New York 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 New York is about $1,589 per month. This puts it in the 85th percentile compared to the nation average cost of rent, which is $1,385. Households in New York have a median income of $6,610 per month so the average renter in New York is spending roughly 24% of their earnings on housing.
Nationally, and in New York, home values are the data point most closely correlated with the cost of rent. The median price of a home in New York is $607,570 right now, which is higher than states nearby, meaning that rents in New York also tend to be higher versus these nearby states.
Higher rent prices are common in the southeastern parts of New York while lower rent rates are often available in western areas.
Nearby States
- Connecticut: less expensive rent prices
- New Jersey: more expensive rent prices
- Pennsylvania: less expensive rent prices
- Vermont: less expensive rent prices
- Massachusetts: more expensive rent prices
- Rhode Island: less expensive rent prices
- New Hampshire: less expensive rent prices
- Delaware: less expensive rent prices
- Maryland: more expensive rent prices
- District of Columbia: more expensive rent prices
States with Similar Populations
- Florida: less expensive rent prices
- Illinois: less expensive rent prices
- Pennsylvania: less expensive rent prices
- Texas: less expensive rent prices
- Ohio: less expensive rent prices
- Georgia: less expensive rent prices
- North Carolina: less expensive rent prices
- Michigan: less expensive rent prices
- New Jersey: more expensive rent prices
- Virginia: more expensive rent prices
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