NYC Rental Market Update January 2021

Here’s a quick snapshot of the rental market in Manhattan and Brooklyn for January 2021.

Note that the areas for “best deals” are determined by a combination of vacancy rates and areas with price declines across the most categories of apartment types.

Summary of rental market statistics for Manhattan and Brooklyn for the month of January 2021

Once again, Brooklyn studios are quite a bit ahead of Manhattan prices. But as stated in my last update, this is likely due to more leases for studios being signed in high end doorman buildings.

In fact, the difference in median price between Manhattan and Brooklyn actually grew to $400 – a difference of $100 from the previous month.

Deals still abound in both boroughs, but the best “bargains” are likely to be found in Manhattan, which continues to have much higher year over year inventory. So if you’ve been eager for your chance to live in Manhattan, this is a great year to finally go for it and lock in a great 1 or 2 year lease.

To view the full rental snapshot, click here

And if you’re thinking about getting a new rental in NYC, then check out my Renter Resources page and get my FREE guide to renting in NYC when you join my email list! 



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