NYC Average Rent Climbs to Nearly 150% Above National Rate as May Begins
By the end of April 2025, the average monthly rent in New York City rose to \$3,966—approximately 144% higher than the national average of \$1,625, according to a report from Apartments.com.
To live comfortably in New York City, residents would need to earn approximately \$13,206 per month, or \$158,472 annually. This income level ensures that no more than 30% of monthly earnings are spent on rent, aligning with common affordability guidelines.
As of early May 2025, the average rent in New York City reached $3,966, marking a 1.9% increase from $3,889 a year earlier. The same study also reported that the average apartment size in the city was 599 square feet.
All ten of New York City’s most expensive neighborhoods are located in Manhattan. Among these, seven have average apartment sizes that exceed the citywide average.
Lincoln Square tops the list as the most expensive neighborhood, with an average monthly rent of $7,248. It is followed by the West Village at $6,438 and the Lower West Side at $6,359. Other high-rent areas include Hell’s Kitchen ($6,314), Greenwich Village ($6,240), Chelsea ($6,217), Midtown West ($5,999), Gramercy Park ($5,964), the Upper West Side ($5,925), and Midtown South ($5,891).
