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What to Know About
Living in New York, NY
New York is "The City That Never Sleeps" and is one of the most exciting places in the world, which offers a diverse population and an unforgettable blend of culture, history, and energy. As the largest city in the United States, New York is a global hub for business, finance, fashion, and entertainment, with iconic landmarks such as the Statue of Liberty, the Empire State Building, Central Park, and the Metropolitan Museum of Art.
Sports fans will enjoy the excitement of rooting for its many teams, such as the New York Yankees (NFL), New York Giants (NFL), New York Rangers (NHL), and New York Knicks (NBA), or check out its thrilling theater, art, and social scene, including Broadway shows, world-class galleries, and events like the New York Fashion Week, Tribeca Film Festival, and Macy's Thanksgiving Day Parade. New York is also home to several prestigious universities and colleges, including Columbia University, NYU, and The New School.
Immerse yourself in the diversity and energy of this dynamic city and find your perfect home among its bustling streets and towering skyscrapers. Embrace the power of New York - a city that offers its residents a high quality of life and many opportunities.
Rental Market Trends
New York, NY
As of June 2025, New York's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. New York City's average rent is 102.8% ($2,352) higher than the New York average of $2,287 and 160.0% ($2,855) higher than the U.S. average of $1,784.
Average Rent
$4,639
Monthly ChangeMonth Over Month Change
3.1% ($150)
Yearly ChangeYear Over Year Change
1.5% ($67)
Avg. Days on MarketAverage Days on Market
36
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $4,093 | 1.3% ($56) | 2.6% ($104) |
| 2 Beds | $4,691 | 1.3% ($64) | 19.8% ($1159) |
| 3 Beds | $5,434 | 1.4% ($75) | 21.3% ($1474) |
| Nearby Cities | Average Rent | Avg. Rent vs. New YorkAverage Rent vs. New York | Avg. Days on MarketAverage Days on Market |
|---|---|---|---|
| Long Island City | $4,624 | 0.3% ($15) | 41 days |
| Hoboken | $4,210 | 9.2% ($429) | 31 days |
| Weehawken | $3,495 | 24.7% ($1144) | 25 days |
| Union City | $2,724 | 41.3% ($1915) | 27 days |
| West New York | $2,772 | 40.2% ($1867) | 77 days |
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
New York Rental Market FAQs
Explore rental prices, market trends, and availability in New York, NY.
The average rent in New York, NY is $4,639 per month.
Homes in New York typically rent for between $2,865 and $7,064 per month, with an average of $4,639 per month.
In New York, the average rent for a 1-bedroom home is $4,093 per month, for a 2-bedroom home, $4,691 per month, and a 3-bedroom home is $5,434 per month.
The average rent in New York is 160% ($2,855) higher than the national average of $1,784 per month.
The average rent in New York has decreased by 3.1% ($150) in the last month and increased by 1.5% ($67) over the past year.
The rental market in New York, NY, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In New York, NY, the average rental stays on the market for approximately 36 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 2,102 rental properties available in New York, NY.
Based on the current averages, a household would need an annual income of $187,640 to comfortably afford a 2-bedroom home in New York.
