MANHATTAN YEAR END REPORT
MANHATTAN YEAR END REPORT ARCHIVE
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introduction
WE ARE PROUD TO PRESENT MNS’ FIFTEENTH ANNUAL YEAR END REPORT

MNS is proud to present our fifteenth 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 decreased by 6.29%, one-bedrooms decreased by 5.11% and two-bedrooms by 4.16%. Doorman studio average rents are down 0.88%, while one-bedroom and two-bedroom rents are up by 0.75% and 2.16%, respectively. Overall, the average non-doorman rent from 2021 is down by 5.00% when compared to the whole of 2021, while doorman rents are up 1.02%.
It is important to note that these averages are for the entire calendar year, of which the effects of 2021’s shutdown from Covid-19 are averaged out amongst the period preceding the shutdown. As such, the proceeding page breaks out the 2nd half of the year to capture the true effects and trends of the market pre and post pandemic.
NOTABLE TRENDS

Growth & Borough Trends
Looking at the entire years average, the Chelsea and Financial District doorman rental markets saw their average rents increase the most. Chelsea doorman studios are up by 7.49%, one-bedrooms up by 6.36% and two-bedrooms up by 5.46%. In the Financial District, doorman studios are up 3.20%, one-bedrooms are up 5.43% and two-bedrooms are up 9.77%.
NON-DOORMAN MANHATTAN RENTS: 2020 VS. 2021
TYPE | 2020 | 2021 | CHANGE |
---|---|---|---|
Studios | $2,364 | $2,215 | 6.29% |
One bedrooms | $3,105 | $2,946 | 5.11% |
Two bedrooms | $4,028 | $3,860 | 4.16% |
DOORMAN MANHATTAN RENTS: 2020 VS. 2021
TYPE | 2020 | 2021 | CHANGE |
---|---|---|---|
Studios | $3,032 | $3,005 | 0.88% |
One bedrooms | $4,198 | $4,229 | 0.75% |
Two bedrooms | $6,025 | $6,155 | 2.16% |
COVID-19 SNAPSHOT, 6 MONTH ANALYSIS
IN ORDER TO BETTER ILLUSTRATE THE IMPACT OF COVID-19 ON THE MANHATTAN RENTAL MARKET, WE HAVE COMPILED AND ANALYZED DATA FROM THE SECOND HALVES OF OUR 2020 AND 2021 MONTHLY RENTAL MARKET REPORTS.

When compared to last year, the average rental price in Manhattan for a non-doorman studio unit increased by 5.92%, one-bedrooms increased by 9.53% and two-bedrooms by 11.37%. Looking at the doorman market, studios increased by 15.41%, one-bedrooms by 16.87% and two-bedrooms by 13.44%. Overall, the non-doorman market increased by an average of 9.41%, with the doorman market increasing by an average of 14.96%, illustrating a healthy bounce back from the decreases we saw in 2020.
Looking on the neighborhood level, the hardest hit areas of 2020 saw the greatest comeback, such as the doorman supply in Financial District whose rents decreased by 16.7% (studios), 15.9% (1-beds) and 10.3% (2-beds) in the July-December period of 2020 and this past year increased by 3.33% (studios), 10.76% (1-beds) and 15.06% (2-beds).
NON-DOORMAN MANHATTAN RENTS: JUL-DEC 2020 VS. JUL-DEC 2021
TYPE | JUL-DEC 2020 | JUL-DEC 2021 | CHANGE |
---|---|---|---|
Studios | $2,214 | $2,345 | 5.92% |
One bedrooms | $2,894 | $3,170 | 9.53% |
Two bedrooms | $3,747 | $4,174 | 11.37% |
DOORMAN MANHATTAN RENTS: JUL-DEC 2020 VS. JUL-DEC 2021
TYPE | JUL-DEC 2020 | JUL-DEC 2021 | CHANGE |
---|---|---|---|
Studios | $2,832 | $3,269 | 15.41% |
One bedrooms | $3,941 | $4,606 | 16.87% |
Two bedrooms | $5,746 | $6,519 | 13.44% |
MEAN RENTAL PRICES
2021 MEAN MANHATTAN RENTAL PRICES
-
$2,210Non-doorman
Studios
-
$2,946Non-doorman
One bedrooms
-
$3,860Non-doorman
Two bedrooms
-
$3,005Doorman
Studios
-
$4,229Doorman
One bedrooms
-
$6,155Doorman
Two bedrooms



MANHATTAN PRICE TRENDS

BATTERY PARK CITY - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 2.0% | N/A |
One bedrooms | 2.8% | N/A |
Two bedrooms | 5.2% | N/A |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
3.7% | N/A |
3.8% | N/A |
5.2% | N/A |
CHELSEA - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 7.5% | 6.1% |
One bedrooms | 6.4% | 4.0% |
Two bedrooms | 5.5% | 0.7% |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
8.5% | 4.5% |
5.0% | 4.8% |
1.6% | 1.9% |
EAST VILLAGE - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 4.7% | 2.7% |
One bedrooms | 3.2% | 2.9% |
Two bedrooms | 6.8% | 2.8% |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
0.9% | 2.4% |
3.4% | 3.0% |
8.1% | 0.3% |
FINANCIAL DISTRICT - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 3.2% | 9.6% |
One bedrooms | 5.4% | 9.6% |
Two bedrooms | 9.8% | 6.7% |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
3.3% | 2.8% |
10.8% | 12.1% |
15.1% | 5.2% |
GRAMERCY PARK - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 2.1% | 7.8% |
One bedrooms | 3.4% | 10.6% |
Two bedrooms | 0.1% | 9.4% |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
4.0% | 8.6% |
5.6% | 6.6% |
2.7% | 4.7% |
GREENWICH VILLAGE - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 5.1% | 5.3% |
One bedrooms | 2.0% | 1.5% |
Two bedrooms | 3.9% | 3.5% |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
5.3% | 0.5% |
2.0% | 2.2% |
8.1% | 6.4% |
HARLEM - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 13.1% | 4.5% |
One bedrooms | 6.1% | 8.5% |
Two bedrooms | 10.9% | 8.8% |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
12.6% | 5.4% |
7.9% | 9.2% |
14.7% | 10.6% |
LOWER EAST SIDE - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 0.0% | 9.0% |
One bedrooms | 5.7% | 6.3% |
Two bedrooms | 6.3% | 4.8% |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
0.9% | 1.3% |
7.0% | 2.2% |
2.6% | 3.9% |
MIDTOWN EAST - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 7.2% | 6.2% |
One bedrooms | 2.1% | 3.4% |
Two bedrooms | 3.7% | 4.5% |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
8.5% | 8.0% |
3.0% | 4.5% |
0.2% | 7.4% |
MIDTOWN WEST - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 0.9% | 7.3% |
One bedrooms | 2.8% | 6.9% |
Two bedrooms | 5.8% | 5.7% |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
1.6% | 10.5% |
3.0% | 9.5% |
8.1% | 3.8% |
MURRAY HILL - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 1.6% | 5.9% |
One bedrooms | 2.5% | 9.0% |
Two bedrooms | 5.2% | 0.4% |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
0.6% | 3.0% |
3.2% | 8.2% |
6.4% | 1.8% |
SOHO - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 2.5% | 10.8% |
One bedrooms | 6.0% | 20.7% |
Two bedrooms | 5.4% | 6.4% |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
8.4% | 6.9% |
8.3% | 21.6% |
11.3% | 20.5% |
TRIBECA - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 7.1% | 3.1% |
One bedrooms | 2.6% | 11.3% |
Two bedrooms | 1.7% | 1.6% |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
3.5% | 8.2% |
3.9% | 10.5% |
10.7% | 2.0% |
UPPER EAST SIDE - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 4.1% | 6.4% |
One bedrooms | 2.7% | 8.3% |
Two bedrooms | 2.9% | 6.0% |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
2.3% | 4.5% |
4.5% | 6.8% |
4.9% | 4.2% |
UPPER WEST SIDE - Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE | DOORMAN | NON-DOORMAN |
---|---|---|
Studios | 0.02% | 6.4% |
One bedrooms | 4.4% | 3.6% |
Two bedrooms | 3.7% | 7.3% |
COVID-19 Snapshot
Price changes of 2nd half 2021**
**This figure represents the percentage change in the total average pricing from July-December 2020 to July-December 2021 for each unit type.
DOORMAN | NON-DOORMAN |
---|---|
0.02% | 7.9% |
6.2% | 5.7% |
4.7% | 7.3% |
MANHATTAN PRICE TRENDS

NON-DOORMAN Average prices over the year
DOORMAN Average prices over the year
MANHATTAN PRICE TRENDS

NON-DOORMAN Average prices from the 2nd half of 2021
DOORMAN Average prices from the 2nd half of 2021
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.
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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.
