Gramercy Park, Manhattan, NY Rental Market Trends
Last updated: February 24, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Gramercy Park is $5,605, a 25.66% increase compared to the previous year, when the average rent was $4,460.
Studio Apartments at $5,328 offer the most budget-friendly option with 443 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 735 square feet for $5,536, balancing privacy and affordability.
Two-beedroom units at $6,061 offer 965 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,565 sq ft) for $6,318, suitable for larger households.
Average rent in Gramercy Park, Manhattan, NY
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $5,605 | 670 sq. ft. |
| Studio | $5,328 | 443 sq. ft. |
| 1 Bed | $5,536 | 735 sq. ft. |
| 2 Beds | $6,061 | 965 sq. ft. |
| 3 Beds | $6,318 | 1,565 sq. ft. |
Gramercy Park, Manhattan, NY rent trends
Rental prices in Gramercy Park, Manhattan, NY have increased by 25.66% over the past year. The average rent moved from $4,460 to $5,605.
Do most people rent or own in Gramercy Park, Manhattan, NY?
6,010 or 67% of the households in Gramercy Park, Manhattan, NY are renter-occupied while 2,895 or 33% are owner-occupied.
Most affordable neighborhoods in Gramercy Park?
Washington Heights $2,741/month
Inwood $2,815/month
Harlem $3,315/month
All of these neighborhoods fall below the city wide average of $5,524/month.Most expensive neighborhoods in Gramercy Park?
Sutton Place $6,590/month
Carnegie Hill $7,049/month
Lincoln Square $7,834/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Manhattan, NY By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Lincoln Square | $7,834 |
| Carnegie Hill | $7,049 |
| Sutton Place | $6,590 |
| Greenwich Village | $6,554 |
| TriBeCa | $6,506 |
| Lenox Hill | $6,471 |
| NoHo | $6,410 |
| NoMad | $6,403 |
| West Village | $6,200 |
| East Village | $6,028 |
| Yorkville | $5,929 |
| Flatiron District | $5,836 |
| Battery Park City | $5,787 |
| Lower East Side | $5,778 |
| Financial District | $5,667 |
| Gramercy Park | $5,605 |
| Manhattan Valley | $5,499 |
| Central Midtown | $5,412 |
| Chelsea | $5,407 |
| Upper West Side | $5,361 |
| Kips Bay | $5,311 |
| Murray Hill | $5,231 |
| Theatre District - Times Square | $5,178 |
| Clinton - Hell's Kitchen | $5,048 |
| Turtle Bay | $5,003 |
| Central Park South | $4,807 |
| Garment District | $4,745 |
| Koreatown | $4,673 |
| Roosevelt Island | $4,267 |
| East Harlem | $4,028 |
| Harlem | $3,315 |
| Inwood | $2,815 |
| Washington Heights | $2,741 |
Manhattan | Rent Comparison by Neighborhood
Rent in Gramercy Park is 3% lower than in Battery Park City
Gramercy Park rent is the same as Manhattan average
Battery Park City rent is 3% higher than Manhattan average
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Gramercy Park apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.