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How much it costs to rent in 28 Manhattan neighborhoods, ranked from the least expensive to the most

May 20, 2018, 18:15 IST

Cocozero/Shutterstock

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  • The cost of living in Manhattan is more than double the US average.
  • The NYC cost of living is so high partly due to its exorbitant housing market - the average rent for a Manhattan apartment is $3,667.
  • RENTCafé broke down the average rent for different Manhattan neighborhoods, and we ranked them from most to least affordable, from SoHo to the East Village.

City life comes with a lot of dollar signs - especially in Manhattan.

The cost of living in New York City is at least 68% higher than the US average, according to SmartAsset. If you think that's a lot, the cost of living in Manhattan specifically is more than double the national average.

At the center of it all is New York City's high-cost housing market. Asking rents in New York City increased by 33% from December 2009 to June 2017 at roughly 3.9% a year, reports StreetEasy.

And while the NYC rental market has seen declining prices this year, the average rent for an apartment in Manhattan remains exorbitant at $3,667 - a 10% decrease compared to $4,085 the previous year. To put things in perspective, that's only a few hundred dollars shy of the typical US worker's average monthly income of $3,895.

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That number is even more shocking considering that the average size for a Manhattan apartment is only 703 square feet.

Even then, some neighborhoods in Manhattan are notoriously more expensive than others. Rent in Battery Park City, for example, is 52% higher than the Manhattan average.

Shayanne Gal

To highlight such differences, RENTCafé broke down the average rent in Manhattan neighborhoods for all rentals, one-bedroom apartments, and two-bedroom apartments. Using this data, we narrowed down the top 28 Manhattan neighborhoods according to the largest number of rental units overall (in apartment communities of 50 units or larger), which was provided by Yardi Matrix.

Scroll through below to see which Manhattan neighborhoods have the highest average rent, ranked from the least expensive to the most, from SoHo to the Upper East Side.

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28. Washington Heights

All rentals: $2,176

One-bedroom: $1,980

Two-bedroom: $2,777

Number of rental units: 1,000–1,500

27. Roosevelt Island

All rentals: $3,379

One-bedroom: $3,211

Two-bedroom: $3,558

Number of rental units: 1,200–2,000

26. East Harlem

All rentals: $3,412

One-bedroom: $3,258

Two-bedroom: $3,471

Number of rental units: 1,700–2,500

25. Tudor City

All rentals: $3,287

One-bedroom: $3,501

Two-bedroom: $5,067

Number of rental units: 1,200–1,800

24. Theatre District — Times Square

All rentals: $3,839

One-bedroom: $3,634

Two-bedroom: $5,645

Number of rental units: 1,900–2,600

23. Clinton-Hell's Kitchen

All rentals: $3,877

One-bedroom: $3,648

Two-bedroom: $5,674

Number of rental units: 8,400–10,000

22. Murray Hill

All rentals: $3,918

One-bedroom: $3,664

Two-bedroom: $5,528

Number of rental units: 4,000–5,100

21. Turtle Bay

All rentals: $3,948

One-bedroom: $3,706

Two-bedroom: $5,617

Number of rental units: 1,500–2,300

20. Kips Bay

All rentals: $3,951

One-bedroom: $3,740

Two-bedroom: $5,072

Number of rental units: 5,000–6,300

19. East Village

All rentals: $4,003

One-bedroom: $4,055

Two-bedroom: $6,042

Number of rental units: 1,000–1,500

18. NoMad

All rentals: $4,005

One-bedroom: $3,838

Two-bedroom: $5,275

Number of rental units: 1,800–2,500

17. Gramercy Park

All rentals: $4,005

One-bedroom: $4,112

Two-bedroom: $4,739

Number of rental units: 1,500–2,500

16. Flatiron District

All rentals: $4,050

One-bedroom: $4,122

Two-bedroom: $4,945

Number of rental units: 1,100–1,700

15. Greenwich Village

All rentals: $4,076

One-bedroom: $4,137

Two-bedroom: $6,376

Number of rental units: 1,000–1,600

14. Garment District

All rentals: $4,128

One-bedroom: $3,978

Two-bedroom: $6,079

Number of rental units: 1,000–1,700

13. Financial District

All rentals: $4,128

One-bedroom: $4,131

Two-bedroom: $5,640

Number of rental units: 3,500–5,000

(TIE) 11. Yorkville

All rentals: $4,145

One-bedroom: $3,416

Two-bedroom: $5,702

Number of rental units: 4,500–6,000

(TIE) 11. Carnegie Hill

All rentals: $4,145

One-bedroom: $3,416

Two-bedroom: $5,702

Number of rental units: 1,500–2,000

10. Chelsea

All rentals: $4,173

One-bedroom: $4,162

Two-bedroom: $6,290

Number of rental units: 6,000–8,000

9. Hudson Yards

All rentals: $4,176

One-bedroom: $4,170

Two-bedroom: $6,365

Number of rental units: 1,200–1,800

8. Lenox Hill

All rentals: $4,250

One-bedroom: $4,068

Two-bedroom: $6,055

Number of rental units: 4,000–5,300

7. Civic Center

All rentals: $4,419

One-bedroom: $4,232

Two-bedroom: $6,305

Number of rental units: 1,800–3,000

6. Lincoln Square

All rentals: $4,644

One-bedroom: $4,018

Two-bedroom: $6,675

Number of rental units: 4,500–6,200

5. Upper West Side

All rentals: $4,697

One-bedroom: $3,976

Two-bedroom: $5,882

Number of rental units: 4,500–6,000

4. Manhattan Valley

All rentals: $4,707

One-bedroom: $3,367

Two-bedroom: $5,219

Number of rental units: 1,200–1,800

3. SoHo

All rentals: $5,287

One-bedroom: $4,097

Two-bedroom: $9,838

Number of rental units: 1,500–2,500

2. Battery Park City

All rentals: $5,575

One-bedroom: $4,305

Two-bedroom: $6,600

Number of rental units: 1,000–1,600

1.Little Italy

All rentals: $6,013

One-bedroom: $4,389

Two-bedroom: $9,838

Number of rental units: 1,000–1,500

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