NYC Rent Growth Monitor: April 2026

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The NYC Rent Growth Monitor is a monthly breakdown of rent growth performance and momentum across Manhattan, Brooklyn, Queens, the Bronx, and Staten Island. Data are sourced from Zillow’s Observed Rent Index (ZORI), are seasonally adjusted, and are subject to revision. The current release reflects data through March 2026.

Main Takeaway: NYC rent growth continues to outpace the national trend, with Manhattan leading annual gains while short-term momentum remains uneven across boroughs.

Breakdown & Analysis

Rent growth across New York City remained positive in March, continuing to run well ahead of the national average. On a year-over-year basis, rents rose 4.1% across the NYC metro area, compared to 1.7% nationally. At the borough level, Manhattan again led with 6.0% annual growth, followed by Brooklyn at 5.2% and Queens at 3.6%. The Bronx accelerated to 3.3%, while Staten Island slowed to 1.9%.

Short-term momentum was more mixed. On a month-over-month basis, rents increased 0.2% across the NYC metro area, compared to 0.1% nationally. The Bronx posted the strongest monthly gain at 0.5%, followed by Manhattan at 0.4% and Brooklyn at 0.3%. Queens was effectively flat, while Staten Island declined 0.7%. On a three-month moving average basis, annualized rent growth in NYC stands at 2.5%, compared to 0.7% nationally.

Taken together, the data continue to point to a market that is outperforming the US overall, but with less uniform momentum beneath the surface. Manhattan remains the strongest borough on an annual basis, while Brooklyn continues to show solid near-term momentum. Queens has cooled, the Bronx showed a stronger monthly reading, and Staten Island remains comparatively volatile. Overall, NYC rent growth remains resilient, though recent momentum is more selective than broad-based.