Manhattan, NY Rental Market Trends
What is the average rent in Manhattan?
The average rent for an apartment in Manhattan is $4,768. The cost of rent varies depending on several factors, including location, size, and quality.
Average rent in Manhattan, NY
Last updated November 2023
| Average Rent | Average Apartment Size |
|---|---|
| $4,768 | 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
572,415 or 76% of the households in Manhattan, NY are renter-occupied while 185,011 or 24% are owner-occupied.
Manhattan, NY rent trends
Average Rent in Manhattan, NY By Neighborhood
| City | Average Rent |
|---|---|
| Battery Park City | $6,320 |
| TriBeCa | $6,284 |
| NoLIta | $5,920 |
| SoHo | $5,920 |
| Lincoln Square | $5,749 |
| Hudson Square | $5,642 |
| Lower East Side | $5,276 |
| Hudson Yards | $5,192 |
| Upper West Side | $5,180 |
| West Village | $5,111 |
| Two Bridges | $5,099 |
| Chelsea | $5,051 |
| Manhattan Valley | $5,030 |
| Civic Center | $5,029 |
| Garment District | $4,934 |
| Koreatown | $4,934 |
| NoMad | $4,871 |
| Meatpacking District | $4,864 |
| Greenwich Village | $4,848 |
| Carnegie Hill | $4,827 |
| Yorkville | $4,827 |
| Flatiron District | $4,810 |
| Peter Cooper Village | $4,794 |
| East Village | $4,782 |
| Lenox Hill | $4,759 |
| Kips Bay | $4,744 |
| Morningside Heights | $4,743 |
| Theatre District - Times Square | $4,708 |
| Murray Hill | $4,672 |
| Clinton - Hell's Kitchen | $4,667 |
| Central Midtown | $4,666 |
| Sutton Place | $4,633 |
| Central Park South | $4,624 |
| Financial District | $4,584 |
| Turtle Bay | $4,525 |
| Liberty Island | $4,443 |
| Stuyvesant Town | $4,030 |
| Harlem | $3,265 |
| East Harlem | $3,071 |
| Inwood | $2,571 |
| Washington Heights | $2,483 |
| Marble Hill | $1,811 |
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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 $1,811/month, Washington Heights, where renters pay $2,483/mo on average, and Inwood, where the average rent goes for $2,571/mo. If you’re looking for other great deals, check out the listings from East Harlem ($3,071), Harlem ($3,265), and Stuyvesant Town ($4,030), where the asking prices are below the average Manhattan rent of $4,768/mo.
What are the most expensive neighborhoods in Manhattan?
The most expensive neighborhoods in Manhattan are SoHo ($5,920), TriBeCa ($6,284) and Battery Park City ($6,320).
What are the most popular neighborhoods in Manhattan?
The most popular neighborhood in Manhattan is Chelsea, where there are 14 listings with an average rent of $5,051. Next up is Civic Center, where apartments go for $5,029/month, followed by Theatre District - Times Square with $4,708 If you’re looking to rent in Manhattan’s most popular neighborhoods, make sure to also check out Financial District, where renters pay $4,584 on average, and Lenox Hill, where the average monthly rent is $4,759.
Manhattan | Rent Comparison by Neighborhood
Rent in Battery Park City is 31% higher than in Carnegie Hill
$6,320
Battery Park City rent is 33% higher than Manhattan average
Average Rent
$6,320
$4,827
Carnegie Hill rent is 1% higher than Manhattan average
Average Rent
$4,827
How Manhattan Compares to Other Cities
| State | Average Rent |
|---|---|
| New York City | $4,416 |
| Manhattan | $4,768 |
| Brooklyn | $3,558 |
| Queens | $2,925 |
| Bronx | $1,811 |
| Jersey City | $3,577 |
| Hudson Valley | $2,272 |
| Ithaca | $2,018 |
| Melville | $3,867 |
| Albany | $1,615 |
| Farmingdale | $2,886 |
| White Plains | $3,064 |
| Mount Vernon | $2,023 |
| Newark | $1,507 |
| Passaic | $1,755 |
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 $347.72. Rental costs vary depending on several factors, including unit size and the storage facility's location and amenities.
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