New York City Neighborhood Rent Prices Mapped (Fall 2018)

Coming ahead of San Jose, Los Angeles, and Boston, New York City ranked as the second most expensive rental market in the nation last month with the price of one bedroom rent decreasing 0.7% to $2,850, while two bedrooms increased 0.3% to $3,280.

Manhattan & Bronx

In terms of growth, the Lower East Side had the fastest growing rent in Manhattan since last quarter, up over 9%, while Mott Haven and Morrisania prices had the largest growth rates in the Bronx, both up over 9% as well. On the other hand, Soho saw the largest rent dip in Manhattan, down 6%, while no neighborhoods in the Bronx had notable decreases since last quarter.

This fall, Tribeca, Chelsea, and West Village continued to rank as the most expensive neighborhoods in Manhattan, all with rents priced above the $3,800 threshold. On the other end of the cost spectrum, Inwood ($1,750) and Washington Heights ($1,800) were the most affordable Manhattan areas.

In the Bronx, Point Morris ($1,900) and Mott Haven ($1,840) on our map remained the most expensive neighborhoods while Woodstock and Hunts Point, both tied at $1,400, dropped below Morrisiana to become the least expensive rental areas this quarter.

Brooklyn

In Brooklyn, while Fort Greene and Prospect Heights had the fastest growing rents since last quarter, both up over 10%, Canarsie and Vinegar Hill‘s prices saw the largest rent dips, both down around 12%.

DUMBO continued to reign as the most expensive neighborhood with one bedroom rent priced at $3,920. Other notably pricey areas with rentals above the $3,000 threshold included Downtown Brooklyn and Vinegar Hill. Meanwhile, the most affordable areas in Brooklyn included Canarsie, Maspeth, and Borough Park.

If you’re interested in how New York rent prices compare with the rest of the nation’s, check out our National Rent Report for October.

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For a more in-depth discussion of our methodology, check out our post here.