New York City Rent Hits Record High as Renters Face a Squeeze From Both Sides
Realtor.com's Q3 2026 NYC Rental Report shows the city's median asking rent hit a record $3,785, up 4.5% year over year and 27.5% above pre-pandemic levels. Rents rose across all four reported boroughs, led by Manhattan at 8.3%, while buying a median-priced home costs $6,952 more per month than renting and mortgage rates above 7% push the buying cost to roughly $11,008 monthly.
Key figures
- Rent yoy
- 4.5%
- Bronx median rent
- $3,233 (+2.7% YoY)
- Queens median rent
- $3,744 (+3.9% YoY)
- Buying monthly cost
- $10,737
- Rent vs prepandemic
- 27.5% above pre-pandemic level ($816)
- Brooklyn median rent
- $4,197 (+4.9% YoY)
- Median listing price
- $1,409,792
- Manhattan median rent
- $5,375 (+8.3% YoY)
- Median asking rent nyc
- $3,785
- Mortgage rate 30yr avg
- 6.68%
- Buy vs rent monthly gap
- $6,952
- Buying monthly cost at 7pct
- $11,008
AI analysis
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AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.