Rents are 6% above what New York's 10-year trend predicts — running hotter than its own history.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $4,089 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in New York usually run 1.6% below trend in January and 1.6% above it in August, about $131 a month apart at today's median. Based on 11 years of data.
Rent in New York is at its highest level since Zillow's records here began in January 2015.
Rent in New York changed +5.3% over the year to September 2026. Across the 82 New York cities Zillow tracks, the typical change was +5.3%.
From 2019 to 2024, rent in New York rose 23.9% while median household income rose 25.8% ($63,998 to $80,483). Income kept ahead of rent.
Rent has risen 68 months in a row, and rose in 12 of the last 12 months.
30% of the median household income ($80,483) is $2,012 a month. That is less than HUD's Fair Market Rent for a studio ($2,625).
The priciest of 145 ZIP codes in New York, 10007 ($8,183/mo), costs 3.9 times the cheapest, 10309 ($2,121/mo).
Jersey City, NJ, 3 miles away, rents for 24% less ($3,101/mo), about $11,900 a year in savings.
From Zillow's monthly rent index (ZORI) for New York. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
New York, NY is majority renter-occupied, 41.6% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How New York, NY has changed in 5 years
Since 2021, the typical rent in New York, NY has increased from $2,676 to $4,089, a 52.8% change over five years. Median household income rose from $70,663 to $80,483 between 2021 and 2024, a 13.9% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has contracted by 2.9% since 2021, moving from about 8,736,047 residents to roughly 8,483,844. College-educated residents now make up 41.6% of adults here, versus 39.6% in 2021. Taken together, the five-year picture in New York, NY reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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At $4,089/mo, how New York rent compares to typical pay (30% rule).
New York rent by bedroom count
Median rent for each apartment size in New York. Click any size for full breakdown.
Tips for renters in New York
Last updated: October 17, 2026
The median rent in New York is $4,089/mo as of October 2026. A studio apartment averages $2,625/mo while a 2-bedroom runs $3,032/mo. One-bedroom apartments average $2,732/mo and 3-bedroom units go for $3,782/mo.
At 61% of local median household income ($80,483/yr), New York ranks as expensive compared to the national benchmark of 30%. Rents have increased 5.3% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than New York?
At $4,089/mo, rent takes ~61% of New York's median household income ($80,483/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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