Monthly Rent Report
Chelsea Rent Report — August 2023
Asking rents in ZIP 10011, New York City, from 667 listings.
Median 1BR rent in Chelsea was $5,385 in August 2023, down 6.3% (−$359) from July 2023 and down 0.5% year-over-year. The middle half of 1BR listings asked between $5,320 and $5,612. That puts Chelsea $3,035 above the New York City citywide 1BR median of $2,350. The month's figures are based on 667 listings across 18 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. July 2023 | Vs. August 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $3,850 | −$342 (-8.2%) | $0 (0.0%) | $3,400 – $4,400 | 146 |
| Studio | $2,925 | −$1,267 (-30.2%) | −$925 (-24.0%) | $2,734 – $3,337 | 6 |
| Studio | $4,187 | −$5 (-0.1%) | +$337 (+8.8%) | $4,184 – $4,193 | 3 |
| 1BR | $5,385 | −$359 (-6.3%) | −$25 (-0.5%) | $5,320 – $5,612 | 10 |
| 1BR | $5,465 | −$279 (-4.9%) | +$55 (+1.0%) | $4,500 – $6,300 | 216 |
| 1BR | $5,250 | −$494 (-8.6%) | −$160 (-3.0%) | $4,000 – $5,767 | 29 |
| 2BR | $7,846 | +$611 (+8.4%) | −$55 (-0.7%) | $5,948 – $9,998 | 167 |
| 2BR | $9,279 | +$2,044 (+28.2%) | +$1,378 (+17.4%) | $5,707 – $11,379 | 6 |
| 2BR | $7,519 | +$284 (+3.9%) | −$382 (-4.8%) | $7,519 – $7,519 | 1 |
| 3BR | $19,995 | +$14,600 (+270.6%) | +$10,900 (+119.8%) | $19,995 – $19,995 | 1 |
| 3BR | $12,500 | +$7,105 (+131.7%) | +$3,405 (+37.4%) | $7,495 – $15,375 | 59 |
| 3BR | $7,495 | +$2,100 (+38.9%) | −$1,600 (-17.6%) | $7,495 – $7,495 | 1 |
| 4BR | $10,500 | −$500 (-4.5%) | −$6,000 (-36.4%) | $10,500 – $10,500 | 1 |
| 4BR | $18,000 | +$7,000 (+63.6%) | +$1,500 (+9.1%) | $11,500 – $18,400 | 13 |
| 4BR | $11,000 | $0 (0.0%) | −$5,500 (-33.3%) | $10,750 – $12,975 | 3 |
Median, P25, and P75 are asking rents from listings posted in August 2023. Changes compare against the nearest prior month with data.
Chelsea vs. New York City — August 2023
| Bedrooms | Chelsea Median | NYC Citywide Median | Difference |
|---|---|---|---|
| Studio | $3,850 | $2,490 | +$1,360 (+54.6%) |
| Studio | $2,925 | $2,490 | +$435 (+17.4%) |
| Studio | $4,187 | $2,490 | +$1,697 (+68.2%) |
| 1BR | $5,385 | $2,350 | +$3,035 (+129.1%) |
| 1BR | $5,465 | $2,350 | +$3,115 (+132.6%) |
| 1BR | $5,250 | $2,350 | +$2,900 (+123.4%) |
| 2BR | $7,846 | $2,859 | +$4,987 (+174.4%) |
| 2BR | $9,279 | $2,859 | +$6,420 (+224.6%) |
| 2BR | $7,519 | $2,859 | +$4,660 (+163.0%) |
| 3BR | $19,995 | $3,413 | +$16,583 (+485.9%) |
| 3BR | $12,500 | $3,413 | +$9,088 (+266.3%) |
| 3BR | $7,495 | $3,413 | +$4,083 (+119.6%) |
| 4BR | $10,500 | $4,200 | +$6,300 (+150.0%) |
| 4BR | $18,000 | $4,200 | +$13,800 (+328.6%) |
| 4BR | $11,000 | $4,200 | +$6,800 (+161.9%) |
Citywide figure is the median of zip-level medians across 175 New York City zip codes with listings in August 2023.