Average Rent in New York City & Rent Price Trends

Considering a move to New York? Before you start apartment hunting, learn about the local rental market. Make sure you know the average rent in New York to get your budget started!

Average Rent in New York

• The average rent for a New York studio apartment is $3,638
• The average rent for a New York 1-bedroom apartment is $4,761
• The average rent for a New York 2-bedroom apartment is $6,188
• The average rent for a New York 3-bedroom apartment is $6,544

Note: The data provided reflects our available units on Apartment List. For data that reflects the entire market, we recommend you visit our Rent Report, which is created based on our holistic methodology. You can also download the raw data containing rent estimates for hundreds of cities across the country.

New York Rent Trends: Rent Growth

New York City rents have increased by 1.56% compared to last month, and are up by 31.82% compared to last year.

New York Rent Trends: Inventory by Average Apartment Rent

• 0% of apartments in New York City cost less than $1,000 per month.
• 2% of apartments in New York City cost between $1,000-$1,999 per month.
• 7% of apartments in New York City cost between $2,000-$2,999 per month.
• 90% of apartments in New York City cost over $3,000 per month.

New York Rent Trends: Inventory by Apartment Type

• 22% of apartments in New York City are studio apartments.
• 44% of apartments in New York City are 1-bedroom apartments.
• 22% of apartments in New York City are 2-bedroom apartments.
• 12% of apartments in New York City are 3-bedroom apartments.

What Salary Do You Need to Live in New York?

Using the 30% rule, we can give a rough estimate of the salary needed to rent an apartment in New York. If these numbers look high, remember that a roommate or two can drastically cut down your monthly rent!

• If you are renting an average priced studio apartment in New York City, your annual salary should be around $145,520 or higher.
• If you are renting an average priced 1-bedroom apartment in New York City, your annual salary should be around $190,440 or higher.
• If you are renting an average priced 2-bedroom apartment in New York City, your annual salary should be around $247,520 or higher.
• If you are renting an average priced 3-bedroom apartment in New York City, your annual salary should be around $261,760 or higher.

Having trouble deciding how much rent you can afford? Try using a rent calculator. Then learn about the average cost of living in New York.

Ready to make the move to New York? Start apartment hunting in New York with our quiz!