Median rents, rental comps, and market trends across 14 zip codes in New York, NY.
Largest rental market in the country by a wide margin. The regulations have regulations, and the compliance costs are real. But 8 million people crammed onto an island and its boroughs means demand is the one thing you never have to worry about.
Median Asking Rent
$4,851
Rent Change (YoY)
+3.9%
Avg Days on Market
84
Active Rental Listings
8,738
Median List Price
$1,450,000
Average across 14 zip codes
ZIP | Median Rent |
|---|---|
| 10001 | $5,616/mo |
| 10003 | $5,600/mo |
| 10011 | $5,500/mo |
| 10025 | $4,973/mo |
| 10021 | $4,950/mo |
| 10036 | $4,834/mo |
| 11215 | $4,825/mo |
| 11201 | $4,810/mo |
| 10019 | $4,780/mo |
| 10128 | $4,700/mo |
| 11217 | $4,695/mo |
| 11238 | $4,300/mo |
| 10029 | $3,525/mo |
| 11221 | $3,125/mo |
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| Unit Size | Median Rent |
|---|---|
| Studio | $3,660/mo |
| 1 Bedroom | $4,500/mo |
| 2 Bedroom | $6,373/mo |
| 3 Bedroom | $7,000/mo |
| 4 Bedroom | $5,179/mo |
Aggregated median across all New York zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 10001 | $2,800,000 |
| 11217 | $1,950,000 |
| 10011 | $1,800,000 |
| 11201 | $1,699,000 |
| 10019 | $1,595,000 |
| 11215 | $1,500,000 |
| 10003 | $1,495,000 |
| 11238 | $1,450,000 |
| 10021 | $1,350,000 |
| 10128 | $1,275,000 |
| 10025 | $1,250,000 |
| 10036 | $1,195,000 |
| 11221 | $1,150,000 |
| 10453 | $899,000 |
| 10029 | $825,000 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $3,800/mo |
| 1 Bedroom | $3,990/mo |
| 2 Bedroom | $4,370/mo |
| 3 Bedroom | $5,470/mo |
| 4 Bedroom | $5,950/mo |
Fair Market Rents are published annually by HUD for the New York metropolitan area. Local housing authorities use these to set Section 8 voucher payment standards, typically between 90% and 110% of the FMR.
The median asking rent across New York, NY is currently $4,851/month, based on active rental listings across 14 zip codes. Median asking rents have increased by +3.9% over the past 12 months.
Asking rents vary significantly across the city. ZIP 10001 has the highest median asking rent at $5,616/month, while ZIP 11221 comes in at $3,125/month.
Rental listings in the area spend an average of 84 days on market before being leased, suggesting a more tenant-friendly market.
The HUD Fair Market Rent for a 2-bedroom in the New York metro area is $4,370/month. Current median asking rents are above the FMR, which is common in growing markets.
New York is in a category by itself. More people rent than own here, and the demand for apartments is basically bottomless. Manhattan is obviously premium, but Brooklyn neighborhoods like Williamsburg, Park Slope, and DUMBO get high rents too. The Bronx, parts of Queens, and Upper Manhattan are where investors look for value. The regulatory complexity is real — rent stabilization, good cause eviction laws, strict building codes, and local laws that change frequently. You absolutely need to understand whether a unit is rent-stabilized before you buy anything. The returns can be strong if you know the system, but this is not a market for people who want simple.
Want to look up rental comps and rent estimates for a specific property in New York? PropMetrics lets you search any address and get detailed rental data instantly.
Get rent estimates, comparable rentals, and market data for any property in New York, NY. Free to start.
What rental comps are, what makes a good one, and how to use them to price your rental property accurately.
Fair market rent, Section 8, HUD... what does it all mean? A straightforward breakdown of how it works and why it matters.
A step-by-step guide to pricing your rental so it rents quickly without leaving money on the table.