Apartment Rentals in New York
Apartments for rent in New York are much more expensive than the national average. The price of a studio averages $1348 per month, which is $299 above the national average and a difference of 28.5 percent. The price of a one-bedroom averages $1127 per month, which is $297 above the national average and a difference of 30.5 percent. The reason that studio apartments for rent in NY cost more than one-bedrooms is that a lot more studios tend to be rented in high-priced areas, whereas in lower-rent areas the smallest apartments you're likely to find are one-bedrooms.
Larger New York apartment rentals follow the same trends. The price of a two-bedroom averages $1725 per month, which is $676 above the national average and a difference of 64 percent. The price of a three-bedroom averages $3354 per month, which is $627 above the national average and a difference of 155 percent.
If you're searching for a NY apartment rental you should know that the trends vary depending on which city or county you're looking at. The most expensive New York apartments for rent are in Roosevelt Island, followed by New York City, Great Neck and White Plains. The cheapest New York apartment rentals are in Lockport, followed by Binghamton, Johnson City, and Liverpool.
Economy:
New York is considered the financial capital of the world. Most major market transactions pass through New York City (at least electronically) and all of the world's leading financial firms have operations there. The city is the fifth leading tourist destination in the world and Times Square is the biggest tourist destination in the country. But outside of the city, manufacturing, government and health services and agriculture are big. Though famous for its apples, New York is a top producer of a wide variety of foods, and over a quarter of its area is farmland.
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