NYC is home to one-third of the country’s most expensive zip codes for renters

New York is the largest US city by population. Nearly nine million people live in this city, and most of them are renters. Although sky-high rents in New York City have long been a topic of discussion, last year, New Yorkers saw prices surge for six months in a row. The average Manhattan rent set a new record in July 2022 after climbing to $5,113 a month. 

Recently, RentHop published a list of the “100 most expensive zip codes for renters” in the United States. New York claimed 38 spots on the rental platform’s list, more than any other city in the country. This was also an increase from 2021 when Big Apple had 31 most expensive zip codes in the U.S. 

New Yorkers living in Manhattan are more likely to come across a pricey rental unit. This borough is home to 31 out of 38 most expensive zip codes in New York City. Renters in Battery Park City (10282) pay more than anyone else in the city, according to RentHop. The median rental price for a two-bedroom apartment in this neighborhood is $8,550. Those looking to rent a one-bedroom in Battery Park City will pay a median of $5,600. 

The second priciest zip code in New York City is 10007, Tribeca. The listing platform found that the median rent in this neighborhood is $8,400 for a two-bedroom apartment and $5,825 for a one-bedroom unit. Hudson Yards (10001), Chelsea, rounded the list of the top 3 most expensive zip codes in New York City. The median asking rent for a two-bedroom in Hudson Yards is $7,650, while one-bedroom apartments list for a median of $5,150. 

“The housing market was a rollercoaster ride in 2022. Home prices soared in cities like Miami and Hialeah while overheated markets like Austin and Boise cooled,” RentHop’s report said. “On the rental front, median rents skyrocketed in New York, Boston, and other major cities, as demand far outpaced supply.”

Los Angeles was the second priciest rental market after New York, with 14 of the most expensive zip codes for renters. North of Montana (90402), Santa Monica, ranked eleventh on the RentHop 100 zip codes list. The median rent in this neighborhood was $8,000 for a two-bedroom home and $5,000 for a one-bedroom residence. Bel Air (90077) and Beverly Hills (90210) also had some of the highest rental prices. 

Resources:

“The Most Expensive Rental Zip Codes in the U.S.” (RentHop, 2023)

“Manhattan has one-third of the priciest zip codes in the U.S. for renters,” by Jennifer White Karp (Brick Underground, 2023)