NYC Rental Market Report: October 2026
NYC rents kept rising in October 2026, but renters gained options outside Manhattan. The average listed rent was $6,576 in Manhattan, up 4% from a year ago, $4,667 in Brooklyn, up 1%, and $4,184 in Queens, up 5%, according to the Compass Rental Market Report for October 2026. Rental listings jumped 18% in Brooklyn and 32% in Queens, while Manhattan's supply held flat.
- Manhattan one-bedroom$5,269
- Manhattan two-bedroom$7,631
- Brooklyn listings vs. last year+18%
- Queens listings vs. last year+32%
01
How much is rent in NYC right now?
It depends on the borough. In October 2026, the average listed rent for a studio to three-bedroom was $6,576 in Manhattan, $4,667 in Brooklyn and $4,184 in Queens. Rents rose fastest in Queens and Manhattan, while Brooklyn barely moved.
Manhattan
$6,576Average rent, up 4%- Listings8,767
- vs. last year0%
- Luxury ($12K+) average$21,602
Brooklyn
$4,667Average rent, up 1%- Listings5,473
- vs. last year+18%
- Luxury ($6K+) average$7,938
Queens
$4,184Average rent, up 5%- Listings2,174
- vs. last year+32%
- Luxury ($5K+) average$7,430
Average listing prices for studios to three-bedroom apartments. Source: Compass Rental Market Report for October 2026.
02
Is rent still going up in Manhattan?
Yes. Average listed rent rose 4% to $6,576, up $262 a month from last year. Two-bedrooms rose the most, up 6% to $7,631, and one-bedrooms rose 5% to $5,269. Studios averaged $3,976, up 4%.
Supply isn't helping. Manhattan had 8,767 rental listings, essentially the same as a year ago, and two-bedroom listings fell 6%.Three-bedroom listingss were the exception, with the average rent down 2% to $11,513. At the top of the market, luxury rentals of $12,000 and up averaged $21,602, up 3%.
03
Is Brooklyn getting easier for renters?
In some ways, yes. Brooklyn had 5,473 rental listings, 18% more than a year ago, and the average rent rose just 1% to $4,667. Larger apartments actually got a little cheaper: two-bedrooms averaged $5,122, down 1%, and three-bedrooms $6,180, down 4%, while three-bedroom listings rose 42%.
Smaller units held their value. Studios rose 4% to $3,429 and one-bedrooms 2% to $4,054. Luxury rentals of $6,000 and up averaged $7,938, down 2%, with 32% more of them on the market.
04
What's happening with rent in Queens?
Rents and supply are both rising. Queens had 2,174 rental listings, up 32% from last year, and average rent rose 5% to $4,184. Studios rose 8% to $3,341, and three-bedrooms jumped about 19% to $5,929.
The high end grew fastest. Luxury rentals of $5,000 and up averaged $7,430, up 10%, and 90% more were listed than a year ago.
05
How much is a one-bedroom or two-bedroom in each borough?
A one-bedroom averages $5,269 in Manhattan, $4,054 in Brooklyn and $3,703 in Queens.
Average rent | Manhattan | Brooklyn | Queens |
|---|---|---|---|
Studio | $3,976 (+4%) | $3,429 (+4%) | $3,341 (+8%) |
One bedroom | $5,269 (+5%) | $4,054 (+2%) | $3,703 (+3%) |
Two bedroom | $7,631 (+6%) | $5,122 (−1%) | $4,863 (+1%) |
Three bedroom | $11,513 (−2%) | $6,180 (−4%) | $5,929 (+19%) |
All, studio to 3BR | $6,576 (+4%) | $4,667 (+1%) | $4,184 (+5%) |
Listings | 8,767 (0%) | 5,473 (+18%) | 2,174 (+32%) |
Average listing prices in October 2026, with change from October 2025 in parentheses. Source: Compass Rental Market Report for October 2026.
06
What does November mean for renters and landlords?
October's numbers point to a split market this month: tight in Manhattan, more competitive for landlords in Brooklyn and Queens.
If you're renting
- In Manhattan, move quickly on two-bedrooms. Rents are up 6% and listings are down 6%.
- In Brooklyn, larger apartments are where you'll find the most room to negotiate.
- In Queens, you have far more choice than last year, especially at the high end.
If you're a landlord
- Manhattan owners can price with confidence, especially for one- and two-bedrooms.
- In Brooklyn and Queens, more competing listings mean pricing, photos and presentation matter more.
- Price against today's listings, not last summer's. Two- and three-bedroom rents in Brooklyn have softened.
Frequently asked questions
How much is rent in NYC right now?
In October 2026, the average listed rent for a studio to three-bedroom was $6,576 in Manhattan, $4,667 in Brooklyn and $4,184 in Queens. Rents were up 4% from a year earlier in Manhattan, 1% in Brooklyn and 5% in Queens.
What is the average rent for a one-bedroom in Manhattan?
$5,269 a month in October 2026, up 5% from $5,004 a year earlier. In Brooklyn, the average one-bedroom listed for $4,054, and in Queens for $3,703.
What is the average rent for a two-bedroom in NYC?
$7,631 in Manhattan, up 6% from last year; $5,122 in Brooklyn, down 1%; and $4,863 in Queens, up 1%.
Are NYC rents going up or down?
Mostly up. Manhattan rents rose 4% and Queens rents 5% from October 2025. Brooklyn was flatter, up 1% overall, with two- and three-bedroom rents slightly lower than a year ago.
Are there more apartments for rent in NYC than last year?
In Brooklyn and Queens, yes. Brooklyn had 18% more rentals listed than a year ago and Queens had 32% more. Manhattan's rental supply was flat at 8,767 listings, with two-bedroom listings down 6%.
Is November a good time to rent an apartment in NYC?
Late fall and winter usually bring less competition than summer. With rental listings up sharply in Brooklyn and Queens, renters there have more options and more room to negotiate this month.
How should landlords price a rental in November?
Start with current comparable listings for your unit size and neighborhood, not last summer's numbers. In Brooklyn and Queens, more competing listings mean pricing and presentation matter more. Contact Darrell Williams for a rental pricing analysis.
Renting out your apartment or looking for your next one? Contact Darrell Williams for a rental pricing analysis or help with your search, or view my Compass profile and listings.
