Average Rent Prices in New York (NY)
$1,0331
Studio
$1,1351
1BR
$1,3951
2BR
$1,7701
3BR
$1,9451
4BR
As of 2023, the overall average fair market rent for a residential rental property in New York is $1,456. Average rent prices in New York sit above the national average rent of $1,274, in which New York ranks as the 14th highest rent among all 50 states and the 37th lowest rent among all 50 states within the United States. In New York’s large metropolitan areas such as New York, NY, the average rent prices tend to be higher, while alternative areas such as Syracuse, NY, can provide more affordable options.
1Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout the United States, excluding Puerto Rico.
Rent Rankings
14th
Highest Rent Among 50 States
37th
Lowest Rent Among 50 States
Above
The National Rent Average
Definitions
Studio – A one-room unit with a private bathroom.
1BR – A unit that has a separate bathroom and a separate bedroom.
2BR – A unit that has two separate and distinct bedrooms.
3BR – A unit that has 3 separate and distinct bedrooms.
4BR – A unit that has 4 separate and distinct bedrooms.
Fair Market Rent – Gross rent estimate for a standard rental unit in a given market.
Average Rent Prices in New York (NY) Visual Chart
Average Rent Prices in New York (NY) by Metro Area
| wdt_ID | Metro | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|---|
| 1 | Albany-Schenectady-Troy, NY MSA | 968 | 1.079 | 1.313 | 1.598 | 1.764 |
| 2 | Binghamton, NY MSA | 725 | 758 | 964 | 1.261 | 1.366 |
| 3 | Buffalo-Cheektowaga-Niagara Falls, NY MSA | 869 | 908 | 1.069 | 1.309 | 1.470 |
| 4 | Elmira, NY MSA | 808 | 810 | 1.039 | 1.333 | 1.481 |
| 5 | Glens Falls, NY MSA | 790 | 896 | 1.119 | 1.451 | 1.503 |
| 6 | Ithaca, NY MSA | 1.187 | 1.276 | 1.487 | 1.890 | 1.998 |
| 7 | Kingston, NY MSA | 1.089 | 1.155 | 1.498 | 1.961 | 2.185 |
| 8 | Nassau-Suffolk, NY HUD Metro FMR Area | 1.536 | 1.914 | 2.297 | 2.952 | 3.245 |
| 9 | New York, NY HUD Metro FMR Area | 2.123 | 2.170 | 2.451 | 3.078 | 3.316 |
| 10 | Poughkeepsie-Newburgh-Middletown, NY MSA | 1.126 | 1.233 | 1.583 | 2.016 | 2.238 |
| 11 | Rochester, NY HUD Metro FMR Area | 839 | 950 | 1.186 | 1.443 | 1.593 |
| 12 | Syracuse, NY MSA | 801 | 897 | 1.109 | 1.367 | 1.579 |
| 13 | Utica-Rome, NY MSA | 755 | 759 | 955 | 1.162 | 1.376 |
| 14 | Watertown-Fort Drum, NY MSA | 816 | 928 | 1.221 | 1.650 | 1.951 |
| 15 | Westchester County, NY Statutory Exception Area | 1.436 | 1.669 | 2.029 | 2.515 | 2.782 |
| 16 | Yates County, NY HUD Metro FMR Area | 667 | 757 | 997 | 1.333 | 1.339 |
| Metro | Studio | 1BR | 2BR | 3BR | 4BR |
Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout United States excluding Puerto Rico for calendar year 2023.
Methodology
Areas with insufficient inventory or populations less than 25,000 were excluded from this analysis. Averages are based on the combined average of 0-4 bedroom residential rental properties throughout the United States excluding Puerto Rico.
Data
Rent prices are based on aggregated data from one and/or several sources noted below:
Disclaimer
The information included is used for illustrative purposes only. The data contained herein does not constitute financial, legal, or any material advice. Data is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals before making any material decisions.
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