New Rochelle, NY Rental Market Trends

New Rochelle Rent Report: May 2024

Welcome to the Apartment List May 2024 Rent Report for New Rochelle, NY. Currently, the overall median rent in the city stands at $2,078, after falling 2.6% last month. Prices are now down 0.7% year-over-year. Read on to learn more about what’s been happening in the New Rochelle rental market and how it compares to trends throughout the broader New York metro area and the nation as a whole.

New Rochelle rents are down 2.6% month-over-month and down 0.7% year-over-year

The median rent in New Rochelle fell by 2.6% over the course of April, and has now decreased by a total of 0.7% over the past 12 months. New Rochelle’s rent growth over the past year has is similar to both the state (0.2%) and national averages (-0.8%).

New Rochelle rent growth in 2024 pacing below last year

Four months into the year, rents in New Rochelle have fallen 1.8%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to April 2023 rents had increased 3.3%.

New Rochelle rents are 5.3% lower than the metro-wide median

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 Rochelle ($2,078) is 5.3% lower than the price across the metro as a whole. Metro-wide annual rent growth stands at 0.9%, above the rate of rent growth within just the city.

The table below shows the latest rent stats for 11 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 $3,451. New Brunswick is the metro’s most affordable city, with a median rent of $1,866. The metro's fastest annual rent growth is occurring in Fort Lee (10.5%) while the slowest is in New Brunswick (-3.2%).

City
Median 1BR Rent
Median 2BR Rent
M/M Rent Growth
Y/Y Rent Growth
Fort Lee
$2,093
$2,933
3.0%
10.5%
Hackensack
$2,076
$2,303
1.1%
3.8%
Harrison
$2,659
$2,129
0.8%
-1.1%
Hoboken
$2,931
$4,034
1.8%
0.6%
Jersey City
$2,251
$2,289
1.6%
-3.1%
New Brunswick
$1,606
$1,941
-0.9%
-3.2%
New Rochelle
$1,873
$2,311
-2.6%
-0.7%
New York City
$2,197
$2,317
1.4%
2.2%
West New York
$1,690
$1,908
1.4%
0.2%
White Plains
$2,090
$2,471
-0.5%
-2.2%
Yonkers
$1,719
$2,086
-0.1%
-1.5%
See More

You can also use the map below to explore the latest rent trends in the New York metropolitan area.

Methodology

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.

Data Access

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.

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