Rental Market Reports > Single-Family Home Reports > New York

This rental market report examines the average rent in New York for five of the most analyzed cities on Rentometer in Q3 2023.

Summary - Year-Over-Year Rent Change

This rental market report highlights the Q3 2023 average rent prices for three-bedroom (3-BR) single-family rentals (SFRs) in these five cities: Long Island, Queens, Rochester, Staten Island, and Buffalo.

According to our data, Long Beach had the largest year-over-year rent increase of 14%, while Buffalo had a year-over-year rent decrease of 3%.

Methodology

  • Geography: This report considers rent changes in Rentometer’s five most analyzed SFR markets in New York during Q3 2023.

  • Property Type: 3-BR SFRs with all bathroom counts.

  • Analysis: Rent data was analyzed year-over-year for each city.

  • Data: New rents collected at the beginning and end of each quarter are reported, excluding outliers below $500 and above $10,000.

Year-Over-Year Change in Average Rent: 3-BR SFRs

Rent prices in these five New York cities experienced the following year-over-year rent increases in Q3 2023:

  • The average Long Beach rent price is $4,479 with a year-over-year rent price increase of 14%
  • The average Queens rent price is $3,607 with a year-over-year rent price increase of 12%
  • The average Rochester rent price is $1,889 with a year-over-year rent price increase of 11%
  • The average Staten Island rent price is $3,122 with a year-over-year rent price increase of 10%
  • The average Buffalo rent price is $1,629 with a year-over-year rent price decrease of 3%
City/State Q3 2022
Average Rent
Q3 2023
Average Rent
YoY %
Change
Long Beach, NY $3,914 $4,479 14%
Queens, NY $3,229 $3,607 12%
Rochester, NY $1,770 $1,889 11%
Staten Island, NY $2,840 $3,122 10%
Buffalo, NY $1,675 $1,629 -3%

 

 

 

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Please note the research and data included in this report is aggregated from a variety of sources and many are third parties that are not affiliated with Rentometer, Inc. The information is believed to be accurate, but Rentometer, Inc. does not provide a warranty of any kind, either expressed or implied.