The Riverdale Tower
3745 Riverdale Ave,
The Bronx, NY 10463
Studio - 2 Beds | $2,200 - $4,750
Rental Market Trends in New York, NY
What is the average rent in New York, NY?
$3,889/month
Average Rent
597 Sq Ft
Average Apartment Size
+1.8%
Increase in the Last Year
As of February 2025, the average rent in New York, NY is $3,889 per month. This is 150% higher than the national average rent price of $1,556/month, making New York one of the most expensive cities to rent an apartment in the US.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in New York, NY?
In the past year, rent has increased by 1.8%, which averages out to $71 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated February 2025
Legend
2024
2025
Rent Ranges in New York, NY
Last Updated February 2025
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
1%
Below $700/month
2%
$700 - $1,000/month
4%
$1,001 - $1,500/month
10%
$1,501 - $2,000/month
83%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in New York?
Based on current rent prices, Lower East Side, East Village and Stuyvesant Town-Peter Cooper Village are the most affordable neighborhoods in New York.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in New York?
Based on current rent prices, Lincoln Square, Midtown West and Midtown East are the most expensive neighborhoods in New York.
Neighborhood
Average Rent
Average Sq Ft
Which New York neighborhoods have the most rentals available?
The neighborhoods in New York with the most apartments available are Midtown South, Midtown West and Lower West Side .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in New York City?
With the average rent in New York being $3,889, you’ll want to make about $12,963 per month or $155,556 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our Rent Affordability Calculator to determine what an affordable rent amount is for you.
Cost of Living
The cost of living in New York, NY is 129.6% higher than the national average. Generally, housing in New York is 411.8% more expensive than the national average, with rent falling between $3,146 - $6,556. You can expect to pay 15.4% more for groceries, 9.1% more for utilities, and 13.8% more for transportation.
How does New York, NY compare to other nearby cities and neighborhoods?
Use the tool below to compare New York, NY to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$3,878/month
$3,031/month
One Bedroom
$4,158/month
$4,110/month
Two Bedroom
$4,540/month
$4,644/month
Three Bedroom
$5,042/month
$6,363/month
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.