At $2,938/mo, rent takes about 41% of the local median household income, well above the 30% benchmark.
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 $2,938 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
Rent in Peekskill changed +6.1% over the year to September 2026. Across the 82 New York cities Zillow tracks, the typical change was +5.3%.
Rent has risen 7 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($85,954) is $2,149 a month. That is less than HUD's Fair Market Rent for a studio ($2,420).
Newburgh, 19 miles away, rents for 34% less ($1,939/mo), about $12,000 a year in savings.
From Zillow's monthly rent index (ZORI) for Peekskill. 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
Peekskill, NY is majority owner-occupied, 37.8% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Peekskill, NY has changed in 5 years
Household income in the area moved from $75,642 to $85,954 across the same window, up 13.6% versus 2021. Headcount in the area went from 25,304 to 25,625 between 2021 and 2024, a 1.3% change. About 40.6% of households rent today, against 44.4% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 33.6% to 37.8%.
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Can you afford rent in Peekskill on your salary?
At $2,938/mo, how Peekskill rent compares to typical pay (30% rule).
Peekskill rent by bedroom count
Median rent for each apartment size in Peekskill. Click any size for full breakdown.
Tips for renters in Peekskill
Last updated: October 17, 2026
The median rent in Peekskill is $2,938/mo as of October 2026. A studio apartment averages $2,420/mo while a 2-bedroom runs $2,800/mo. One-bedroom apartments average $2,530/mo and 3-bedroom units go for $3,490/mo.
At 41% of local median household income ($85,954/yr), Peekskill ranks as moderate compared to the national benchmark of 30%. Rents have increased 6.1% over the past year.
Frequently asked questions
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Is rent going up or down in Peekskill?
How does Peekskill rent compare to other cities in New York?
At $2,938/mo, rent takes ~41% of Peekskill's median household income ($85,954/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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