Here’s a quick snapshot of the NYC rental market for April 2026, with a focus on Manhattan and Brooklyn. You can view stats from the previous month here. 

I’ve switched things up a bit in the infographic going forward. Instead of a section discussing the “best deals” (which I decided was simply too subjective), the last section focuses on inventory levels. This metric can help renters better determine how challenging the market is and also to what extent the situation is improving (or not improving). 

Summary

This was another month of really strong rental activity for Manhattan. 

Signed leases were up by 12% compared to last year and they were up by a whopping 21% compared to the prior month. 

So this means renters were still in search of new places despite increasing prices, which were up both year over year and month over month once again. But at least this time around the increases were modest. But still, at over $5,000 per month, rents are still at staggering historically high prices right now. 

The solid leasing activity was reflected in active listings which plunged compared to the prior year and declined month over month as listings got snapped up faster than new supply could keep up. This is actually one of the lowest levels of inventory that we’ve seen in six years. So if it feels like the Manhattan market is even worse for renters than it was in 2021 and 2022, that’s not your imagination. It IS worse. 

Brooklyn was a tough market for renters here as well, but renters had just a bit more leeway there. 

Like Manhattan, leasing activity was very strong in April. Signed leases were well above what we saw last year this time and they increased by double digits compared to March. 

Asking rents were still pretty high, but they took just the smallest breather in April. They increased modestly compared to the prior year and ticked down just the tiniest bit compared to March. 

And as far as inventory, there was good news for Brooklyn renters. Even though there were fewer listings on the market compared to last year this time, we saw a substantial increase of 16% compared to March. 

What’s Next?

I don’t really see the inventory situation getting better in Manhattan. But we’re entering the time of year when demand starts to increase even more. So I wouldn’t be surprised if we saw a higher level of leasing activity in May on a year over year basis. But the market can only bear so much in terms of price increases. So while it wouldn’t be out of the question to see it push just a bit higher – especially if more luxury rentals happen – I can definitely see the price growth stalling out a bit as renters take a beat. In Brooklyn, we’re still seeing new development inventory come onto the market, especially in Gowanus and Fort Greene. So that’s likely to help moderate prices just a bit. But I think we’re still going to see some high leasing activity. We’ll see if my thoughts pan out once we have May’s numbers. 

What to Expect as a Renter

Competition will continue to heat up as summer nears and more leases come up for renewal. Lots of renters are likely to choose to stay put in order to avoid the tougher market. But there’s still likely to be more people on the hunt compared to prior months. So renters in both boroughs should expect a very tough market. But Brooklyn renters, once again, may have a slightly easier time of it because they’ll probably have more to choose from if current trends hold. 

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 April 2026, 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!