Oct. 12, 2023 By Ethan Marshall
Zumper released its latest New York City Metro Report, which examines and compares the rental trends for one-bedroom units in several metro cities. According to the report, New York City had the highest median rental price for one-bedroom units last month, at $4,080.
New York City’s median rental price for one-bedroom units of $4,080 is significantly more expensive than the state’s one-bedroom median rent of $2,418. It was also much more expensive than the next highest city, Hoboken, N.J., which had a median rental price of $3,550 for one-bedroom units. The $4,080 represents a year-over-year growth of 3.3% and a month-over-month increase of 2.3%.
When it came to two-bedroom units, the median rental price in New York City was determined to be $4,580. This represents a year-over-year increase of 3.9% and month-over-month rise of 1.8%. The only city with a higher median rent for two-bedroom units was Hoboken, at $4,650.
Zumper’s New York City Metro Area Report was put together by analyzing active listings that hit the market last month. The listings are aggregated by city in order to calculate median asking rents.