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NYC Sees Drop in Apartment Rents for December

However, the city still ranks as one of the most expensive areas to rent in the country.

By Anthony Russo | January 08, 2025 at 06:17 AM

New York City continues to be an expensive place for tenants — but renters got a little relief in the last month of 2024. The latest data from Apartment List rental report on the region shows that median prices slipped 1.2 percent to $2,324 in December.

Overall, NYC ranked 89 out of the 100 largest cities the marketplace covered. Aurora, Colorado saw the worst declines in December, with rents plunging 2.4 percent. On average, a NYC apartment is staying on the market for 45 days, which is a six-day increase in the past year.

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