Metro report · NY
New York
New York-Newark-Jersey City, NY-NJ-PA metro area
- Rent
- $2,341
- Vacancy
- 4.9%
- Concess.
- 25%
Photo: Luca Bravo / Unsplash
Asking rent (new leases)
$2,341/mo
1BR $2,143 · 2BR $2,398 · +2.5% vs. a year ago · −0.2% vs. last month
Median rent on new leases, all apartment classes.
As of Oct 2026 · Apartment List Rent Estimates (Oct 2026) · published 2026-10-28
Class A asking rent
Data coming
We only publish a Class A-only figure once we have a free, citable source for it. Until then, use the market-wide number and the concession rate as a guide.
Vacancy
4.9%
4.6% a year ago (+0.3 pts)
Apartment List Vacancy Index (properties listed on its platform, skews professionally managed).
As of Oct 2026 · Apartment List Vacancy Index (Oct 2026) · published 2026-10-28
Concessions
25%
of properties advertise a free month or more, vs. 20% a year ago (+5 pts).
Share of properties advertising at least one free month (or equivalent) on new leases. Median time on market: 35 days.
As of Oct 2026 · Apartment List Concession Rates (Oct 2026) · method
Pipeline / new supply
32,968
units in 5+ unit buildings permitted Jan–Sep 2026, vs. 21,429 in Jan–Sep 2025 (+54%). More permits now means more new supply competing for renters once those projects deliver, typically a couple of years out.
Permits are an early signal, not deliveries. Under-construction counts: data coming.
As of Sep 2026 · U.S. Census Bureau Building Permits Survey, CBSA monthly (Sep 2026 YTD vs Sep 2025 YTD) · accessed 2026-11-11
Reader concession sightings
None yet. Seen a free-rent offer at a Class A property here? Send it in; we check each one before it goes up.
Refi read-through
What it means for a refi here
The 10-year Treasury is at 4.88% (−0.03 pts on the week). Lenders size loans on NOI, so rising concessions and flat-to-falling rents squeeze proceeds even if rates hold. Test your loan →
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