View Apartments On-site or Virtually! Contactless access and Appointment-based Open House Now Available. See Listings Virtually with: Video Tours and 3D Walk-throughs.

MANHATTAN YEAR END REPORT

Manhattan year end infographics

MANHATTAN YEAR END REPORT ARCHIVE

TABLE OF CONTENTS

JUMP TO A PARTICULAR SECTION

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

introduction

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

manhattan

MNS is proud to present our thirteenth 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.

Year-over-year, the average rental price in Manhattan for a non-doorman studio increased by 1.20%, while non-doorman one and two-bedroom pricing was up 1.82% and 1.61%, respectively. Doorman studio and one-bedroom are up 4.92% and 4.49%, while doorman two-bedroom pricing improved 3.90%.

This year, some of the most pronounced growth within the doorman rental market in Manhattan took place in the Lower East Side, where studio, one, and two-bedroom pricing increased by 3.64%, 5.54%, and 19.04%, respectively. Not far behind was the East Village, where studio, one, and two-bedroom pricing increased by 6.09%, 6.30%, and 12.80%, respectively.

When compared to the doorman market, non-doorman growth was subdued. On average, non-doorman units saw their by-neighborhood average rental prices increase by less than 200 basis points.

MEAN RENTAL PRICES

2019 MEAN MANHATTAN RENTAL PRICES

  • $2,598
    Non-doorman

    Studios

  • $3,278
    Non-doorman

    One bedrooms

  • $4,289
    Non-doorman

    Two bedrooms

  • $3,249
    Doorman

    Studios

  • $4,460
    Doorman

    One bedrooms

  • $6,332
    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
-
$3,386
$3,322
$3,437
$3,330
Greenwich Village
Harlem
Lower East Side
Midtown East
Midtown West
$3,427
$3,220
$3,289
$3,291
$3,280
Murray Hill
SoHo
Tribeca
Upper East Side
Upper West Side
$3,303
$3,453
$3,704
$3,275
$3,327

DOORMAN Average prices over the year

Battery Park City
Chelsea
East Village
Finacial District
Gramercy
$4,792
$5,095
$4,783
$4,342
$4,596
Greenwich Village
Harlem
Lower East Side
Midtown East
Midtown West
$5,362
$3,210
$4,699
$4,322
$4,284
Murray Hill
SoHo
Tribeca
Upper East Side
Upper West Side
$4,179
$6,356
$5,358
$4,507
$4,405

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_2019

thank you