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MANHATTAN YEAR END REPORT

Manhattan year end infographics

MANHATTAN YEAR END REPORT ARCHIVE

TABLE OF CONTENTS

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  1. Intro
  2. Notable Trends
  3. Mean Rental Prices
  4. Manhattan Price Trends
  5. The Report Explained

introduction

WE ARE PROUD TO PRESENT MNS’ SEVENTEENTH ANNUAL YEAR END REPORT

manhattan

MNS is proud to present our seventeenth annual Manhattan Year End Report, a summation of the data collected from our monthly Manhattan Rental Market Reports. We hope you find this report useful in determining the rental trends in Manhattan’s major neighborhoods, as well as the overall climate of the Manhattan rental market.

When compared to last year, the average rental price in Manhattan for a non-doorman studio unit increased by 7.90%, one-bedrooms increased by 2.27%, and two-bedrooms increased by 2.57%. Looking at the doorman market, studios increased by 3.14%, one-bedrooms increased by 1.60%, and two-bedrooms increased by 3.59%.

Overall, the average non-doorman rents from 2023 is up by 3.80% when compared to 2022. Average doorman rents also increased by 2.84% compared to the previous year.

MEAN RENTAL PRICES

2023 MEAN MANHATTAN RENTAL PRICES

  • $2,937
    Non-doorman

    Studios

  • $3,702
    Non-doorman

    One bedrooms

  • $4,766
    Non-doorman

    Two bedrooms

  • $3,822
    Doorman

    Studios

  • $5,215
    Doorman

    One bedrooms

  • $7,388
    Doorman

    Two bedrooms

manhattan mean studio
manhattan mean 1 bedroom
manhattan mean 2 bedrooms

MANHATTAN PRICE TRENDS

price changes

NON-DOORMAN Average prices over the year

Battery Park City
Chelsea
East Village
Finacial District
Gramercy
-
$3,896
$3,818
$3,924
$3,856
Greenwich Village
Harlem
Lower East Side
Midtown East
Midtown West
$3,953
$3,688
$3,783
$3,781
$3,767
Murray Hill
SoHo
Tribeca
Upper East Side
Upper West Side
$3,811
$3,895
$4,250
$3,759
$3,799

DOORMAN Average prices over the year

Battery Park City
Chelsea
East Village
Finacial District
Gramercy
$5,519
$6,097
$5,716
$5,327
$5,341
Greenwich Village
Harlem
Lower East Side
Midtown East
Midtown West
$6,275
$3,728
$5,651
$4,950
$4,945
Murray Hill
SoHo
Tribeca
Upper East Side
Upper West Side
$4,799
$7,615
$6,291
$5,070
$5,137

THE REPORT EXPLAINED

THE MANHATTAN RENTAL MARKET REPORT IS THE ONLY REPORT THAT COMPARES FLUCTUATION IN THE CITY’S RENTAL DATA ON A MONTHLY BASIS. IT IS AN ESSENTIAL TOOL FOR POTENTIAL RENTERS SEEKING TRANSPARENCY IN THE NYC APARTMENT MARKET AND A BENCHMARK FOR LANDLORDS TO EFFICIENTLY AND FAIRLY ADJUST INDIVIDUAL PROPERTY RENTS IN MANHATTAN.

The Manhattan Rental Market Report is based on data cross-sectioned from over 10,000 currently available listings priced under $10,000, with ultra-luxury property omitted to obtain a true monthly rental average. Our data is aggregated from the MNS proprietary database and sampled from a specific mid-month point to record current rental rates offered by landlords during that particular month. It is then combined with information from the REBNY Real Estate Listings Source (RLS), OnLine Residential (OLR. com) and R.O.L.E.X. (Real Plus).

Author MNS has been helping Manhattan landlords and renters navigate the rental market since 1999. From large companies to individuals, MNS tailors services to meet your needs. Contact us today to see how we can help.

Contact Us Now at 718-222-0211

Note All market data is collected and compiled by MNS’ marketing department. The information presented here is intended for instructive purposes only and has been gathered from sources deemed reliable, though it may be subject to errors, omissions, changes or withdrawal without notice. If you would like to republish this report on the web, please be sure to source it as the “Manhattan Rental Market Report” with a link back to its original location.

HTTP://WWW.MNS.COM/MANHATTAN_YEAR_END_MARKET_REPORT_2023

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