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Manhattan home to 26 of 50 most expensive ZIP codes for renters, report says

Two Manhattan ZIP codes boast average monthly rents above $5,000, per the report.

Rockefeller Park in Battery Park City, Manhattan is

Rockefeller Park in Battery Park City, Manhattan is part of the most expensive ZIP code in the country for renters, according to a report by RentCafé. Photo Credit: Linda Rosier

It’s no secret that rent in most of Manhattan is sky-high, but a recent report suggests the borough is home to 26 of the country’s 50 most expensive ZIP codes for renters.

RentCafé, a national apartment listings website, analyzed more than 15 million apartments in ZIP codes across 130 major U.S. markets to come up with its 2018 ranking.

With an average rent of $5,657 a month, ZIP code 10282, which covers the northern tip of Battery Park City near Rockefeller Park, was ranked the most expensive in the nation for the second year in a row.

ZIP code 10013, which includes most of TriBeCa, the southern part of SoHo and the western edge of Chinatown, jumped six spots to rank second this year with an average rent of $5,226.

In total, Manhattan ZIP codes — of which, there are 43 — take up eight of the top 10 spots in the ranking. Los Angeles, California’s 90024 ranked third at $4,883 per month and San Francisco’s 94105 came in sixth with $4,666 a month.

Brooklyn was the only other New York City borough to make an appearance in the report. ZIP code 11201, which covers Brooklyn Heights and northern Cobble Hill, was ranked 38th most expensive with an average rent of $3,702.

RentCafé’s annual report was compiled using data provided by real estate research firm Yardi Matrix based on actual rents charged in market-rated apartment communities of 50 units and larger.

“This allows us to create an accurate representation of what renters are expected to pay for rent in apartment communities across the country, unlike reports based on listings (i.e., asking prices) only,” the report’s methodology says.

The average rent for the U.S. hit an all-time high of $1,409 in July, according to RentCafé, meaning that rent in Manhattan’s most expensive ZIP code was more than four times the national average.

“Much like outside temperatures, rents usually peak toward the middle of summer, and this year it really is scorching out there,” the report says.

RentCafé also listed the 50 cheapest ZIP codes for renters in the country, none of which were in New York City.


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