Rent in New York
The median 2-bedroom Fair Market Rent in New York is $1,573/mo, ranking #18 out of 51 states for highest rent. This is $323 above the national median of $1,250/mo. New York has a population of 19.9M. About 45.7% of households rent their homes. Fair Market Rent data covers 14 areas across the state.
Highlights
All 14 Areas in New York
| Area | Studio | 1BR | 2BR | 3BR | Burden | YoY |
|---|---|---|---|---|---|---|
| New York Pop. 19.8M | $2,529 | $2,655 | $2,910 | $3,644 | 35.9% | +5.7% |
| Nassau-Suffolk Pop. 19.8M | $1,992 | $2,379 | $2,747 | $3,563 | 33.9% | +9.5% |
| Kiryas Joel-Poughkeepsie-Newburgh Pop. 701K | $1,364 | $1,549 | $1,979 | $2,511 | 24.5% | - |
| Kingston Pop. 182K | $1,303 | $1,386 | $1,818 | $2,245 | 26.7% | +6.8% |
| Ithaca Pop. 103K | $1,263 | $1,466 | $1,753 | $2,102 | 28.8% | +5.3% |
| Albany-Schenectady-Troy Pop. 902K | $1,217 | $1,417 | $1,702 | $2,041 | 23.7% | +23.9% |
| Rochester Pop. 1.1M | $1,116 | $1,256 | $1,573 | $1,895 | 25.4% | +20.4% |
| Watertown-Fort Drum Pop. 116K | $969 | $1,071 | $1,405 | $1,907 | 25.9% | +3.3% |
| Syracuse Pop. 657K | $995 | $1,123 | $1,392 | $1,691 | 22.7% | +23.6% |
| Glens Falls Pop. 126K | $1,041 | $1,066 | $1,348 | $1,742 | 21.6% | +5% |
| Buffalo-Cheektowaga Pop. 1.2M | $1,105 | $1,139 | $1,343 | $1,640 | 22.8% | - |
| Elmira Pop. 83K | $949 | $978 | $1,283 | $1,606 | 24.3% | +6.2% |
| Utica-Rome Pop. 290K | $899 | $926 | $1,172 | $1,405 | 20.4% | +18.1% |
| Binghamton Pop. 246K | $783 | $868 | $1,103 | $1,412 | 20.9% | -3.3% |
Frequently Asked Questions
The median 2-bedroom Fair Market Rent across New York is $1,573 per month. Rents range from $1,103/mo in Binghamton to $2,910/mo in New York. The actual median gross rent statewide is $1,576/mo according to Census data.
New York ranks #18 out of 51 states for highest median Fair Market Rent. The state median 2BR FMR of $1,573/mo is $323 above the national median of $1,250/mo.
The average rent burden across New York is 25.5%, meaning a typical household would spend 25.5% of income on a 2-bedroom at Fair Market Rent. 2 of 14 areas exceed HUD's 30% cost-burden threshold. The statewide median household income is $84,578.
The most affordable area in New York is Binghamton with a 2-bedroom Fair Market Rent of $1,103/mo. The median household income there is $63,347.
The most expensive area in New York is New York with a 2-bedroom Fair Market Rent of $2,910/mo. The median household income there is $97,334.
Fair Market Rents represent the 40th percentile of gross rents for standard-quality rental units. State-level income and demographic data comes from the Census Bureau ACS 5-Year estimates. Rent burden is calculated as annual 2BR FMR divided by area median household income.