What budget for monthly rent in New York, by neighbourhood

In August 2026, the median asking rent for an apartment in New York reached $4,200 per month according to StreetEasy, the highest level the portal has recorded since 2010. The gap between boroughs remains wide: $4,995 in Manhattan, $3,995 in Brooklyn and $3,450 in Queens. The increase is slowing (2.8% over one year, against 7.5% a year earlier), but rents are not falling.

Your budget therefore depends first on the borough, then on the size of the home. This guide details rents by type of apartment and by neighbourhood, the costs to plan for at move-in and the rules that have changed for tenants since 2025.

Rents by type of home

Across the whole city, the monthly benchmarks are as follows:

• Studio: around $3,260 on average.
• One bedroom (one-bedroom): around $4,030 on average. In Brooklyn, the median rent for a one-bedroom hit a record $4,357 in August 2026, up 8% over one year, according to the Corcoran report cited by Brick Underground.
• Two bedrooms (two-bedroom): $4,800 median asking rent in August 2026, up 6.7% over one year according to StreetEasy.
• Three bedrooms and more: from about $7,000.

Larger homes are rising fastest. StreetEasy explains this by the shortage: compared with August 2019, the supply of two-bedrooms has fallen by 30%, against 21.4% for one-bedrooms and 16.5% for studios. If you are coming with your family, this is where competition will be toughest.

Rents by borough and neighbourhood

Manhattan

Manhattan remains the most expensive and most contested borough. According to Jonathan Miller's report for The Real Deal, picked up by Brick Underground, the median rent there was $4,900 in August 2026, up 6.5% over one year, after a record $5,000 in July. The number of listings fell by 45.3% in a year and the vacancy rate dropped to 1.51%, its lowest level since 2019. The Upper West Side, family-friendly and close to Central Park, is around $5,850 for a one-bedroom. SoHo, Tribeca and the Upper East Side are among the most expensive neighbourhoods. In the north of the island, Washington Heights is among the most affordable areas of Manhattan.

Brooklyn

Brooklyn's median rent rose to $4,000 in August 2026 according to Corcoran, and listings fell by 33.9% over one year. Park Slope, family-friendly and next to Prospect Park, is around $3,950. Williamsburg attracts a young crowd and remains expensive for Brooklyn; Bushwick is among the most affordable neighbourhoods in the borough.

Queens and the Bronx

Queens is the cheapest of the three major markets tracked by StreetEasy, with a median rent of $3,450. Astoria and Long Island City offer a good balance between price and subway access. The Bronx also has lower rents than Manhattan, at the cost of often longer commutes to offices in the centre.