NYC Remains the Most Expensive Rental Market

RentHop's latest report confirms New York City's dominance as the priciest rental market in the US in 2024. For the second year running, a staggering 39 NYC zip codes made it into the top 100 most expensive list, with 30 in Manhattan, 8 in Brooklyn, and 1 in Queens.

Manhattan's Top Spots

Two Manhattan zip codes cracked the top ten:

• 10007 (Tribeca): Median rent of $6,080 for a one-bedroom and $9,070 for a two-bedroom.
• 10282 (Battery Park City): Median rent of $6,000 for a one-bedroom and $8,800 for a two-bedroom.

Both saw their rankings climb from last year.

Queens and Brooklyn's High Costs

In Queens, 11109 (Hunters Point, Long Island City) made the top 100, with median monthly rents of $4,180 (one-bedroom) and $6,157 (two-bedroom), reflecting the area's waterfront location and proximity to Manhattan.

Brooklyn's presence in the top 100 was largely concentrated in desirable neighborhoods like Williamsburg, Greenpoint, and Boerum Hill, driven by new developments and renovated townhouses.

Statewide Dominance

New York State's overall dominance is striking, accounting for almost half (44 out of 100) of the most expensive zip codes. California came in second, a significant distance behind, with only 28 zip codes.

<img src="https://qns.com/wp-content/uploads/2024/11/nyc-most-expensive-rental-zip-codes-2024.png" alt="Chart showing the most expensive rental zip codes in the US in 2024">