Here’s a quick snapshot of the NYC rental market for December 2025, with a focus on Manhattan and Brooklyn. You can view stats from the previous month here. 

Note that the areas for “best deals” are determined by a combination of vacancy rates and/or areas with price declines (or lowest price increases, in the event of a rising market) across the most categories of apartment types. Keep in mind that “best deals” doesn’t necessarily mean “cheapest.” It just means places where you’re more likely to have some bargaining power and/or more options.  

Summary

The market stats for Manhattan really did not look great for either landlords or renters in December 2025.

Signed leases were down by more than 20% compared to November. And while we do tend to see seasonal declines, that was still quite a tumble by historic standards. Additionally, signed leases also declined compared to last year, marking one of the slowest Decembers we’ve seen in 4 years. 

The reason for the deflated market? Rents and inventory. 

While rents were down compared to November, they were up 7% compared to last year. And inventory was likewise not looking so great – down both year over year and month over month. Again, we expect seasonal declines, but it’s the year over year decline that really highlights how sluggish things were. 

Things looked decidedly better in Brooklyn than they did in Manhattan. Signed leases declined in line with seasonality. But they had a solid jump of 16% compared to last year this time, indicating more strength in the market.

That’s not too surprising when we take a look at prices and inventory. Prices were up, but just barely both year over year and month over month. 

And the reason was likely both the time of year and inventory. Inventory was up a healthy 9% compared to last December. So that plus more moderated prices likely buoyed renters’ feelings about their rental prospects, thus leading to more lease signings. 

What’s Next?

I think we can expect to see more of the same. Things could potentially become less bad in Manhattan IF demand falls off. Fewer renters looking for places could mean more moderation in prices and more lingering inventory. But I’m hesitant to predict that demand will be more muted because the market is kinda wonky. In Brooklyn, assuming inventory doesn’t take a surprising dip, I think we’ll continue to see a solid performance in the borough when it comes to lease signings, at least by seasonal standards. 

What to Expect as a Renter

As I mentioned before, renters should expect more of the same. Things are likely to continue to be tough in Manhattan, but may be slightly less frenzied if fewer folks are looking. Brooklyn is still going to be competitive, but renters may feel like they actually have options to consider. 

As always, preparation is a must. Here’s a video reminder of what you need in order to put your best foot forward  – NYC Apartment Hunting Tips – The Key to Getting An Application in FAST. 

To get the full NYC Rental Market Update for December 2025, 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!