New York City Retains Top Spot for Highest Median Rent in the US
New York City Dominates the List
New York City has retained its title for having the most zip codes with the highest median rent in the United States in 2024, according to a report by the real estate firm RentHop. For the second consecutive year, the report found that New York City accounts for 39 of the 100 zip codes with the most expensive rent across the country. This includes 30 in Manhattan, eight in Brooklyn, and one in Queens.
Top 10 Most Expensive Areas to Rent
Two New York City zip codes, both in Manhattan, placed among the top ten most expensive areas to rent. The first, 10007, is comprised mainly of the neighborhood of Tribeca. The report concluded that the median monthly rent is $6,080 for a one-bedroom unit and $9,070 for a two-bedroom unit. Right behind Tribeca, placing second, is the 10282 zip code, comprised primarily of Battery Park City. The median monthly rent for apartments there was $6,000 for one-bedroom units and $8,800 for two-bedroom units.
Queens and Brooklyn Represent
The one Queens zip code to rank among the top 100 in the U.S. was 11109, which is comprised of the neighborhood of Hunters Point in Long Island City. This neighborhood is close to the water and a short distance from Manhattan, making the amenity-rich units highly sought after. The median monthly rent at the Hunters Point waterfront in 2024 was $4,180 for one-bedroom units and $6,157 for two-bedroom units.
In Brooklyn, most of the eight zip codes are found in highly sought-after neighborhoods in the northwest portion of the borough, including Williamsburg (11249), Greenpoint (11222), and Boerum Hill (11217). The high rental prices in this area are due in large part to popular new builds and renovated townhouses with outdoor space.
New York State Leads the Way
New York State as a whole accounts for nearly half of the 100 zip codes with the highest median rent in 2024. In addition to the 39 zip codes within New York City, there are also another five within the state, bringing its total up to 44 within the top 100.
Other Top States
Just eight other states accounted for the other 56 zip codes. California finished a distant second behind New York, with 28 zip codes, followed by Florida with 15, Massachusetts with five, Colorado with three, New Jersey with two, and Nevada, Texas, and Connecticut with one each.
Conclusion
New York City’s dominance in the rental market is clear, with 39 zip codes ranking among the top 100 in the US. With high demand and limited supply, it’s no surprise that rent prices continue to rise in many areas of the city. As the competition for housing continues to grow, renters may find themselves facing higher prices and shorter lease terms.
Frequently Asked Questions
Q: How many zip codes in New York City rank among the top 100 in the US?
A: 39
Q: Which neighborhoods in Brooklyn are among the most expensive to rent?
A: Williamsburg (11249), Greenpoint (11222), and Boerum Hill (11217)
Q: What is the median monthly rent for a one-bedroom unit in the 10007 zip code?
A: $6,080
Q: Which Queens neighborhood was the only one to rank among the top 100 in the US?
A: Hunters Point in Long Island City (11109)
