1936 Luxury Apartments for rent in New York, NY

Last updated March 24 at 3:56am UTC
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March 2018 New York Rent Report

Welcome to the March 2018 New York Rent Report. New York rents declined over the past month. In this report, we'll evaluate trends in the New York rental market, including comparisons to cities throughout the state and nation.

View full New York Rent Report
Rent Report
New York

March 2018 New York Rent Report

Welcome to the March 2018 New York Rent Report. New York rents declined over the past month. In this report, we'll evaluate trends in the New York rental market, including comparisons to cities throughout the state and nation.

New York rents declined slightly over the past month

New York rents have declined 0.2% over the past month, but have been relatively flat at 0.2% in comparison to the same time last year. Currently, median rents in New York stand at $2,060 for a one-bedroom apartment and $2,460 for a two-bedroom. This is the sixth straight month that the city has seen rent decreases after an increase in August of last year. New York's year-over-year rent growth lags the state average of 0.7%, as well as the national average of 2.3%.

Rents rising across cities in New York

Throughout the past year, rents have remained steady in the city of New York, but other cities across the entire state have seen rents increase. Of the largest 10 cities that we have data for in New York, 8 of them have seen prices rise. The state as a whole logged rent growth of 0.7% over the past year. Here's a look at how rents compare across some of the largest cities in the state.

  • Looking throughout the state, Hoboken is the most expensive of all New York's major cities, with a median two-bedroom rent of $2,570; of the 10 largest cities in New York that we have data for, White Plains and Newark, where two-bedrooms go for $2,080 and $1,390, are the only two major cities in the state to see rents fall year-over-year (-1.9% and -0.9%).
  • Rochester, Buffalo, and Syracuse have all experienced year-over-year growth above the state average (2.7%, 2.6%, and 2.0%, respectively).

Comparable cities nationwide show more affordable rents compared to New York

Rent growth in New York has been relatively stable over the past year - some other large cities have seen more substantial increases; in contrast, rents in a few cities have actually declined. Compared to most other large cities across the country, New York is less affordable for renters.

  • New York's median two-bedroom rent of $2,460 is above the national average of $1,160. Nationwide, rents have grown by 2.3% over the past year compared to the stagnant growth in New York.
  • While rents in New York remained moderately stable this year, similar cities saw increases, including Los Angeles (+3.8%), Houston (+2.7%), and Boston (+2.7%); note that median 2BR rents in these cities go for $1,730, $1,020, and $2,060 respectively.
  • Renters will generally find more expensive prices in New York than most similar cities. For example, Houston has a median 2BR rent of $1,020, where New York is nearly two-and-a-half times that price.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
New York $2,060 $2,460 -0.2% 0.2%
Newark $1,170 $1,390 -2.0% -0.9%
Jersey City $1,570 $1,870 0.1% 0.5%
Union City $1,340 $1,590 0.1% 1.4%
White Plains $1,750 $2,080 0.9% -1.9%
Hoboken $2,160 $2,570 0.2% 1.8%
West New York $1,220 $1,460 -0.1% 1.4%
Hackensack $1,450 $1,720 0.2% 2.8%

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.


Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start 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, comparing only units that are available across both time periods 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. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.