When you think of New York City, a lot of things come to mind: Concrete Jungle, Skyscraper National Park, The Big Apple. When you think of apartment hunting in New York City, one thing comes to mind: Pounding Headache! Have no fear; we've outlined all the information you’ll need to make the search as quick and painless as possible! Here's how you can increase your chances of finding your dream apartment:
Financial preparedness is key
When you think of New York City, a lot of things come to mind: Concrete Jungle, Skyscraper National Park, The Big Apple. When you think of apartment hunting in New York City, one thing comes to mind: Pounding Headache! Have no fear; we've outlined all the information you’ll need to make the search as quick and painless as possible! Here's how you can increase your chances of finding your dream apartment:
Financial preparedness is key. New York City landlords typically require renters to make 40-50 times the monthly rent annually. Have your paperwork in order, including identification, proof of income, references from previous landlords, and a credit report (if requested). Delays due to missing documentation can cost you the apartment. If your income falls below the threshold set by the landlord, having a guarantor who earns a sufficient income can significantly strengthen your application.
Also, embrace the research phase. Spend significant time researching neighborhoods, understanding average rent prices for your desired apartment size, and familiarizing yourself with the application process. Utilize reliable rental listing websites and attend open houses to get a feel for the market. Along those lines, try to be flexible and open-minded. While you may have a specific neighborhood in mind, consider exploring adjacent areas that might offer better options within your budget.
Remember, renting in New York City requires proactiveness. Be persistent in your search, attend open houses, and don't be discouraged if you face initial setbacks. With thorough research, preparation, and a little bit of hustle, you'll be well on your way to securing your perfect apartment in the Big Apple.
The following rent averages come from current listings on our website. Rent prices listed are averages and may not reflect the cost of specific units. Rental prices can vary depending on factors like size, location, amenities, and availability.
On average, expect to pay around $3,543 per month for a studio apartment in New York City.
The average rent for a 1-bedroom apartment in New York City is approximately $4,399 per month.
In New York City, a 2-bedroom apartment typically rents for around $5,799 per month.
A 3-bedroom apartment in New York City will cost, on average, $6,984 per month.
In NYC you can get just about anywhere using public transportation and your own two feet. In fact, many see owning a car in NYC as more of a liability than a convenience. With that in mind, here’s a few things you should know about the MTA:
Subways and Buses: The MTA operates a vast network of subways (trains) and buses that cover all five boroughs (New York City is made up of five distinct boroughs: Manhattan, Brooklyn, Queens, The Bronx, and Staten Island).
MetroCard or OMNY: To ride the subway or bus, you'll need a MetroCard (a reloadable fare card) or contactless payment through OMNY (available with most smartphones or credit cards). Both options allow you to pay-per-ride or purchase unlimited ride MetroCards for a set period.
Subways: The subway system runs 24/7 and consists of numbered lines (1, 2, 3, etc.) and lettered lines (A, B, C, etc.). Each line has its own route and stops throughout the city.
Buses: Buses offer another convenient option, especially for reaching specific locations within a borough. While some routes operate 24/7, most follow daytime schedules.
Transfers: With a single MetroCard swipe or OMNY tap, you can transfer between subways and buses within a two-hour window, allowing you to reach various destinations using a single fare.
Quick Note: The left side of the subway escalator is for those rushing, stay on the right side if you’re feeling like a casual stroll.
Finding a pet-friendly apartment in New York City can feel overwhelming, but don't despair! While the city boasts a vibrant mix of cultures and energy, pet policies can vary significantly.
The good news? New York City offers a surprising number of pet-friendly options. Here are some resources. Furthermore, major rental listing websites like Apartment List allow filtering by pet-friendliness. Simply select “Dog-Friendly” or “Cat-Friendly” in your preferences when you start your search.
Still have questions about living in New York? Here are some of the most common things people ask about living in the city:
Using a broker or an apartment locator is often recommended when renting in New York City (especially in summer and early fall – NYC’s most difficult times to rent) and while brokers can charge a fee ranging from one month’s rent to 15% of one’s annual rent, in certain circumstances it may save you both time and money in the long run. Many brokers have access to rentals that aren't listed elsewhere, so if you've hit a dead end in your apartment search, it’s probably worth a phone call. Just keep in mind that the shorter the lease, the more expensive they come. Most brokers deal in long leases, so make sure you really want to live in your selected spot before committing.
You can find the best deals on rent in neighborhoods like the Bronx (with an average of $2,247 for a one-bedroom), Harlem (where one bedrooms go for around $2,276), the East Village (around $3,705 for a one-bedroom).
We tend to recommend that renters follow a budgeting rule that caps the amount you spend on rent to 30% of your income. With that in mind, here's a breakdown of ideal rent prices based on what you earn. Note that the average rent in New York City is well above the ideal rent for a $100,000 a year salary, meaning many renters will either look to less expensive neighborhoods or try to find roommates.
On a $30,000 a year salary, your ideal rent price is $750.
On a $40,000 a year salary, your ideal rent price is $1,000.
On a $50,000 a year salary, your ideal rent price is $1,250
On a $75,000 a year salary, your ideal rent price is $1,875
On a $100,000 a year salary, your ideal rent price is $2,500
If you're an average renter, Manhattan is probably not on your radar since it's known as a pricey neighborhood. However, you might try looking at the northern regions of Harlem, Washington Heights and Inwood. These neighborhoods more budget-friendly. The only drawback to living ‘round these parts could be your commute downtown (assuming that’s where you’ll be winning your bread). Thirty-minute commutes to the subway train are standard fare, so you better bring some comfy walking shoes. Whoever said a little exercise was a bad thing anyway?
Another neighborhood to check out is the “new” Upper East Side, in the 80’s close to York Avenue. Has a plethora of dive bars.
Your New York options are truly endless! We suggest pointing yourself towards the East Village for an amazing nightlife, the West Village for cobblestone-street cuteness and adorable sidewalk eateries, Midtown for easy access to the best theater in the world, the Upper East Side for endless museums, or the Upper West Side for strolls through Central Park with your pooch.
If you’re a foodie at heart, Queens may just be the borough for you. It has often been said, “I ate my way around the world and never left Queens!” The main thing to keep in mind if you decide to go to one of the outer boroughs is commuting time. Obviously, the closer you are to Manhattan, the shorter your commute will be. And if you end up in the outer-reaches of a far-out borough, make sure you are close to public transportation.
Brooklyn has their spacey apartments. The farther east or south you go, the further your dollar stretches. Just keep that commute we warned you about locked in your mind.
The South Bronx is home to Yankee Stadium, so the area is undergoing a lot of positive development. Amazing deals and lifestyles can also be found in the Northeast Bronx in the neighborhoods of Pelham Parkway and Co-cop City. The apartments will be spacier, and you’ll ultimately get more bang for your buck...not only in rent, but also bodegas, grocery stores and restaurants. When it comes to having and housing a car, The Bronx is the most user-friendly neighborhood around. It's not uncommon to find street parking, and the parking garages are a fraction of what you will pay in other boroughs.
If you are looking to stay with the suburb experience while still calling yourself a “New Yorker”, we would recommend living in Staten Island. It can only be reached by a bridge from Brooklyn (i.e. a car is a must), or a 20-minute ferry ride that will take you to the bottom of Manhattan. The North Shore is home to the hoods St. George, Tompkinsville, Clifton and Stapleton, and is the most urban of the island.
The representation of ethnic minorities in New York City is higher than the national average. The eight main ethnic groups that make up the population of New York City are White (31.9%), Hispanic Or Latino (29.1%), Black Or African American (21.7%), Asian (14.3%), Two Or More (2.1%), Other (0.8%), American Indian Or Alaska Native (0.2%), and Native Hawaiian Or Other Pacific Islander (0%).
The representation of ethnic minorities in New York City is higher than the national average. The eight main ethnic groups that make up the population of New York City are White (31.9%), Hispanic Or Latino (29.1%), Black Or African American (21.7%), Asian (14.3%), Two Or More (2.1%), Other (0.8%), American Indian Or Alaska Native (0.2%), and Native Hawaiian Or Other Pacific Islander (0%).
Apartment List has released the results for New York City from the third annual Apartment List Renter Satisfaction Survey. This survey, which drew on responses from over 45,000 renters nationwide, provides insight on what states and cities must do to meet the needs of the country’s 111 million renters.
These New York City neighborhoods are insanely popular right now! Renters are hunting down properties in these places.
Searching for an apartment for rent in New York City, NY? Look no further! Apartment List will help you find a perfect apartment near you. There are 1,225 available rental units listed on Apartment List in New York City. Click on listings to see photos, floorplans, amenities, prices and availability, and much more!
The average rent in New York City is $3,720 for a studio, $4,433 for a one-bedroom apartment, and $5,995 for a two-bedroom apartment. If you are looking for a deal, keep an eye out for a red pulsing icon that indicates rent specials.
Tired of browsing? Take our personalized quiz. You’ll answer a couple of simple questions and we’ll put together a list of New York City apartments that are best for you. We’ll also factor in your commute, budget, and preferred amenities. Looking for a pet-friendly rental, or an apartment with in-unit washer and dryer? No problem, we’ll provide you with apartments that match that criteria.
You can trust Apartment List to help you find your next New York City, NY apartment rental! After all, everyone deserves a home they love.
Welcome to the Apartment List December 2024 Rent Report for New York City, NY. Currently, the overall median rent in the city stands at $2,356, after falling 1.3% last month. Prices remain up 2.1% year-over-year. Read on to learn more about what’s been happening in the New York City rental market and how it compares to trends throughout the broader New York metro area and the nation as a whole.
The median rent in New York City fell by 1.3% over the course of November, and has now increased by a total of 2.1% over the past 12 months. New York City’s rent growth over the past year has has outpaced both state (0.2%) and national (-0.6%) averages.
Eleven months into the year, rents in New York City have risen 5.1%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to November 2023 rents had increased 6.4%.
New York City rents went down 1.3% in the past month, compared to the national rate of -0.8%. Among the nation's 100 largest cities, this ranks #85. Similar monthly rent growth took place in Corpus Christi, TX (-1.3%) and Memphis, TN (-1.4%).
Citywide, the median rent currently stands at $2,249 for a 1-bedroom apartment and $2,371 for a 2-bedroom. Across all bedroom sizes (ie, the entire rental market), the median rent is $2,356. That ranks #7 in the nation, among the country's 100 largest cities.
For comparison, the median rent across the nation as a whole is $1,214 for a 1-bedroom, $1,368 for a 2-bedroom, and $1,382 overall. The median rent in New York City is 70.5% higher than the national, and is similar to the prices you would find in Santa Clarita, CA ($2,439) and Boston, MA ($2,344).
If we expand our view to the wider New York metro area, the median rent is $2,194 meaning that the median price in New York City ($2,356) is 7.4% greater than the price across the metro as a whole. Metro-wide annual rent growth stands at 0.2%, below the rate of rent growth within just the city.
The table below shows the latest rent stats for 13 cities in the New York metro area that are included in our database. Among them, Hoboken is currently the most expensive, with a median rent of $3,406. Newark is the metro’s most affordable city, with a median rent of $1,654. The metro's fastest annual rent growth is occurring in New Brunswick (5.1%) while the slowest is in West New York (-6.3%).
You can also use the map below to explore the latest rent trends in the New York metropolitan area.
Apartment List is committed to the accuracy and transparency of our rent estimates. We begin with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, capturing apartment transactions over time to provide an accurate picture of rent growth in cities across the country. Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. For more details, please see the Apartment List Rent Estimate Methodology.
Apartment List publishes monthly rent reports and underlying data for hundreds of cities across the nation, as well as data aggregated for counties, metros, and states. These data are intended to be a source of reliable information that help renters and policymakers make sound decisions. Insights from our data are covered regularly by journalists across the country. To access the data yourself, please visit our Data Downloads Page.
Welcome to the Apartment List December 2024 Rent Report for New York City, NY. Currently, the overall median rent in the city stands at $2,356, after falling 1.3% last month. Prices remain up 2.1% year-over-year. Read on to learn more about what’s been happening in the New York City rental market and how it compares to trends throughout the broader New York metro area and the nation as a whole.
Apartment List has released New York’s results from the third annual Apartment List Renter Satisfaction Survey. This survey, which drew on responses from over 45,000 renters nationwide, provides insight on what states and cities must do to meet the needs of the country’s 111 million renters.
"New York renters expressed general satisfaction with the city overall," according to Apartment List. "Interestingly, ratings for New York vary widely across categories such as public transit, safety, and local taxes."
Key Findings in New York include the following:
Renters say:
"New York has tons of interesting neighborhoods, restaurants, and public transportation to get around. Unfortunately, weekend transit is pretty unreliable." -Justin L.
"The best things about the city are the amazing food options, cultural diversity, and nightlife. But the downsides are crowds, transportation delays, and dirty streets." -Molly G.
"I love having access to transportation, but I hate the cost of living and high rent prices." -Erica D.
"Great access to food and entertainment, but commute times are long." -Elias
For more information on the survey methodology and findings or to speak to one of our researchers, please contact our team at rentonomics@apartmentlist.com.
When you think of New York City, a lot of things come to mind: Concrete Jungle, Skyscraper National Park, The Big Apple. When you think of apartment hunting in New York City, one thing comes to mind: Pounding Headache! Have no fear; we've outlined all the information you’ll need to make the search as quick and painless as possible! Here's how you can increase your chances of finding your dream apartment:
Financial preparedness is key
View New York City Guide
