Over the past year, New York City has dethroned San Francisco to become the most expensive city to rent in the country. While some Manhattan neighborhoods cost over $ 5,000 per month for one-bedroom units, the more affordable areas had rents under $ 2,000. To illustrate this, we’ve revamped our neighborhood heatmaps with a new gradient design. We also had to adjust the legend on this map from our old version, as rents in some areas of Manhattan were above our previous high, showing just how much demand there is in this rental market right now.
The most expensive neighborhoods
Chelsea Chelsea, always in fashion, was the most expensive area to rent, with a room priced at $ 5,120. For renters who don’t mind the opulent price tag, they can live a short walk from the famous Chelsea Market, stroll the High Line, and visit one of the many art galleries present.
Tribeca As the only neighborhood other than Chelsea to have a bedroom rent over $ 5,000, Tribeca offers beautiful cobblestone streets, chic boutiques for unique fashion pieces, and popular restaurants.
Bowery With rents likely driven by new buildings and being surrounded by highly desirable areas such as Nolita, East Village, and the Lower East Side, Bowery had a one bedroom rent priced at $ 4,890.
The most affordable neighborhoods
Inwood At the north end of Manhattan, Inwood was the most affordable neighborhood with a room priced at $ 1,735 (that’s over $ 3,000 less than Chelsea, the most expensive neighborhood!).
Washington Heights Inspired by a hit Broadway musical and home to a bustling Latin American populace, Washington Heights was the only other neighborhood in Manhattan besides Inwood to have a room rent of less than $ 2,000.
East Harlem With a more reasonably priced one bedroom rent of $ 2,355, East Harlem is known for its vibrant Latin, Caribbean, and African-American presence and features colorful street art and a huge range of local restaurants.