How many apartments are available in New York, NY on Rentable.co?

Rentable.co has over 60,297 apartments available in New York.

What is the average rent for a studio apartment in New York, NY?

The average rent for a studio apartment in New York is around $3,430 per month.

What is the average rent for a one-bedroom apartment in New York, NY?

The average rent for a one-bedroom apartment in New York is around $4,080 per month.

What is the average rent for a two-bedroom apartment in New York, NY?

The average rent for a two-bedroom apartment in New York is around $5,120 per month.

How expensive is living in New York, NY?

Based on average rent prices in New York, to afford a studio apartment you would need an annual salary of $137,000 to live comfortably.

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New York:
May Rent Report

Welcome to the May 2023 New York Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2023 key findings and figures for the New York rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in New York and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of New York average rent prices in the chart below.

Monthly Rent Report

New York Rent Prices Increase From April to May

New York rent prices increased over the last month. From April to May, the city experienced a 3.7% increase for the price of a one-bedroom apartment. The rent price for a New York one-bedroom apartments currently stands at $4,035.0.

When we take a look at the two-bedroom comparison from April to May, New York experienced a 4.33% increase for the price of a two-bedroom apartment. The rent price for a New York two-bedroom apartments currently stands at $4,962.0.

May Prices: New York vs. Surrounding Areas

Rent Prices in New York and Surrounding Areas

Rent prices have increased in New York over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 2 of the New York suburbs increased last month. On the other hand, 5 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rent increased in Jersey City, NJ, Manhattan, NY .
Rent decreased in Brooklyn, NY, New Rochelle, NY, Newark, NJ, East Orange, NJ, Woodbridge, NJ.
1 suburb is currently priced higher than the city of New York.
6 suburbs are currently priced lower than the city of New York.

May 2023 Pricing Trends: New York vs. National Comparisons

New York Rent Prices More Affordable Than Major Cities

Rent growth in New York over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, New York average rent prices appear to be relatively affordable for local residents.

The price for a New York one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about New York and surrounding area rent prices, take a look at the complete data set below.

Data set for New York and suburbs

	1 BR May	1 BR M/M % Change	2 BR May	2 BR M/M % Change
New York, NY	$3,891.0	4.32%	$4,756.0	4.74%
Jersey City, NJ	$3,394.0	1.28%	$4,610.0	1.97%
Brooklyn, NY	$2,677.0	-0.78%	$2,633.0	-4.50%
Manhattan, NY	$4,303.0	1.27%	$6,272.0	-0.10%
New Rochelle, NY	$2,328.0	-3.72%	$3,587.0	-1.70%
Newark, NJ	$1,600.0	-1.05%	$2,058.0	-1.86%
East Orange, NJ	$1,569.0	-1.38%	$1,971.0	0.87%
Woodbridge, NJ	$2,609.0	-1.06%	$3,101.0	-1.71%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.