Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Manhattan area can be challenging. Home prices in Manhattan are now at a median cost of $1,017,878, higher than the New York average of $481,023.
The average cost of rent is $1,994/mo in Manhattan, primarily driven by the current value of real estate in the Manhattan area. While nearly 56.80% of residents own their homes outright in Manhattan, 74.40% rent.
Housing affordability isn’t just about home prices, though. The average household income in Manhattan is $9,073 per month. Households that rent pay about 21.98% of their income on rent here. Manhattan's most expensive areas are in the southwestern regions, while the cheapest areas are in the western parts of the city.
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