Monthly Rent Report
Chelsea Rent Report — May 2024
Asking rents in ZIP 10001, New York City, from 1,140 listings.
Median 1BR rent in Chelsea was $5,335 in May 2024, down 4.1% (−$230) from April 2024 and down 5.3% year-over-year. The middle half of 1BR listings asked between $4,795 and $5,868. That puts Chelsea $2,910 above the New York City citywide 1BR median of $2,425. The month's figures are based on 1,140 listings across 17 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2024 | Vs. May 2023 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $4,245 | −$2 (-0.1%) | +$80 (+1.9%) | $3,979 – $4,459 | 307 |
| Studio | $4,437 | +$189 (+4.4%) | +$272 (+6.5%) | $4,106 – $4,805 | 78 |
| Studio | $4,495 | +$248 (+5.8%) | +$330 (+7.9%) | $4,495 – $4,495 | 1 |
| 1BR | $5,335 | −$230 (-4.1%) | −$297 (-5.3%) | $4,795 – $5,868 | 321 |
| 1BR | $5,123 | −$442 (-8.0%) | −$509 (-9.0%) | $5,045 – $5,286 | 4 |
| 1BR | $5,735 | +$170 (+3.1%) | +$103 (+1.8%) | $5,431 – $6,261 | 128 |
| 2BR | $6,795 | −$1,455 (-17.6%) | −$1,085 (-13.8%) | $6,795 – $6,795 | 1 |
| 2BR | $8,590 | +$340 (+4.1%) | +$710 (+9.0%) | $6,995 – $9,145 | 41 |
| 2BR | $7,990 | −$260 (-3.2%) | +$110 (+1.4%) | $6,969 – $8,551 | 213 |
| 3BR | $14,397 | +$3,397 (+30.9%) | +$2,400 (+20.0%) | $13,000 – $17,500 | 16 |
| 3BR | $15,000 | +$4,000 (+36.4%) | +$3,003 (+25.0%) | $15,000 – $15,000 | 1 |
| 3BR | $10,500 | −$500 (-4.5%) | −$1,497 (-12.5%) | $8,598 – $16,500 | 11 |
| 4BR | $8,495 | −$8,005 (-48.5%) | −$502 (-5.6%) | $7,848 – $12,498 | 3 |
| 4BR | $8,850 | −$7,650 (-46.4%) | −$147 (-1.6%) | $8,025 – $9,675 | 2 |
| 4BR | $8,495 | −$8,005 (-48.5%) | −$502 (-5.6%) | $7,200 – $10,500 | 5 |
Median, P25, and P75 are asking rents from listings posted in May 2024. Changes compare against the nearest prior month with data.
Chelsea vs. New York City — May 2024
| Bedrooms | Chelsea Median | NYC Citywide Median | Difference |
|---|---|---|---|
| Studio | $4,245 | $2,350 | +$1,895 (+80.6%) |
| Studio | $4,437 | $2,350 | +$2,087 (+88.8%) |
| Studio | $4,495 | $2,350 | +$2,145 (+91.3%) |
| 1BR | $5,335 | $2,425 | +$2,910 (+120.0%) |
| 1BR | $5,123 | $2,425 | +$2,698 (+111.2%) |
| 1BR | $5,735 | $2,425 | +$3,310 (+136.5%) |
| 2BR | $6,795 | $2,914 | +$3,882 (+133.2%) |
| 2BR | $8,590 | $2,914 | +$5,677 (+194.8%) |
| 2BR | $7,990 | $2,914 | +$5,077 (+174.2%) |
| 3BR | $14,397 | $3,600 | +$10,797 (+299.9%) |
| 3BR | $15,000 | $3,600 | +$11,400 (+316.7%) |
| 3BR | $10,500 | $3,600 | +$6,900 (+191.7%) |
| 4BR | $8,495 | $4,250 | +$4,245 (+99.9%) |
| 4BR | $8,850 | $4,250 | +$4,600 (+108.2%) |
| 4BR | $8,495 | $4,250 | +$4,245 (+99.9%) |
Citywide figure is the median of zip-level medians across 176 New York City zip codes with listings in May 2024.