Monthly Rent Report
Midtown Rent Report — May 2023
Asking rents in ZIP 10018, New York City, from 202 listings.
Median 1BR rent in Midtown was $3,395 in May 2023, down 34.4% (−$1,780) from April 2023 and down 32.9% year-over-year. The middle half of 1BR listings asked between $2,948 and $3,822. That puts Midtown $918 above the New York City citywide 1BR median of $2,477. The month's figures are based on 202 listings across 13 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $3,767 | +$5 (+0.1%) | −$382 (-9.2%) | $3,767 – $3,767 | 1 |
| Studio | $3,673 | −$89 (-2.4%) | −$476 (-11.5%) | $3,283 – $4,193 | 49 |
| 1BR | $3,395 | −$1,780 (-34.4%) | −$1,666 (-32.9%) | $2,948 – $3,822 | 3 |
| 1BR | $5,295 | +$120 (+2.3%) | +$234 (+4.6%) | $5,028 – $5,563 | 2 |
| 1BR | $5,121 | −$54 (-1.0%) | +$60 (+1.2%) | $4,434 – $6,387 | 65 |
| 2BR | $7,528 | +$3,355 (+80.4%) | +$1,357 (+22.0%) | $5,964 – $8,559 | 54 |
| 2BR | $8,288 | +$4,116 (+98.6%) | +$2,117 (+34.3%) | $8,288 – $8,288 | 1 |
| 3BR | $7,500 | $0 (0.0%) | +$2,750 (+57.9%) | $7,098 – $10,250 | 7 |
| 3BR | $7,500 | $0 (0.0%) | +$2,750 (+57.9%) | $6,145 – $10,250 | 15 |
| 4BR | $7,000 | −$500 (-6.7%) | −$995 (-12.5%) | $6,999 – $7,000 | 2 |
| 4BR | $7,000 | −$500 (-6.7%) | −$995 (-12.4%) | $7,000 – $7,000 | 1 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
Midtown vs. New York City — May 2023
| Bedrooms | Midtown Median | NYC Citywide Median | Difference |
|---|---|---|---|
| Studio | $3,767 | $2,450 | +$1,317 (+53.8%) |
| Studio | $3,673 | $2,450 | +$1,223 (+49.9%) |
| 1BR | $3,395 | $2,477 | +$918 (+37.0%) |
| 1BR | $5,295 | $2,477 | +$2,818 (+113.7%) |
| 1BR | $5,121 | $2,477 | +$2,644 (+106.7%) |
| 2BR | $7,528 | $2,800 | +$4,728 (+168.8%) |
| 2BR | $8,288 | $2,800 | +$5,488 (+196.0%) |
| 3BR | $7,500 | $3,225 | +$4,275 (+132.6%) |
| 3BR | $7,500 | $3,225 | +$4,275 (+132.6%) |
| 4BR | $7,000 | $4,000 | +$3,000 (+75.0%) |
| 4BR | $7,000 | $4,000 | +$3,000 (+75.0%) |
Citywide figure is the median of zip-level medians across 174 New York City zip codes with listings in May 2023.