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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