Manhattan, NY Rental Market Trends
What is the average rent in Manhattan?
The average rent for an apartment in Manhattan is $4,939. The cost of rent varies depending on several factors, including location, size, and quality.
Average rent in Manhattan, NY
| Average Rent | Average Apartment Size |
|---|---|
| $4,939 | 704 sq. ft. |
What is the average apartment size in Manhattan?
The average size for a Manhattan, NY apartment is 704 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 Occupied Housing Units
565,905 or 75% of the households in Manhattan, NY are renter-occupied while 186,231 or 25% are owner-occupied.
Manhattan, NY rent trends
Average Rent in Manhattan, NY By Neighborhood
| City | Average Rent |
|---|---|
| Little Italy | $6,451 |
| TriBeCa | $6,451 |
| NoLIta | $6,106 |
| SoHo | $6,106 |
| Battery Park City | $6,084 |
| Chinatown | $5,912 |
| Hudson Square | $5,881 |
| Lincoln Square | $5,858 |
| Lower East Side | $5,429 |
| West Village | $5,409 |
| Hudson Yards | $5,375 |
| Upper West Side | $5,373 |
| Chelsea | $5,267 |
| Manhattan Valley | $5,253 |
| Two Bridges | $5,207 |
| Meatpacking District | $5,141 |
| Garment District | $5,122 |
| Koreatown | $5,122 |
| Civic Center | $5,120 |
| NoMad | $5,096 |
| Greenwich Village | $5,062 |
| Carnegie Hill | $5,040 |
| Yorkville | $5,040 |
| Flatiron District | $5,008 |
| Peter Cooper Village | $4,995 |
| Gramercy Park | $4,995 |
| Morningside Heights | $4,994 |
| NoHo | $4,977 |
| Kips Bay | $4,975 |
| Lenox Hill | $4,972 |
| East Village | $4,937 |
| Murray Hill | $4,911 |
| Theatre District - Times Square | $4,868 |
| Clinton - Hell's Kitchen | $4,831 |
| Central Midtown | $4,825 |
| Central Park South | $4,803 |
| Sutton Place | $4,774 |
| Financial District | $4,683 |
| Turtle Bay | $4,680 |
| Governors Island | $4,500 |
| Liberty Island | $4,500 |
| Tudor City | $4,417 |
| Stuyvesant Town | $4,392 |
| Roosevelt Island | $3,918 |
| Harlem | $3,444 |
| East Harlem | $3,306 |
| Ellis Island | $3,196 |
| Inwood | $2,723 |
| Randalls and Wards Islands | $2,697 |
| Washington Heights | $2,612 |
| Marble Hill | $1,891 |
What are the most affordable neighborhoods in Manhattan?
The most affordable neighborhoods in Manhattan are Marble Hill, where the average rent goes for $1,891/month, Washington Heights, where renters pay $2,612/mo on average, and Randalls and Wards Islands, where the average rent goes for $2,697/mo. If you’re looking for other great deals, check out the listings from Inwood ($2,723), Ellis Island ($3,196), and East Harlem ($3,306), where the asking prices are below the average Manhattan rent of $4,939/mo.
What are the most expensive neighborhoods in Manhattan?
The most expensive neighborhoods in Manhattan are SoHo ($6,106), Little Italy ($6,451) and TriBeCa ($6,451).
What are the most popular neighborhoods in Manhattan?
The most popular neighborhood in Manhattan is NoHo, where there are 30 listings with an average rent of $4,977. Next up is Yorkville, where apartments go for $5,040/month, followed by Lenox Hill with $4,972 If you’re looking to rent in Manhattan’s most popular neighborhoods, make sure to also check out East Village, where renters pay $4,937 on average, and Harlem, where the average monthly rent is $3,444.
Manhattan | Rent Comparison by Neighborhood
Rent in Battery Park City is 21% higher than in Carnegie Hill
Battery Park City rent is 23% higher than Manhattan average
Carnegie Hill rent is 2% higher than Manhattan average
How Manhattan Compares to Other Cities
| State | Average Rent |
|---|---|
| New York City | $4,566 |
| Manhattan | $4,939 |
| Hudson Valley | $2,215 |
| Jersey City | $3,722 |
| Brooklyn | $3,694 |
| Bronx | $1,891 |
| Queens | $3,051 |
| Ithaca | $2,136 |
| Buffalo | $1,394 |
| Albany | $1,701 |
| Newark | $1,557 |
| Bayonne | $2,428 |
| Poughkeepsie | $1,981 |
| Syracuse | $1,601 |
| Hoboken | $4,413 |
| Englewood | $2,827 |
| Hackensack | $2,277 |
| Mount Vernon | $2,185 |
| Passaic | $1,691 |
| Clifton | $2,056 |
| Garfield | $2,095 |
What is the average price for a storage unit in Manhattan?
The average rent for a non-climate-controlled 10'x10' storage unit in Manhattan is $421.6. Rental costs vary depending on several factors, including unit size and the storage facility's location and amenities.
Most Popular Apartments in Manhattan
516 East 5th Street
516 East 5Th Street, New York, NY 10009| STUDIO | $2,640+ |
| 2 BEDS | Ask for Pricing |
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225 East 96th Street
225 East 96Th Street, New York, NY 10128
110 East 7th Street
110 East 7Th Street, New York, NY 10009| 1 BED | Ask for Pricing |
| 2 BEDS | $3,400 |
518 East 5th Street
518 East 5Th St, New York, NY 10009| STUDIO | $2,550 |
| 1 BED | $2,985 |
| 2+ BEDS | Ask for Pricing |