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Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market.

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

Last updated February 2022
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

425,907 or 57% of the households in Manhattan, NY are renter-occupied while 317,790 or 42% are owner-occupied.

Manhattan, NY Rent Trends

Average Rent Jul / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Nov / 2020 Mar / 2021 Nov / 2021 Feb / 2022
Manhattan, NY $4,222 $4,228 $4,230 $4,052 $3,761 $3,628 $4,140 $4,265
National $1,399 $1,407 $1,409 $1,399 $1,403 $1,412 $1,591 $1,628
Access comprehensive real estate data and information on Yardi Matrix

Average Rent in Manhattan, NY By Neighborhood

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What are the most affordable neighborhoods in Manhattan?

The most affordable neighborhoods in Manhattan are Marble Hill, where the average rent goes for $1,650/month, Washington Heights, where renters pay $2,197/mo on average, and Randalls and Wards Islands, where the average rent goes for $2,257/mo. If you’re looking for other great deals, check out the listings from Inwood ($2,272), East Harlem ($2,815), and Ellis Island ($2,990), 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 ($5,497), TriBeCa ($5,497) and Battery Park City ($5,731).

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 $4,162. Next up is Yorkville, where apartments go for $4,270/month, followed by Greenwich Village with $4,226 If you’re looking to rent in Manhattan’s most popular neighborhoods, make sure to also check out Harlem, where renters pay $3,051 on average, and East Harlem, where the average monthly rent is $2,815.

Manhattan | Rent Comparison by Neighborhood

Neighborhood
vs.

Rent in Battery Park City is 34% higher than in Carnegie Hill

$5,731

Battery Park City rent is 34% higher than Manhattan average

Average Rent $5,731
$4,270

Carnegie Hill rent is 1% higher than Manhattan average

Average Rent $4,270

How Manhattan Compares to Other Cities

City Average Rent
New York City $3,977
Manhattan $4,265
Hudson Valley $2,126
Bronx $1,650
Brooklyn $3,124
Jersey City $3,153
Albany $1,441
Hoboken $3,739
Newark $1,357
Stamford $2,621
Rochester $1,187
Queens $2,769
Buffalo $1,182
Troy $1,320
Amityville $2,285
Bloomfield $1,929
Kingston $1,352
White Plains $2,987
Yonkers $2,216
Harrison $2,269
Bayonne $2,223

Most Popular Apartments in Manhattan

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The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Manhattan apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.