Average Rent in New York, NY – Q1 2025

Rentometer, Inc. | Data as of 03/31/2025

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City Overview

New York City remains the most expensive rental market in the country. With high demand across all boroughs and limited available inventory, rents continue to climb — particularly in Manhattan and parts of Brooklyn. Studio and 1-bedroom apartments are commanding record highs, while 2-bedrooms are now well above $6,000/month on average.

 

Average Rents by Property Type

Property Type	Bedrooms	Avg Rent (Q1 2025)
Apartment	Studio (0)	$3,869
Apartment	1 Bedroom	$5,050
Apartment	2 Bedroom	$6,215

 

Key Takeaways

• 2-bedroom apartments now average $6,215/month — among the highest in the U.S.
• Even studio apartments are nearing $4,000/month, creating affordability challenges across the board.
• NYC continues to be a high-barrier, high-reward market — especially for investors with long-term outlooks.

 

Dive Deeper into Your Market

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Data provided by Rentometer, Inc.