Monthly Rent Report
Chelsea Rent Report — May 2023
Asking rents in ZIP 10011, New York City, from 572 listings.
Median 1BR rent in Chelsea was $5,397 in May 2023, down 35.8% (−$3,015) from April 2023. The middle half of 1BR listings asked between $4,500 and $6,600. That puts Chelsea $2,920 above the New York City citywide 1BR median of $2,477. The month's figures are based on 572 listings across 18 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. Year Ago | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $3,500 | +$53 (+1.5%) | — | $2,935 – $4,417 | 15 |
| Studio | $3,525 | +$78 (+2.2%) | — | $3,250 – $4,408 | 104 |
| Studio | $4,770 | +$1,323 (+38.4%) | — | $4,665 – $4,875 | 2 |
| 1BR | $5,397 | −$3,015 (-35.8%) | — | $4,500 – $6,600 | 167 |
| 1BR | $6,695 | −$1,717 (-20.4%) | — | $6,695 – $6,695 | 1 |
| 1BR | $5,595 | −$2,817 (-33.5%) | — | $4,490 – $5,944 | 47 |
| 2BR | $8,223 | +$375 (+4.8%) | — | $5,950 – $11,500 | 128 |
| 2BR | $8,250 | +$403 (+5.1%) | — | $6,000 – $9,470 | 25 |
| 2BR | $8,813 | +$965 (+12.3%) | — | $8,385 – $9,030 | 10 |
| 3BR | $7,495 | −$1,602 (-17.6%) | — | $6,098 – $8,325 | 7 |
| 3BR | $12,500 | +$3,403 (+37.4%) | — | $7,624 – $15,000 | 46 |
| 3BR | $9,000 | −$97 (-1.1%) | — | $9,000 – $9,000 | 1 |
| 4BR | $15,900 | +$8,700 (+120.8%) | — | $9,938 – $16,950 | 10 |
| 4BR | $7,200 | $0 (0.0%) | — | $7,200 – $7,200 | 1 |
| 4BR | $13,250 | +$6,050 (+84.0%) | — | $10,875 – $15,625 | 2 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
Chelsea vs. New York City — May 2023
| Bedrooms | Chelsea Median | NYC Citywide Median | Difference |
|---|---|---|---|
| Studio | $3,500 | $2,450 | +$1,050 (+42.9%) |
| Studio | $3,525 | $2,450 | +$1,075 (+43.9%) |
| Studio | $4,770 | $2,450 | +$2,320 (+94.7%) |
| 1BR | $5,397 | $2,477 | +$2,920 (+117.9%) |
| 1BR | $6,695 | $2,477 | +$4,218 (+170.3%) |
| 1BR | $5,595 | $2,477 | +$3,118 (+125.9%) |
| 2BR | $8,223 | $2,800 | +$5,423 (+193.7%) |
| 2BR | $8,250 | $2,800 | +$5,450 (+194.6%) |
| 2BR | $8,813 | $2,800 | +$6,013 (+214.7%) |
| 3BR | $7,495 | $3,225 | +$4,270 (+132.4%) |
| 3BR | $12,500 | $3,225 | +$9,275 (+287.6%) |
| 3BR | $9,000 | $3,225 | +$5,775 (+179.1%) |
| 4BR | $15,900 | $4,000 | +$11,900 (+297.5%) |
| 4BR | $7,200 | $4,000 | +$3,200 (+80.0%) |
| 4BR | $13,250 | $4,000 | +$9,250 (+231.3%) |
Citywide figure is the median of zip-level medians across 174 New York City zip codes with listings in May 2023.