New York City continued to rank as the second most expensive rental market in the nation this month. The price of one bedroom units increased a slight 0.3% to a median of $2,940, while two bedroom units grew 2% to $3,490. Despite a slight uptick in rent this month, both one and two bedroom units are down over 12% since this time last year. 
Although Tribeca, Greenwich Village, and Financial District were the most expensive neighborhoods to rent this spring, Soho ($3,700), West Village ($3,650), and Battery Park City ($3,600) were other notably pricy areas as well. On the other end of the cost spectrum, Washington Heights ($1,775) and Central Harlem ($2,300) were the most affordable neighborhoods to rent.
West Harlem and Central Harlem had the fastest growing rents, both up around 6% since last quarter.
If you’re interested in how New York City rent prices compare with the rest of the nation’s, view our National Rent Report for April.
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