Rent prices in New York (FY2027)
The average FY2027 Fair Market Rent for a 2-bedroom in New York is $2,402 a month including utilities — 36% above the U.S. average, ranging from $1,014 to $2,971 by area. Find your metro below and check what you can afford.
Ranks #5 of 51 (50 states + DC) for 2-bedroom rent. See all states
Metro areas in New York
2-bedroom FMR; arrow = change vs FY2026. Sorted by population in New York. Tap a metro for studio to 4 bedrooms and the income you need.
Rural counties (non-metro)
Big number = 2-bedroom FMR. HUD sets a floor: no 2-bedroom FMR may be below the lower of the state’s or the national non-metro median ($1,014 for FY2027).
Rent affordability check
Compares the FY2027 Fair Market Rents averaged across New York with 30% of your gross monthly income — HUD’s line for a “cost-burdened” renter. For the 28/36 rule and your debts, use the full rent affordability calculator.
Income needed at the New York average
Gross yearly income so that rent plus utilities is 30% of income; hourly = yearly ÷ 2,080 hours.
What a Fair Market Rent is (and is not)
A Fair Market Rent (FMR) is set every year by the U.S. Department of Housing and Urban Development (HUD). It is HUD’s estimate of the 40th-percentile gross rent — rent plus utilities (except phone, cable and internet) — paid by recent movers into standard-quality, non-luxury rental homes in an area. In other words, about 40% of recently rented units in the area cost less than the FMR and about 60% cost more.
FMRs are not asking rents and not the price of any specific listing. They are built from Census Bureau American Community Survey rents and updated with inflation and trend factors, so they lag the newest listings and smooth out neighborhood differences. HUD uses them to set Housing Choice Voucher (Section 8) payment standards and other program rents. Treat them as a solid, official benchmark for a typical modest rental — new listings in popular neighborhoods often cost more.
Questions & answers
What is the average rent in New York?
Using HUD’s FY2027 Fair Market Rents, the population-weighted average for a 2-bedroom in New York is $2,402 a month including utilities — 36% above the U.S. average of $1,761. A 1-bedroom averages $2,120 and a studio $1,968.
Where is rent cheapest in New York?
The lowest FY2027 2-bedroom FMR in New York is $1,014 in Allegany County, NY; the highest is $2,971 in New York, NY.
How much do I need to earn to rent in New York?
At the 30% rule, a 2-bedroom at the state-average FMR of $2,402 needs $96,080 a year in gross income (about $46.19 an hour full-time). A 1-bedroom at $2,120 needs $84,800.
Did rent go up in New York this year?
The population-weighted 2-bedroom FMR in New York changed +1.3% from FY2026 to FY2027, compared with +1.5% for the U.S.
Is the Fair Market Rent what landlords charge?
Not exactly. It is HUD’s 40th-percentile estimate of rent plus utilities paid by recent movers into standard-quality units — a benchmark for a modest rental. Many listings, especially new or central ones, ask more.
Source: HUD User, FY2027 Fair Market Rents (effective October 1, 2026; Federal Register notice), compared with FY2026 revised FMRs. HUD data is in the public domain. State and U.S. averages are Tachlis calculations weighted by each county’s population as listed in HUD’s file. HUD may revise FMRs for areas that request a reevaluation.
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