Data is also available below for New York rental vacancy rates, New York rent as a percent of median income and the fraction of renters in New York.

Show dollars as: Nominal Real

**Real Gross Rent in New York New York (2017 dollars) ^{2}**

2017 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US Median Gross Rent | $1,012 | +1.61% | +5.86% |

New York Median Gross Rent | $1,226 | +1.07% | +4.34% |

New York, NY Median Gross Rent | $1,379 | +0.88% | +5.11% |

**New York, NY Real Gross Rent Trends**

At $1,379, real median gross rent in New York was at its highest level in 2017 since the series began in 2005. At $1,428, real average gross rent in New York was at its highest level in 2017 since the series began in 2005.

**Real Gross Rent in New York: New York NY Median, New York NY Average, New York Median, US Median**

**Real Gross Rent History for New York**

Date | US Median |
New York Median |
New York, NY Median |
New York, NY Average |
---|---|---|---|---|

2017 | $1,012 | $1,226 | $1,379 | $1,428 |

2016 | $996 | $1,213 | $1,367 | $1,426 |

2015 | $987 | $1,207 | $1,346 | $1,397 |

2014 | $956 | $1,175 | $1,312 | $1,363 |

2013 | $924 | $1,133 | $1,263 | $1,320 |

2012 | $912 | $1,113 | $1,247 | $1,305 |

2011 | $912 | $1,108 | $1,243 | $1,294 |

2010 | $927 | $1,105 | $1,246 | $1,302 |

2009 | $931 | $1,088 | $1,244 | $1,303 |

2008 | $947 | $1,095 | $1,245 | $1,309 |

2007 | $899 | $1,033 | $1,176 | $1,234 |

2006 | $909 | $1,042 | $1,173 | $1,239 |

**New York Rental Vacancy Rate**

The rental vacancy rate is the fraction of homes for rent that are not occupied.^{3} **In 2017 the rental vacancy rate for New York New York was 3.78%** according to Census ACS data.

**Rental Vacancy Rate in New York New York**

2017 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US | 6.18% | +0.29% | -0.14% |

New York | 4.19% | -0.23% | -0.15% |

New York, NY | 3.78% | -0.16% | -0.46% |

**Trends in New York, NY Rental Vacancy Rate**

The rental vacancy rate in New York peaked in 2010 at 5.35%. Since then it has fallen by 1.57% to 3.78%. Data records for this series originated in 2005.

**Rental Vacancy Rate: New York NY, New York, US**

**Historical Rental Vacancy Rate data for New York**

Date | US | New York | New York, NY |
---|---|---|---|

2017 | 6.18% | 4.19% | 3.78% |

2016 | 5.89% | 4.42% | 3.94% |

2015 | 5.85% | 4.41% | 4.19% |

2014 | 6.32% | 4.34% | 4.24% |

2013 | 6.49% | 4.17% | 4.28% |

2012 | 6.77% | 4.34% | 4.28% |

2011 | 7.40% | 4.48% | 4.91% |

2010 | 8.17% | 5.03% | 5.35% |

2009 | 8.43% | 4.78% | 5.04% |

2008 | 7.86% | 4.68% | 4.78% |

2007 | 7.87% | 4.70% | 4.27% |

2006 | 7.70% | 4.94% | 4.53% |

** Rent as a Fraction of Income**

Using median household income data for New York, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. **For New York, median monthly gross rent as a fraction of median household income was 21.96% in 2017** according to the ACS.

**New York New York Median Annual Rent as a Fraction of Median Household Income**

2017 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US | 20.13% | -0.30% | -0.76% |

New York | 22.67% | -0.10% | -0.73% |

New York, NY | 21.96% | -0.51% | -0.96% |

**Trends in New York, NY Rent as a Fraction of Income**

The fraction of median New York household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 22.92%. Since then it has fallen by 0.96% to 21.96%.

**Fraction of Income towards Rent: New York NY, New York, US**

**Historical Data for Annual Rent as a Fraction of Income in New York New York**

Date | US | New York | New York, NY |
---|---|---|---|

2017 | 20.13% | 22.67% | 21.96% |

2016 | 20.43% | 22.78% | 22.47% |

2015 | 20.63% | 23.13% | 22.83% |

2014 | 20.89% | 23.40% | 22.92% |

2013 | 20.78% | 23.20% | 22.56% |

2012 | 20.65% | 22.94% | 22.68% |

2011 | 20.70% | 22.98% | 22.86% |

2010 | 20.50% | 22.60% | 22.28% |

2009 | 20.12% | 21.60% | 21.47% |

2008 | 19.00% | 20.41% | 20.09% |

2007 | 18.66% | 20.34% | 20.12% |

2006 | 18.90% | 20.43% | 19.94% |

**Renter Fraction in New York New York**

You can calculate the renter fraction in New York in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in New York as a fraction of total New York households. **In 2017 48.17% of households were renters** according to Census ACS data.

**New York Fraction of Renters by Household Units**

2017 | 1 Year Change | 3 Year Change | |
---|---|---|---|

US | 36.13% | -0.75% | -0.77% |

New York | 46.20% | -0.52% | -0.82% |

New York, NY | 48.17% | -0.78% | -1.12% |

**Trends in the New York, NY Renter Fraction**

The New York household renter fraction peaked in in 2014 at 49.29% and is now 1.12% below that level. The origin year for the series is 2005.

**Fraction of Renting Households: New York NY, New York, US**

**History of New York Renter Fraction**

Date | US | New York | New York, NY |
---|---|---|---|

2017 | 36.13% | 46.20% | 48.17% |

2016 | 36.88% | 46.72% | 48.95% |

2015 | 36.97% | 46.93% | 49.17% |

2014 | 36.90% | 47.02% | 49.29% |

2013 | 36.50% | 46.35% | 48.38% |

2012 | 36.09% | 46.35% | 48.64% |

2011 | 35.42% | 46.41% | 48.85% |

2010 | 34.65% | 45.75% | 47.83% |

2009 | 34.13% | 44.97% | 47.29% |

2008 | 33.36% | 44.71% | 46.64% |

2007 | 32.80% | 44.48% | 46.52% |

2006 | 32.73% | 44.40% | 46.20% |

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩

2. Real dollars are calculated using the CPI-U less shelter series. ↩

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩