Gramercy renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in the purple and dark green areas.
Rental Price Key
Luxury
High-end
Mid-tier
Most affordable
On average, the cost of rent in Gramercy is about $2,766 per month. This puts it in the 96th percentile compared to the city average cost of rent, which is $1,818. Households in Gramercy have a median income of $10,075 per month so the average renter in Gramercy is spending roughly 27% of their earnings on housing.
Nationally, and in Gramercy, home values are the data point most closely correlated with the cost of rent. The median price of a home in Gramercy is $1,042,899 right now, which is lower than neighborhoods nearby, meaning that rents in Gramercy also tend to be lower versus these nearby neighborhoods.
Higher rent prices are common in the western parts of Gramercy while lower rent rates are often available in central areas.
Nearby Neighborhoods
- Murray Hill, New York, NY: more expensive rent prices
- East Village, New York, NY: less expensive rent prices
- Greenwich Village, New York, NY: less expensive rent prices
- Garment District, New York, NY: more expensive rent prices
- Chelsea, New York, NY: less expensive rent prices
- West Village, New York, NY: less expensive rent prices
- Little Italy, New York, NY: less expensive rent prices
- Soho, New York, NY: less expensive rent prices
- Midtown, New York, NY: less expensive rent prices
- Lower East Side, New York, NY: less expensive rent prices
Neighborhoods with Similar Populations
- Cobbs Creek, Philadelphia, PA: less expensive rent prices
- West, Arlington, TX: less expensive rent prices
- Sylmar, Los Angeles, CA: less expensive rent prices
- East End, Houston, TX: less expensive rent prices
- White Haven-Coro Lake, Memphis, TN: less expensive rent prices
- Utopia, Jamaica, NY: less expensive rent prices
- Downtown San Jose, San Jose, CA: less expensive rent prices
- Hollywood, Los Angeles, CA: less expensive rent prices
- Evergreen, San Jose, CA: less expensive rent prices
- Canoga Park, Los Angeles, CA: less expensive rent prices
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