Welcome back to my series “How Much Does It Cost to Own”!

Each month, we’ll be looking at different sized apartments to get a sense of what the “median” apartment in either Manhattan or Brooklyn would cost. This series should give you an idea of whether or not you’re in the “ballpark” for the kind of apartment you might want. 

Keep in mind that these figures represent the median for all building types. So coops, condos, walkups, elevators, doorman and non-doorman, amenities, low amenities, new development – they’re all looped in together. 

So let’s turn our attention this month to 2 bedrooms! 

Two bedrooms are essentially the “bread and butter” of the sales market in NYC and are the most in demand properties. But they also have some of the widest variations in pricing due to differences in bathroom counts and square footage. 

So for that reason, this edition has four rather than two infographics. But keep in mind that 2 bed/2 bath stats can be heavily skewed by luxury apartments and new developments. So don’t be too discouraged by the pricing for those! You can always contact me for more details on specific areas and property types. And at the end of this blog post you’ll find a form where you can request a custom “Rent versus Buy” report just for you. 

Let’s get into the numbers. 

Now let’s get a visual on how median price and total monthly costs have shifted over time.

What’s Behind the Numbers? 

Thanks to lower interest rates, the cost of ownership is down across the board in both boroughs. 

In Manhattan, median asking prices for 2 bed/1 bath apartments have stayed the same. But prices for 2 bed/2 bath apartments have actually increased since the last report. Average monthlies, however, are hovering around the same range. So that combined with lower rates brought costs down by $174 for 2 bed/1 baths and $88 per month for 2 bed/2 baths compared to the prior period. 

Brooklyn buyers have quite a bit more to celebrate in terms of improved affordability. Along with interest rates, median asking prices and average monthly carrying costs are down for both 2 bed/1 bath and 2 bed/2 bath apartments throughout the borough. As a result, buyers are enjoying much more savings than their Manhattan counterparts. How much? It’s to the tune of $386 for 1 bathroom apartments and a whopping $743 for 2 bathroom apartments. 

Rent vs Buy

In terms of the rent versus buy equation, buying makes more sense if you’re on the hunt for a 2 bed/1 bath apartment, since the current median rent for a 2 bedroom in the borough is $7,444. You’ll save yourself more than $1200 per month if you can find something in the area that you want. 

But renting comes out the clear winner for those seeking 2 bed/2 bathroom apartments, with renting being $5,567 cheaper per month. It’s worth noting that this gap has narrowed since July 2025 by almost $400 thanks to a combination of lower interest rates and rising rental prices in Manhattan. But that’s still a pretty huge gap. 

In Brooklyn, owning is the best financial move for 2 bed/1 bathroom apartments, since the current median rent for a 2 bedroom is $5,036. So potential buyers could save themselves more than $1300 per month. 

But like Manhattan, renting easily beats out owning if you’re looking for that second bathroom. It’ll cost you an extra $2,074 per month if you want to be a home owner. But this gap has considerably narrowed since my last report. The difference between owning and renting is $558 less compared to then.