{"id":4092,"date":"2026-08-11T16:52:23","date_gmt":"2026-08-11T20:52:23","guid":{"rendered":"https:\/\/blog.openigloo.com\/?p=4092"},"modified":"2026-08-11T16:52:10","modified_gmt":"2026-08-11T20:52:10","slug":"nyc-rental-market-report-july-2026","status":"publish","type":"post","link":"https:\/\/blog.openigloo.com\/nyc-rental-market-report-july-2026\/","title":{"rendered":"NYC rental market report: July 2026"},"content":{"rendered":"\n

Report snapshot<\/h2>\n\n\n\n
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$4,854<\/h3>\n\n\n\n

Median net rent \u00b7 Citywide<\/strong><\/p>\n<\/div>\n\n\n\n

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0.78<\/h3>\n\n\n\n

Open violations per unit \u00b7 Citywide<\/strong><\/p>\n<\/div>\n\n\n\n

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8.5%<\/h3>\n\n\n\n

Renewals above Good Cause threshold<\/strong><\/p>\n<\/div>\n\n\n\n

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3.77<\/h3>\n\n\n\n

Tenant rating \u00b7 Citywide<\/strong><\/p>\n<\/div>\n<\/div>\n\n\n\n

<\/div>\n\n\n\n

Three terms, used throughout<\/h2>\n\n\n\n
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Gross rent<\/strong><\/p>\n\n\n\n

The advertised asking rent, before any concession is applied.<\/p>\n<\/div>\n\n\n\n

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Concession<\/strong><\/p>\n\n\n\n

A discount on the gross rent, usually granted as “free months.”<\/p>\n<\/div>\n\n\n\n

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Net-effective rent<\/strong><\/p>\n\n\n\n

The monthly rent after applying the concession over the full term of the lease.<\/p>\n<\/div>\n<\/div>\n\n\n\n

Every rent figure in this report is net-effective<\/strong>.<\/p>\n\n\n\n

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Search NYC apartments<\/a><\/div>\n<\/div>\n\n\n\n
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Market landscape \u00b7 What renters pay<\/h2>\n\n\n\n

Citywide median net rent up 6.7% since July 2025<\/p>\n\n\n\n

The citywide median net rent in July 2026 listings was $4,854<\/strong> \u2014 down 1.8% from June 2026 and up 6.7% from July 2025.<\/p>\n\n\n\n

The Bronx led the year at +25.1%<\/strong>, while Brooklyn was weakest at -0.5%.<\/p>\n\n\n\n

\"What
What renters pay \u00b7 Year over year<\/strong> \u2014 Median net rent by borough, July 2025 vs July 2026, with the year-over-year change<\/figcaption><\/figure>\n\n\n\n
<\/div>\n\n\n\n
\"What
What renters pay \u00b7 Month over month<\/strong> \u2014 Median net rent by borough, June 2026 vs July 2026, with the month-over-month change<\/figcaption><\/figure>\n\n\n\n

Concessions<\/h2>\n\n\n\n

Concessions eased in July \u2014 except in Brooklyn.<\/p>\n\n\n\n

Citywide, 9.7% of July 2026 listings came with a concession<\/strong> \u2014 12.6% a month earlier, a -2.9pp move.<\/p>\n\n\n\n

Concessions were most common in Brooklyn (19.2% of listings) and rarest in Manhattan (4.2%) \u2014 more than four times as many listings with concessions.<\/p>\n\n\n\n

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$566<\/h3>\n\n\n\n

Typical concession \u00b7 Monthly<\/strong><\/p>\n\n\n\n

The median concession among July 2026 units offering one \u2014 about $6,792 across an annual lease<\/p>\n<\/div>\n\n\n\n

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~1.5 mo<\/h3>\n\n\n\n

Free-rent equivalent \u00b7 Citywide<\/strong><\/p>\n\n\n\n

What the typical concession is worth in free rent on a 12-month lease<\/p>\n<\/div>\n\n\n\n

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~1.7 mo<\/h3>\n\n\n\n

Free-rent equivalent \u00b7 Brooklyn<\/strong><\/p>\n\n\n\n

The largest concessions of any borough<\/p>\n<\/div>\n<\/div>\n\n\n\n

\"Where
Where concessions are offered<\/strong> \u2014 Percent of July 2026 listings with a net-effective rent below the gross ask, by borough<\/figcaption><\/figure>\n\n\n\n
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Good Cause buildings<\/h2>\n\n\n\n

The same listings look different when sorted by Good Cause coverage rather than by borough. In Good Cause buildings, just 4.2%<\/strong> of July 2026 listings advertised a concession, and where one appeared it was typically worth $267 a month. Outside Good Cause coverage, 20.6%<\/strong> came with a concession, at a typical $585 a month.<\/p>\n\n\n\n

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4.9\u00d7<\/h3>\n\n\n\n

Likelier to carry a concession<\/strong><\/p>\n\n\n\n

Listings in buildings without Good Cause protection were about five times likelier to advertise a concession (20.6% vs 4.2%)<\/p>\n<\/div>\n\n\n\n

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119%<\/h3>\n\n\n\n

Higher, when offered<\/strong><\/p>\n\n\n\n

Concessions in buildings without Good Cause protection were 119% higher than those in protected buildings ($585 vs $267 a month)<\/p>\n<\/div>\n<\/div>\n\n\n\n

July 2026<\/th>Good Cause buildings<\/th>All other listings<\/th><\/tr><\/thead>
Listings with a concession<\/td>4.2%<\/td>20.6%<\/td><\/tr>
Typical concession, when offered<\/td>$267<\/td>$585<\/td><\/tr>
Median net rent<\/td>$4,695<\/td>$4,997<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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Search apartments in Good Cause buildings<\/a><\/div>\n<\/div>\n\n\n\n
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Renter sentiment<\/h2>\n\n\n\n

Queens rated highest at 3.85, The Bronx lowest at 2.76<\/p>\n\n\n\n

Owner responsiveness ranks last in 4 of 5 boroughs<\/p>\n\n\n\n

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3.77<\/h3>\n\n\n\n

Overall rating \u00b7 Citywide<\/strong><\/p>\n\n\n\n

Average across eight rated categories, from July 2026’s published renter reviews<\/p>\n<\/div>\n\n\n\n

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3.31<\/h3>\n\n\n\n

Owner responsiveness<\/strong><\/p>\n\n\n\n

Renters’ lowest-scoring category citywide<\/p>\n<\/div>\n\n\n\n

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68.6%<\/h3>\n\n\n\n

Would recommend their building<\/strong><\/p>\n\n\n\n

About two in three July 2026 reviewers; 62.5% approve of their landlord<\/p>\n<\/div>\n<\/div>\n\n\n\n

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<\/th>Manhattan<\/th>Brooklyn<\/th>Queens<\/th>The Bronx<\/th>Staten Island<\/th><\/tr><\/thead>
Overall<\/strong><\/td>3.82<\/strong><\/td>3.71<\/strong><\/td>3.85<\/strong><\/td>2.76<\/strong><\/td>3.45<\/strong><\/td><\/tr>
Owner responsiveness<\/td>3.43<\/td>3.15<\/td>3.44<\/td>2.05<\/td>3.64<\/td><\/tr>
Cleanliness<\/td>3.75<\/td>3.70<\/td>3.87<\/td>2.84<\/td>3.05<\/td><\/tr>
Garbage management<\/td>3.97<\/td>3.85<\/td>4.06<\/td>3.32<\/td>3.36<\/td><\/tr>
Heat<\/td>3.78<\/td>3.81<\/td>3.88<\/td>3.00<\/td>3.77<\/td><\/tr>
Neighbors<\/td>4.16<\/td>3.97<\/td>3.88<\/td>2.95<\/td>3.18<\/td><\/tr>
Noise levels<\/td>3.79<\/td>3.53<\/td>3.72<\/td>2.79<\/td>3.64<\/td><\/tr>
Pest control<\/td>3.65<\/td>3.66<\/td>3.79<\/td>2.11<\/td>3.05<\/td><\/tr>
Water pressure<\/td>4.04<\/td>4.03<\/td>4.15<\/td>3.00<\/td>3.91<\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div>\n<\/div>\n\n\n\n
Rank<\/th>Neighborhood<\/th>Rating \u00b7 July 2026<\/th>Rating \u00b7 July 2025<\/th>Rank change<\/th><\/tr><\/thead>
1<\/td>Murray Hill<\/td>4.22<\/td>3.82<\/td>\u2191 7<\/td><\/tr>
2<\/td>Downtown Brooklyn<\/td>4.17<\/td>4.06<\/td>\u2014<\/td><\/tr>
3<\/td>Financial District<\/td>4.15<\/td>3.96<\/td>\u2014<\/td><\/tr>
4<\/td>Chelsea<\/td>4.13<\/td>3.75<\/td>\u2191 9<\/td><\/tr>
5<\/td>Hell’s Kitchen<\/td>4.11<\/td>3.71<\/td>\u2191 11<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Overall rating from July reviewers, and each neighborhood’s standing a year earlier.<\/p>\n\n\n\n