Monthly Rent Report
Chelsea Rent Report — May 2024
Asking rents in ZIP 10011, New York City, from 1,083 listings.
Median 1BR rent in Chelsea was $6,310 in May 2024, up 17.9% (+$956) from April 2024 and up 12.8% year-over-year. The middle half of 1BR listings asked between $6,255 and $6,365. That puts Chelsea $3,885 above the New York City citywide 1BR median of $2,425. The month's figures are based on 1,083 listings across 17 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2024 | Vs. May 2023 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $4,923 | +$1,073 (+27.9%) | +$153 (+3.2%) | $4,886 – $4,959 | 2 |
| Studio | $4,095 | +$245 (+6.4%) | −$675 (-14.2%) | $3,295 – $4,760 | 149 |
| Studio | $3,913 | +$63 (+1.6%) | −$857 (-18.0%) | $3,600 – $4,938 | 62 |
| 1BR | $6,310 | +$956 (+17.9%) | +$715 (+12.8%) | $6,255 – $6,365 | 2 |
| 1BR | $5,500 | +$146 (+2.7%) | −$95 (-1.7%) | $4,524 – $6,495 | 110 |
| 1BR | $5,562 | +$208 (+3.9%) | −$33 (-0.6%) | $5,117 – $6,186 | 537 |
| 2BR | $8,271 | +$3,426 (+70.7%) | −$541 (-6.1%) | $6,000 – $8,429 | 113 |
| 2BR | $6,800 | +$1,955 (+40.4%) | −$2,012 (-22.8%) | $5,200 – $10,500 | 53 |
| 2BR | $9,680 | +$4,835 (+99.8%) | +$868 (+9.8%) | $9,680 – $9,680 | 1 |
| 3BR | $15,950 | +$6,205 (+63.7%) | +$6,950 (+77.2%) | $15,950 – $15,950 | 2 |
| 3BR | $16,973 | +$7,228 (+74.2%) | +$7,973 (+88.6%) | $16,950 – $16,995 | 6 |
| 3BR | $7,395 | −$2,350 (-24.1%) | −$1,605 (-17.8%) | $6,923 – $14,000 | 31 |
| 4BR | $19,500 | +$10,000 (+105.3%) | +$3,600 (+22.6%) | $19,500 – $19,500 | 1 |
| 4BR | $14,500 | +$5,000 (+52.6%) | −$1,400 (-8.8%) | $8,848 – $16,500 | 8 |
| 4BR | $8,745 | −$755 (-7.9%) | −$7,155 (-45.0%) | $8,620 – $8,870 | 2 |
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 | $4,923 | $2,350 | +$2,573 (+109.5%) |
| Studio | $4,095 | $2,350 | +$1,745 (+74.3%) |
| Studio | $3,913 | $2,350 | +$1,563 (+66.5%) |
| 1BR | $6,310 | $2,425 | +$3,885 (+160.2%) |
| 1BR | $5,500 | $2,425 | +$3,075 (+126.8%) |
| 1BR | $5,562 | $2,425 | +$3,137 (+129.4%) |
| 2BR | $8,271 | $2,914 | +$5,358 (+183.9%) |
| 2BR | $6,800 | $2,914 | +$3,887 (+133.4%) |
| 2BR | $9,680 | $2,914 | +$6,767 (+232.2%) |
| 3BR | $15,950 | $3,600 | +$12,350 (+343.1%) |
| 3BR | $16,973 | $3,600 | +$13,373 (+371.5%) |
| 3BR | $7,395 | $3,600 | +$3,795 (+105.4%) |
| 4BR | $19,500 | $4,250 | +$15,250 (+358.8%) |
| 4BR | $14,500 | $4,250 | +$10,250 (+241.2%) |
| 4BR | $8,745 | $4,250 | +$4,495 (+105.8%) |
Citywide figure is the median of zip-level medians across 176 New York City zip codes with listings in May 2024.