Monthly Rent Report
SoHo Rent Report — May 2023
Asking rents in ZIP 10012, New York City, from 366 listings.
Median 1BR rent in SoHo was $3,895 in May 2023, down 11.4% (−$500) from April 2023 and down 13.7% year-over-year. The middle half of 1BR listings asked between $3,300 and $4,595. That puts SoHo $1,418 above the New York City citywide 1BR median of $2,477. The month's figures are based on 366 listings across 17 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $4,250 | +$755 (+21.6%) | +$1,850 (+77.1%) | $3,375 – $4,688 | 8 |
| Studio | $3,700 | +$205 (+5.9%) | +$1,300 (+54.2%) | $3,548 – $4,388 | 3 |
| Studio | $3,795 | +$300 (+8.6%) | +$1,395 (+58.1%) | $3,295 – $4,100 | 25 |
| 1BR | $3,895 | −$500 (-11.4%) | −$620 (-13.7%) | $3,300 – $4,595 | 29 |
| 1BR | $4,250 | −$145 (-3.3%) | −$265 (-5.9%) | $3,663 – $4,999 | 148 |
| 1BR | $4,295 | −$100 (-2.3%) | −$220 (-4.9%) | $4,295 – $4,295 | 1 |
| 2BR | $6,400 | −$75 (-1.2%) | +$1,305 (+25.6%) | $5,000 – $10,000 | 98 |
| 2BR | $4,800 | −$1,675 (-25.9%) | −$295 (-5.8%) | $4,800 – $4,800 | 1 |
| 2BR | $6,000 | −$475 (-7.3%) | +$905 (+17.8%) | $4,787 – $7,930 | 17 |
| 3BR | $5,150 | −$1,722 (-25.1%) | −$600 (-10.4%) | $5,150 – $5,150 | 1 |
| 3BR | $6,950 | +$78 (+1.1%) | +$1,200 (+20.9%) | $6,340 – $8,500 | 19 |
| 3BR | $7,050 | +$178 (+2.6%) | +$1,300 (+22.6%) | $6,325 – $7,775 | 2 |
| 4BR | $16,500 | −$1,250 (-7.0%) | +$7,375 (+80.8%) | $10,750 – $19,063 | 10 |
| 4BR | $6,400 | −$11,350 (-63.9%) | −$2,725 (-29.9%) | $6,400 – $6,400 | 1 |
| 4BR | $19,500 | +$1,750 (+9.9%) | +$10,375 (+113.7%) | $19,500 – $19,500 | 1 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
SoHo vs. New York City — May 2023
| Bedrooms | SoHo Median | NYC Citywide Median | Difference |
|---|---|---|---|
| Studio | $4,250 | $2,450 | +$1,800 (+73.5%) |
| Studio | $3,700 | $2,450 | +$1,250 (+51.0%) |
| Studio | $3,795 | $2,450 | +$1,345 (+54.9%) |
| 1BR | $3,895 | $2,477 | +$1,418 (+57.2%) |
| 1BR | $4,250 | $2,477 | +$1,773 (+71.6%) |
| 1BR | $4,295 | $2,477 | +$1,818 (+73.4%) |
| 2BR | $6,400 | $2,800 | +$3,600 (+128.6%) |
| 2BR | $4,800 | $2,800 | +$2,000 (+71.4%) |
| 2BR | $6,000 | $2,800 | +$3,200 (+114.3%) |
| 3BR | $5,150 | $3,225 | +$1,925 (+59.7%) |
| 3BR | $6,950 | $3,225 | +$3,725 (+115.5%) |
| 3BR | $7,050 | $3,225 | +$3,825 (+118.6%) |
| 4BR | $16,500 | $4,000 | +$12,500 (+312.5%) |
| 4BR | $6,400 | $4,000 | +$2,400 (+60.0%) |
| 4BR | $19,500 | $4,000 | +$15,500 (+387.5%) |
Citywide figure is the median of zip-level medians across 174 New York City zip codes with listings in May 2023.