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Average Rent in Manhattan

August 18th, 2010 : The Naked Apartments Team

Curious about the answer to the question, “what is the average rent in Manhattan?” The answer, unfortunately, are those annoying two words, “it depends.” To demonstrate, we’ve compiled numbers from two leading brokerages in NYC.  See for yourself just how much the answer “depends”:

MNS (formerly known as The Real Estate Group of New York or TREGNY) reports the following in their Manhattan Rental Market Report™:

Studio (with doorman): $2,367

One Bedroom (with doorman): $3,428

Two Bedrooms (with doorman): $5,327

Prudential Douglas Elliman, which doesn’t break-out data of doormen versus non doormen units, reports the following in their Manhattan Rental Market Overview:

Studios (doorman & non-doorman): $2,417

One Bedroom (doorman & non-doorman): $3,094

Two Bedrooms (doorman & non-doorman): $5,021

What do these numbers tell us?  They tell us that there is no exact number; different data sets and different ways of calculating will always arrive at different numbers.  But by looking at the above numbers, you can get a good range of answers to the age-old-question, “what is the average rent in Manhattan?”

Not satisfied?  Just want one final answer?  Prudential Douglas Elliman blends all their Manhattan apartments and gives us one number.  According to their report, the overall average in January, February and March of 2010 was:

$3,812


Does that $3,812 number seem about right?  Take a look and check out rents on all the latest Manhattan Apartments at Naked Apartments.


 

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