Manhattan, NY Rental Market Trends

What is the average rent in Manhattan?

The average rent for an apartment in Manhattan is $4,742. The cost of rent varies depending on several factors, including location, size, and quality.

Average rent in Manhattan, NY

Last updated July 2023
Average Rent Average Apartment Size
$4,742 703 sq. ft.

What is the average apartment size in Manhattan?

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

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

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 $1,787/month, Washington Heights, where renters pay $2,438/mo on average, and Randalls and Wards Islands, where the average rent goes for $2,517/mo. If you’re looking for other great deals, check out the listings from Inwood ($2,524), East Harlem ($3,152), and Harlem ($3,378), where the asking prices are below the average Manhattan rent of $4,742/mo.

What are the most expensive neighborhoods in Manhattan?

The most expensive neighborhoods in Manhattan are Battery Park City ($6,173), Little Italy ($6,184) and TriBeCa ($6,184).

What are the most popular neighborhoods in Manhattan?

The most popular neighborhood in Manhattan is East Village, where there are 30 listings with an average rent of $4,668. Next up is Harlem, where apartments go for $3,378/month, followed by Lenox Hill with $4,691 If you’re looking to rent in Manhattan’s most popular neighborhoods, make sure to also check out Greenwich Village, where renters pay $4,788 on average, and Clinton - Hell's Kitchen, where the average monthly rent is $4,616.

Manhattan | Rent Comparison by Neighborhood

Neighborhood
vs.

Rent in Battery Park City is 29% higher than in Carnegie Hill

$6,173

Battery Park City rent is 30% higher than Manhattan average

Average Rent $6,173
$4,769

Carnegie Hill rent is 1% higher than Manhattan average

Average Rent $4,769

How Manhattan Compares to Other Cities

City Average Rent
Manhattan $4,742
Hudson Valley $2,215
Brooklyn $3,350
Brooklyn $3,350
Bronx $1,787
Bronx $1,787
Buffalo $1,289
Albany $1,603
Queens $2,902
Queens $2,902
Ithaca $2,034
Syracuse $1,472
Amityville $2,453
Troy $1,470
Yonkers $2,457
New Rochelle $2,530
Mount Vernon $2,005
Bronxville $3,221
Mamaroneck $3,467
Port Washington $2,760
Scarsdale $1,867

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 $461.14. Rental costs vary depending on several factors, including unit size and the storage facility's location and amenities.

Most Popular Apartments in Manhattan

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