How much does it cost to rent an apartment in NYC?

Here’s the snapshot for renting an apartment in NYC (monthly, unfurnished, market-rate—excluding concessions unless noted):

Citywide average (all unit types): ~$3,600/month. Latest NYC figure is $3,595 (updated Oct 27, 2025).

By bedroom count (citywide averages):

Studio: ~$3,250

1-bed: ~$3,495

2-bed: ~$3,990.

By borough (typical asking/median in late-2025):

Manhattan: roughly $4,900–$5,000 median; Corcoran reports $4,972 for Sep 2025. Prime downtown areas are higher.

Brooklyn: commonly low-$3,000s–$4,000 depending on neighborhood; Elliman’s monthly reports show continued strength in “starter” units.

Queens (NW Queens): generally upper-$2,000s–low-$3,000s for studios/1BRs in LIC/Astoria; borough medians up modestly YoY.

Market context (why it’s so high): NYC remains the priciest U.S. rental market with tight vacancy and strong demand; recent citywide medians hover around $3,599–$4,000 depending on methodology and month.

Useful nuances:

Seasonality: Rents are softer Jan–Mar; stronger in summer. StreetEasy shows mid-year peaks with medians near $4,000.

Fees: Since the FARE Act (late-2024), when a landlord hires the broker, the landlord pays the fee—reducing upfront costs for many tenants.

Neighborhood spread: Some luxe pockets (e.g., Tribeca/SoHo, DUMBO) can far exceed averages; occasional softness appears where new supply hits (e.g., DUMBO).

Rule of thumb for budgeting:

Plan $3.2k–$3.6k for a typical studio citywide, $3.5k–$4.7k for a 1-bed (higher in Manhattan, lower in Queens/Bronx). Pair this with NYC’s 40× rent income norm (e.g., $3,500 rent ≈ $140,000 annual income) when applying.

If you tell me your preferred neighborhoods and max budget, I’ll translate this into a short list of realistic areas (with current local medians) so you know exactly where to focus.

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