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 nondoorman studio decreased by 6.29%, onebedrooms decreased by 5.11% and twobedrooms by 4.16%. Doorman studio average rents are down 0.88%, while onebedroom and twobedroom rents are up by 0.75% and 2.16%, respectively. Overall, the average nondoorman 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 Covid19 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%, onebedrooms up by 6.36% and twobedrooms up by 5.46%. In the Financial District, doorman studios are up 3.20%, onebedrooms are up 5.43% and twobedrooms are up 9.77%.
NONDOORMAN 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% 
COVID19 SNAPSHOT, 6 MONTH ANALYSIS
IN ORDER TO BETTER ILLUSTRATE THE IMPACT OF COVID19 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 nondoorman studio unit increased by 5.92%, onebedrooms increased by 9.53% and twobedrooms by 11.37%. Looking at the doorman market, studios increased by 15.41%, onebedrooms by 16.87% and twobedrooms by 13.44%. Overall, the nondoorman 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% (1beds) and 10.3% (2beds) in the JulyDecember period of 2020 and this past year increased by 3.33% (studios), 10.76% (1beds) and 15.06% (2beds).
NONDOORMAN MANHATTAN RENTS: JULDEC 2020 VS. JULDEC 2021
TYPE  JULDEC 2020  JULDEC 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: JULDEC 2020 VS. JULDEC 2021
TYPE  JULDEC 2020  JULDEC 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

$2,210Nondoorman
Studios

$2,946Nondoorman
One bedrooms

$3,860Nondoorman
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  NONDOORMAN 

Studios  2.0%  N/A 
One bedrooms  2.8%  N/A 
Two bedrooms  5.2%  N/A 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

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  NONDOORMAN 

Studios  7.5%  6.1% 
One bedrooms  6.4%  4.0% 
Two bedrooms  5.5%  0.7% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

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  NONDOORMAN 

Studios  4.7%  2.7% 
One bedrooms  3.2%  2.9% 
Two bedrooms  6.8%  2.8% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

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  NONDOORMAN 

Studios  3.2%  9.6% 
One bedrooms  5.4%  9.6% 
Two bedrooms  9.8%  6.7% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

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  NONDOORMAN 

Studios  2.1%  7.8% 
One bedrooms  3.4%  10.6% 
Two bedrooms  0.1%  9.4% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

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  NONDOORMAN 

Studios  5.1%  5.3% 
One bedrooms  2.0%  1.5% 
Two bedrooms  3.9%  3.5% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

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  NONDOORMAN 

Studios  13.1%  4.5% 
One bedrooms  6.1%  8.5% 
Two bedrooms  10.9%  8.8% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

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  NONDOORMAN 

Studios  0.0%  9.0% 
One bedrooms  5.7%  6.3% 
Two bedrooms  6.3%  4.8% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

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  NONDOORMAN 

Studios  7.2%  6.2% 
One bedrooms  2.1%  3.4% 
Two bedrooms  3.7%  4.5% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

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  NONDOORMAN 

Studios  0.9%  7.3% 
One bedrooms  2.8%  6.9% 
Two bedrooms  5.8%  5.7% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

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  NONDOORMAN 

Studios  1.6%  5.9% 
One bedrooms  2.5%  9.0% 
Two bedrooms  5.2%  0.4% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

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  NONDOORMAN 

Studios  2.5%  10.8% 
One bedrooms  6.0%  20.7% 
Two bedrooms  5.4%  6.4% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

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  NONDOORMAN 

Studios  7.1%  3.1% 
One bedrooms  2.6%  11.3% 
Two bedrooms  1.7%  1.6% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

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  NONDOORMAN 

Studios  4.1%  6.4% 
One bedrooms  2.7%  8.3% 
Two bedrooms  2.9%  6.0% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

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  NONDOORMAN 

Studios  0.02%  6.4% 
One bedrooms  4.4%  3.6% 
Two bedrooms  3.7%  7.3% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
DOORMAN  NONDOORMAN 

0.02%  7.9% 
6.2%  5.7% 
4.7%  7.3% 
MANHATTAN PRICE TRENDS
NONDOORMAN Average prices over the year
DOORMAN Average prices over the year
MANHATTAN PRICE TRENDS
NONDOORMAN 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 crosssectioned from over 10,000 currently available listings priced under $10,000, with ultraluxury property omitted to obtain a true monthly rental average. Our data is aggregated from the MNS proprietary database and sampled from a specific midmonth 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.