Kips Bay, Manhattan, NY Rental Market Trends
Last updated: May 12, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Kips Bay is $5,755, a 9.08% increase compared to the previous year, when the average rent was $5,276.
Studio Apartments at $4,300 offer the most budget-friendly option with 485 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 682 square feet for $5,299, balancing privacy and affordability.
Two-beedroom units at $7,051 offer 993 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,095 sq ft) for $8,231, suitable for larger households.
Average rent in Kips Bay, Manhattan, NY
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $5,755 | 751 sq. ft. |
| Studio | $4,300 | 485 sq. ft. |
| 1 Bed | $5,299 | 682 sq. ft. |
| 2 Beds | $7,051 | 993 sq. ft. |
| 3 Beds | $8,231 | 1,095 sq. ft. |
Kips Bay, Manhattan, NY rent trends
Rental prices in Kips Bay, Manhattan, NY have increased by 9.08% over the past year. The average rent moved from $5,276 to $5,755.
Do most people rent or own in Kips Bay, Manhattan, NY?
11,584 or 74% of the households in Kips Bay, Manhattan, NY are renter-occupied while 4,068 or 26% are owner-occupied.
Most affordable neighborhoods in Kips Bay?
Harlem $2,050/month
Washington Heights $3,211/month
East Harlem $3,757/month
All of these neighborhoods fall below the city wide average of $5,324/month.Most expensive neighborhoods in Kips Bay?
NoMad $6,692/month
NoLIta $6,954/month
Flatiron District $7,093/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Manhattan, NY By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Flatiron District | $7,093 |
| NoLIta | $6,954 |
| NoMad | $6,692 |
| TriBeCa | $6,506 |
| NoHo | $6,410 |
| Lincoln Square | $6,351 |
| Lower East Side | $6,301 |
| Sutton Place | $6,199 |
| Central Midtown | $6,045 |
| Chelsea | $5,934 |
| Lenox Hill | $5,773 |
| Kips Bay | $5,772 |
| Financial District | $5,707 |
| East Village | $5,606 |
| Turtle Bay | $5,597 |
| Murray Hill | $5,457 |
| West Village | $5,422 |
| Clinton - Hell's Kitchen | $5,384 |
| Manhattan Valley | $5,364 |
| Theatre District - Times Square | $5,322 |
| Carnegie Hill | $5,256 |
| Greenwich Village | $5,100 |
| Yorkville | $5,079 |
| Garment District | $4,745 |
| Civic Center | $4,639 |
| Upper West Side | $4,383 |
| Morningside Heights | $4,377 |
| Gramercy Park | $4,158 |
| East Harlem | $3,757 |
| Washington Heights | $3,211 |
| Harlem | $2,050 |
Manhattan | Rent Comparison by Neighborhood
Rent in Kips Bay is 10% higher than in Carnegie Hill
Kips Bay rent is 1% higher than Manhattan average
Carnegie Hill rent is 9% lower 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 Kips Bay 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.