# Manhattan Rent Prices 2026: What to Charge for Your Apartment

By Charles Botensten, Botensten Properties International · Approved 2026-10-21 · Published 2026-10-20 · Updated 2026-10-21
Canonical: https://ctbre.com/journal/frbo/rent-prices-what-charge-for-apartment/
Topic: Renting by owner · Manhattan

The median asking rent in Manhattan is $4,995 a month, up 6.1% from a year earlier, according to StreetEasy's data dashboard. By size, studios ask a median $3,784, one-bedrooms $4,870, two-bedrooms $6,067 and three-bedrooms or larger $8,246. Treat those figures as a starting line, then adjust for your own apartment's size, block and condition.

The table below shows current median rents, one- and two-bedroom rents, rental listings and price cuts for each of the 12 neighborhoods CTBRE covers.

| Neighborhood | Median rent | One-bedroom rent | Two-bedroom rent | Rentals listed | Rentals with a cut |
|---|---|---|---|---|---|
| Chelsea | $6,179 | $6,279 | $8,748 | 734 | 21% |
| Gramercy | $5,497 | $5,498 | $6,082 | 238 | 15% |
| Upper East Side | $4,498 | $4,117 | $5,782 | 1,841 | 17% |
| Upper West Side | $5,030 | $4,781 | $6,930 | 1,860 | 21% |
| Financial District | $5,015 | $5,503 | $7,436 | 885 | 22% |
| Tribeca | $9,297 | $7,023 | $10,013 | 261 | 16% |
| East Village | $5,035 | $4,033 | $5,635 | 997 | 16% |
| West Village | $6,197 | $5,748 | $7,390 | 544 | 19% |
| Greenwich Village | $6,000 | $5,898 | $7,098 | 291 | 16% |
| Midtown East | $5,019 | $5,013 | $6,728 | 1,808 | 25% |
| Midtown West | $4,997 | $5,037 | $6,675 | 1,356 | 18% |
| Flatiron | $6,530 | $6,473 | $9,719 | 303 | 33% |
| **Manhattan** | $4,995 | $4,870 | $6,067 | 15,130 | 19% |

_StreetEasy Data Dashboard, three-month average through September 2026._

## What are Manhattan apartments renting for right now?

Asking rents rose for every unit size over the past year, according to StreetEasy's data dashboard. One-bedrooms rose 8.2% to a median $4,870 and two-bedrooms rose 7.7% to $6,067. Studios gained 5.1% to $3,784, and three-bedrooms or larger rose 4.3% to $8,246.

Fewer apartments are competing for tenants. Manhattan had 15,130 rentals listed, down 10.7% from a year earlier, according to StreetEasy's data dashboard. Even so, 19% of rentals had a cut in asking rent.

At the Manhattan median, a 12-month lease brings in $59,940 a year, based on a calculation from StreetEasy's data dashboard figures.

Rising medians are no reason to stretch. Launch at a number you can defend with current comparables, so the first weeks of showings aren't wasted.

## How much does my neighborhood change the rent I can charge?

Among the 12 neighborhoods CTBRE covers, Tribeca has the highest median asking rent at $9,297 and the Upper East Side the lowest at $4,498, according to StreetEasy's data dashboard. Flatiron ($6,530), the West Village ($6,197), Chelsea ($6,179) and Greenwich Village ($6,000) all have median rents of $6,000 or more.

Several others sit close to the Manhattan median of $4,995: the Upper West Side at $5,030, the East Village at $5,035, Midtown East at $5,019, the Financial District at $5,015 and Midtown West at $4,997.

By unit size, a one-bedroom has a median asking rent of $6,473 in Flatiron and $6,279 in Chelsea, compared with $4,033 in the East Village and $4,117 on the Upper East Side. Two-bedrooms ask $10,013 in Tribeca and $9,719 in Flatiron, against $5,635 in the East Village.

Price cuts differ by neighborhood, too. In Flatiron, 33% of rentals had a cut in asking rent, and in Midtown East 25% did, while Gramercy stood at 15%, according to StreetEasy's data dashboard.

Find your neighborhood and apartment size in the table, then check that figure against active listings in your own building and on nearby blocks before you settle on an asking rent.

## How do I rent out my apartment by owner in Manhattan?

Renting by owner means handling pricing, marketing, screening and the lease yourself. Work through these steps in order:

1. **Check your building's rules first.** Read your proprietary lease or condo bylaws and house rules on subletting, and ask the managing agent what the board requires before you set a move-in date.
2. **Pick a number from the data.** Start with the median for your apartment size in the table above, then compare it with current listings in your building and nearby.
3. **Prepare the apartment.** Finish repairs, clean thoroughly and take clear, well-lit photos before the listing goes live.
4. **Keep fees and deposits within the law.** A New York landlord may charge a rental applicant no more than $20 for a background and credit check. A security deposit may not exceed one month's rent.
5. **Treat every lawful income source the same.** The NYC Human Rights Law bars landlords from refusing a renter because of a lawful source of income, such as a housing voucher.
6. **Plan for stays of 30 days or more.** Under NYC Local Law 18, short-term rentals under 30 days require city registration, the host must live in the unit and be present, and no more than two guests are allowed.
7. **Put it in writing.** Use a written New York lease and have a real estate attorney review it, especially the first time you rent out the apartment.

## Who pays the broker fee if I rent by owner?

Under NYC's FARE Act, in effect since June 11, 2025, the party who hires a broker pays that broker's fee. A landlord's listing agent cannot charge the tenant.

If you rent by owner with no broker involved, there's no broker fee to assign. If you hire a broker to list the apartment, that fee is yours.

A New York real estate broker must be licensed by the Department of State. Licensees must give landlords and tenants the state agency-disclosure and fair-housing disclosure forms. Confirm how these rules apply to your lease with a real estate attorney.

## What income should a tenant have to rent my apartment?

If you screen at 40 times the monthly rent, a tenant at the Manhattan median rent would need income of $199,800, and a guarantor at 80 times would need $399,600, based on calculations from StreetEasy's data dashboard figures. At the median one-bedroom rent, 40 times works out to $194,813; at the median two-bedroom rent, it's $242,667.

Set your income and credit standards before the listing goes live, write them down and apply them to every applicant the same way. Ask a real estate attorney to review your application form and criteria, and talk to an accountant about how rental income affects your taxes.

## How Charles Botensten can help

Charles Botensten, a licensed real estate broker and owner of Botensten Properties International, has closed 128 rentals and 42 sales across New York City since 2014 on the firm's own listings, according to StreetEasy. Request a rental pricing check through ctbre.com: Charles will compare your apartment with current asking rents in your neighborhood and building and tell you where he'd price it.

## More questions

### Who pays the broker fee if I rent by owner?

Under NYC's FARE Act, the party who hires a broker pays that broker's fee, and a landlord's listing agent cannot charge the tenant. If no broker is involved, there's no broker fee. Confirm the details for your lease with a real estate attorney.

### How do I screen tenants in New York City?

A New York landlord may charge a rental applicant no more than $20 for a background and credit check. The NYC Human Rights Law bars refusing a renter because of a lawful source of income, such as a housing voucher. Apply the same written criteria to every applicant and have a real estate attorney review them.

### Can I rent out my Manhattan apartment short term instead?

Under NYC Local Law 18, short-term rentals under 30 days require city registration, the host must live in the unit and be present, and no more than two guests are allowed. Renting out a whole apartment you don't live in therefore calls for stays of 30 days or more. Check the details with a real estate attorney before listing.

## Sources

- StreetEasy Data Dashboard (three-month average through 2026-09): https://streeteasy.com/blog/data-dashboard/
- NYC Department of Finance rolling sales (through 2026-09-30): https://data.cityofnewyork.us/d/usep-8jbt
- The NYC Human Rights Law bars landlords, owners and real estate brokers from refusing a renter because of a lawful source of income such as a housing voucher; small owner-occupied buildings and units not publicly advertised are exceptions. https://www.nyc.gov/site/cchr/media/source-of-income.page
- No one may act as a real estate broker or salesperson in New York without a license (Real Property Law §440-a). In residential sales and rentals, licensees must give sellers, buyers, landlords and tenants the agency disclosure form (§443) and the Department of State’s Fair Housing and Anti-Discrimination Disclosure (19 NYCRR §175.28) at first substantive contact. https://dos.ny.gov/system/files/documents/2021/08/fair-housing-guidance-for-re-lic-holders.pdf
- A New York landlord may charge a rental applicant no more than the actual cost of a background and credit check or $20, whichever is less, and must waive it if the applicant provides a check from the past 30 days (Real Property Law §238-a). Co-ops screening a would-be shareholder may charge actual cost above $20. https://www.nysenate.gov/legislation/laws/RPP/238-A
- A residential security deposit in New York may not exceed one month’s rent (General Obligations Law §7-108), with limited exceptions such as seasonal rentals and owner-occupied co-op units. https://www.nysenate.gov/legislation/laws/GOB/7-108
- NYC’s FARE Act took effect June 11, 2025. Landlords may not pass the fees of brokers they hire on to tenants, and no one may require a tenant to hire a broker to rent an apartment; tenants who choose to hire their own broker pay that broker. Landlords must disclose all tenant-paid fees in writing. https://www.nyc.gov/assets/dca/downloads/pdf/about/FAQ-Broker-Fees.pdf
- NYC Local Law 18 created a registration system for short-term rentals: an entire apartment or home may not be rented for fewer than 30 days, a short-term rental is allowed only when the host lives in the same unit with the guests, and there is a limit of two guests (not counting children under 4). https://www.nyc.gov/site/specialenforcement/hosting-STRs/what-is-local-law-18.page
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