TriBeCa | $5,607 |
| Little Italy | $5,607 |
The most affordable neighborhoods in Manhattan are Marble Hill, where the average rent goes for $1,708/month, Washington Heights, where renters pay $2,284/mo on average, and Inwood, where the average rent goes for $2,375/mo. If you’re looking for other great deals, check out the listings from Randalls and Wards Islands ($2,394), Harlem ($2,948), and East Harlem ($2,965), where the asking prices are below the average Manhattan rent of $4,208/mo.
The most expensive neighborhoods in Manhattan are Battery Park City ($5,605), Little Italy ($5,607) and TriBeCa ($5,607).
The most popular neighborhood in Manhattan is East Village, where there are 32 verified RENTCafé listings with an average rent of $4,320. Next up is Greenwich Village, where apartments go for $4,378/month, followed by Clinton - Hell's Kitchen with $4,053 If you’re looking to rent in Manhattan’s most popular neighborhoods, make sure to also check out Yorkville, where renters pay $4,458 on average, and Kips Bay, where the average monthly rent is $4,172.
Manhattan | Rent Comparison by Neighborhood
Rent in Battery Park City is 26% higher than in Carnegie Hill
Battery Park City rent is 33% higher than Manhattan average
| Average Rent | $5,605 |
|---|
Carnegie Hill rent is 6% higher than Manhattan average
| Average Rent | $4,458 |
|---|
How Manhattan Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| New York City | $3,902 | 3% |
| Manhattan | $4,208 | 2% |
| Jersey City | $2,986 | 2% |
| Hudson Valley | $1,924 | 3% |
| Brooklyn | $2,951 | 5% |
| Rochester | $1,059 | 3% |
| Newark | $1,218 | 3% |
| Stamford | $2,387 | 1% |
| Queens | $2,568 | 6% |
| Yonkers | $2,072 | 3% |
| Elizabeth | $1,306 | 6% |
For more information about the Manhattan rental trends, check out our monthly rent report
Check out New York Cities, New York Neighborhoods and New York Zip Codes for more details on verified listings, including the New York Average Rent.
Curious about listings in your area? Check out our apartments near you for more details!