NYC Rent Growth Monitor: March 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 February 2026.

Main Takeaway: NYC rent growth remains resilient, with Manhattan leading gains and Brooklyn driving momentum.

Breakdown & Analysis

Rent growth across New York City remained positive in February, with short-term momentum continuing to outpace the national trend. On a year-over-year basis, rents rose 4.2% across the NYC metro area, more than double the 1.8% increase observed nationally. At the borough level, Manhattan led with 6.0% annual growth, followed by Brooklyn (5.6%) and Queens (4.4%), while the Bronx (1.7%) and Staten Island (3.1%) trailed.

Short-term momentum tells a similar story, though with more pronounced divergence. On a month-over-month basis, rents increased 0.3% across the NYC metro area, compared to 0.1% nationally. Brooklyn led with a 0.4% gain, while Manhattan rose 0.3%. Queens and the Bronx saw more modest increases of 0.1%, and Staten Island declined sharply. On a three-month moving average basis, annualized rent growth in NYC stands at 2.4%, compared to just 0.8% nationally, reinforcing the relative strength of the local market.

Taken together, the data point to a market that has stabilized following the post-pandemic normalization, but where growth remains uneven. Manhattan is now posting the strongest annual rent growth, while Brooklyn continues to exhibit the strongest and most consistent short-term momentum. Other boroughs are expanding at a slower pace, and in some cases showing signs of softening. While national rent growth remains subdued, NYC continues to outperform, though the current pace suggests a period of steady expansion rather than broad-based acceleration.