{"id":4154,"date":"2026-08-11T16:48:15","date_gmt":"2026-08-11T20:48:15","guid":{"rendered":"https:\/\/blog.openigloo.com\/?p=4154"},"modified":"2026-08-11T16:50:32","modified_gmt":"2026-08-11T20:50:32","slug":"nyc-rental-market-report-june-2026","status":"publish","type":"post","link":"https:\/\/blog.openigloo.com\/nyc-rental-market-report-june-2026\/","title":{"rendered":"NYC rental market report: June 2026"},"content":{"rendered":"\n

Report snapshot<\/h2>\n\n\n\n
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$4,957<\/h3>\n\n\n\n

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

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0.79<\/h3>\n\n\n\n

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

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8.8%<\/h3>\n\n\n\n

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

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3.75<\/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 3.3% since June 2025<\/p>\n\n\n\n

The citywide median net rent in June 2026 listings was $4,957<\/strong> \u2014 up 1.2% from May 2026 and up 3.3% from June 2025.<\/p>\n\n\n\n

The Bronx led the year at +14.9%<\/strong>, while Brooklyn was weakest at +1.2%.<\/p>\n\n\n\n

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

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

June concession rate reached 12.6% citywide; Queens topped the list at 23.5%<\/p>\n\n\n\n

Citywide, 12.6% of June 2026 listings came with a concession<\/strong><\/p>\n\n\n\n

Concessions were most common in Queens (23.5% of listings) and rarest in Manhattan (7.8%) \u2014 more than three times as many listings with concessions.<\/p>\n\n\n\n

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$571<\/h3>\n\n\n\n

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

The median concession among June 2026 units offering one \u2014 about $6,852 across an annual lease<\/p>\n<\/div>\n\n\n\n

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~1.3 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 June 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 3.2%<\/strong> of June 2026 listings advertised a concession, and where one appeared it was typically worth $308 a month. Outside Good Cause coverage, 25.3%<\/strong> came with a concession, at a typical $583 a month.<\/p>\n\n\n\n

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7.9\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 eight times likelier to advertise a concession (25.3% vs 3.2%)<\/p>\n<\/div>\n\n\n\n

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89%<\/h3>\n\n\n\n

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

Concessions in buildings without Good Cause protection were 89% higher than those in protected buildings ($583 vs $308 a month)<\/p>\n<\/div>\n<\/div>\n\n\n\n

June 2026<\/th>Good Cause buildings<\/th>All other listings<\/th><\/tr><\/thead>
Listings with a concession<\/td>3.2%<\/td>25.3%<\/td><\/tr>
Typical concession, when offered<\/td>$308<\/td>$583<\/td><\/tr>
Median net rent<\/td>$4,750<\/td>$5,038<\/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

Manhattan rated highest at 3.85, The Bronx lowest at 2.90<\/p>\n\n\n\n

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

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3.75<\/h3>\n\n\n\n

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

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

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3.27<\/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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67.9%<\/h3>\n\n\n\n

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

About two in three June 2026 reviewers; 62.3% approve of their landlord<\/p>\n<\/div>\n<\/div>\n\n\n\n

<\/th>Manhattan<\/th>Brooklyn<\/th>Queens<\/th>The Bronx<\/th>Staten Island<\/th><\/tr><\/thead>
Overall<\/strong><\/td>3.85<\/strong><\/td>3.63<\/strong><\/td>3.63<\/strong><\/td>2.90<\/strong><\/td>3.28<\/strong><\/td><\/tr>
Owner responsiveness<\/td>3.40<\/td>3.12<\/td>3.16<\/td>2.06<\/td>3.42<\/td><\/tr>
Cleanliness<\/td>3.83<\/td>3.57<\/td>3.59<\/td>2.71<\/td>2.96<\/td><\/tr>
Garbage management<\/td>4.01<\/td>3.71<\/td>4.03<\/td>3.12<\/td>3.17<\/td><\/tr>
Heat<\/td>3.79<\/td>3.63<\/td>3.77<\/td>3.29<\/td>3.67<\/td><\/tr>
Neighbors<\/td>4.16<\/td>3.98<\/td>3.46<\/td>3.18<\/td>3.00<\/td><\/tr>
Noise levels<\/td>3.83<\/td>3.66<\/td>3.39<\/td>3.06<\/td>3.42<\/td><\/tr>
Pest control<\/td>3.76<\/td>3.49<\/td>3.57<\/td>2.65<\/td>2.88<\/td><\/tr>
Water pressure<\/td>4.03<\/td>3.91<\/td>4.07<\/td>3.18<\/td>3.75<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
Rank<\/th>Neighborhood<\/th>Rating \u00b7 June 2026<\/th>Rating \u00b7 June 2025<\/th>Rank change<\/th><\/tr><\/thead>
1<\/td>Stuyvesant Town\/PCV<\/td>4.44<\/td>4.27<\/td>\u2191 2<\/td><\/tr>
2<\/td>Downtown Brooklyn<\/td>4.34<\/td>4.10<\/td>\u2191 3<\/td><\/tr>
3<\/td>Financial District<\/td>4.17<\/td>4.44<\/td>\u2193 2<\/td><\/tr>
4<\/td>Chelsea<\/td>4.06<\/td>3.89<\/td>\u2191 4<\/td><\/tr>
5<\/td>Murray Hill<\/td>4.04<\/td>3.70<\/td>\u2191 11<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

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