With fairly stable rent prices this month, New York City continued to rank as the second most expensive city to rent in the nation. Over the period, the price of one bedroom units increased 0.3% to a median of $3,200, while two bedroom units fell 1.7% to $3,540.
Manhattan
Tied at a median of $4,500 for one bedroom units, Tribeca and Nomad were the most expensive Manhattan neighborhoods to rent this summer. Greenwich Village ($3,900), Gramercy Park ($3,890), and West Village ($3,850) followed behind as the next priciest areas. The most affordable Manhattan neighborhoods, priced between $1,850 – $2,100, included Washington Heights, Central Harlem, and West Harlem.
Brooklyn
At a median of $3,899 for one bedroom units, DUMBO remained the most expensive Brooklyn neighborhood to rent this summer. Vinegar Hill ($3,650), Brooklyn Heights ($3,100), and Williamsburg ($3,000) were the next priciest areas. Mid-range priced rentals ranging between $2,000 – $2,200 could be found in Bedford-Stuyvesant, Crown Heights, and Bushwick.
If you want to see how New York City compares with the rest of the United States, view our National Rent Report for August.
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