Manhattan, NY Rental Market Trends
What is the average rent in Manhattan?
The average rent for an apartment in Manhattan is $4,265. The cost of rent varies depending on several factors, including location, size, and quality.
Average Rent in Manhattan, NY
| Average Rent | Average Apartment Size |
|---|---|
| $4,265 | 702 sq. ft. |
What is the average apartment size in Manhattan?
The average size for a Manhattan, NY apartment is 702 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
Manhattan, NY Occupied Housing Units
563,972 or 76% of the households in Manhattan, NY are renter-occupied while 179,726 or 24% are owner-occupied.
Manhattan, NY Rent Trends
| Average Rent | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Mar / 2021 | Nov / 2021 | Mar / 2022 |
|---|---|---|---|---|---|---|---|---|
| Manhattan, NY | $4,222 | $4,228 | $4,230 | $4,052 | $3,761 | $3,628 | $4,140 | $4,265 |
| National | $1,407 | $1,415 | $1,416 | $1,406 | $1,410 | $1,418 | $1,596 | $1,634 |
Average Rent in Manhattan, NY By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Battery Park City | $5,941 |
| Little Italy | $5,800 |
| TriBeCa | $5,800 |
| NoLIta | $5,447 |
| SoHo | $5,447 |
| Lincoln Square | $5,431 |
| Chinatown | $5,399 |
| Civic Center | $5,279 |
| Hudson Square | $5,210 |
| Two Bridges | $5,209 |
| Lower East Side | $5,041 |
| Upper West Side | $4,885 |
| West Village | $4,722 |
| Hudson Yards | $4,696 |
| Manhattan Valley | $4,679 |
| Chelsea | $4,577 |
| NoMad | $4,568 |
| Financial District | $4,552 |
| Kips Bay | $4,515 |
| Murray Hill | $4,509 |
| Governors Island | $4,467 |
| Liberty Island | $4,467 |
| Carnegie Hill | $4,466 |
| Yorkville | $4,466 |
| Garment District | $4,465 |
| Koreatown | $4,465 |
| Meatpacking District | $4,438 |
| Sutton Place | $4,427 |
| Greenwich Village | $4,402 |
| Morningside Heights | $4,372 |
| Gramercy Park | $4,370 |
| Theatre District - Times Square | $4,369 |
| NoHo | $4,366 |
| Flatiron District | $4,361 |
| Peter Cooper Village | $4,356 |
| Central Midtown | $4,348 |
| Central Park South | $4,327 |
| Clinton - Hell's Kitchen | $4,308 |
| East Village | $4,299 |
| Turtle Bay | $4,278 |
| Lenox Hill | $4,206 |
| Tudor City | $3,859 |
| Stuyvesant Town | $3,639 |
| Roosevelt Island | $3,339 |
| Harlem | $3,291 |
| Ellis Island | $3,220 |
| East Harlem | $2,982 |
| Randalls and Wards Islands | $2,324 |
| Inwood | $2,318 |
| Washington Heights | $2,243 |
| Marble Hill | $1,682 |
What are the most affordable neighborhoods in Manhattan?
The most affordable neighborhoods in Manhattan are Marble Hill, where the average rent goes for $1,682/month, Washington Heights, where renters pay $2,243/mo on average, and Inwood, where the average rent goes for $2,318/mo. If you’re looking for other great deals, check out the listings from Randalls and Wards Islands ($2,324), East Harlem ($2,982), and Ellis Island ($3,220), where the asking prices are below the average Manhattan rent of $4,265/mo.
What are the most expensive neighborhoods in Manhattan?
The most expensive neighborhoods in Manhattan are Little Italy ($5,800), TriBeCa ($5,800) and Battery Park City ($5,941).
What are the most popular neighborhoods in Manhattan?
The most popular neighborhood in Manhattan is East Village, where there are 27 verified RentCafe listings with an average rent of $4,299. Next up is Yorkville, where apartments go for $4,466/month, followed by Greenwich Village with $4,402 If you’re looking to rent in Manhattan’s most popular neighborhoods, make sure to also check out Harlem, where renters pay $3,291 on average, and Lenox Hill, where the average monthly rent is $4,206.
Manhattan | Rent Comparison by Neighborhood
Rent in Battery Park City is 33% higher than in Carnegie Hill
Battery Park City rent is 39% higher than Manhattan average
| Average Rent | $5,941 |
|---|
Carnegie Hill rent is 5% higher than Manhattan average
| Average Rent | $4,466 |
|---|
How Manhattan Compares to Other Cities
| City | Average Rent |
|---|---|
| New York City | $4,454 |
| Manhattan | $4,265 |
| Hudson Valley | $2,215 |
| Bronx | $1,682 |
| Jersey City | $3,318 |
| Brooklyn | $3,194 |
| Albany | $1,509 |
| Queens | $2,780 |
| Stamford | $2,744 |
| Newark | $1,394 |
| Buffalo | $1,211 |
| Troy | $1,334 |
| Hoboken | $3,905 |
| Amityville | $2,290 |
| Bloomfield | $2,061 |
| Syracuse | $1,356 |
| White Plains | $3,093 |
| Yonkers | $2,253 |
| New Rochelle | $2,499 |
| Harrison | $2,347 |
| Bayonne | $2,257 |
Most Popular Apartments in Manhattan
102 Saint Mark's Place
102 Saint Marks Place, New York, NY 10009- Studio
- 1 BED
- 2 BEDS