Chelsea, Manhattan, NY Rental Market Trends
Last updated: February 17, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Chelsea is $5,407, a 6.05% decrease compared to the previous year, when the average rent was $5,755.
Studio Apartments at $4,283 offer the most budget-friendly option with 475 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 705 square feet for $6,189, balancing privacy and affordability.
Two-beedroom units at $7,532 offer 986 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,203 sq ft) for $13,370, suitable for larger households.
Average rent in Chelsea, Manhattan, NY
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $5,407 | 617 sq. ft. |
| Studio | $4,283 | 475 sq. ft. |
| 1 Bed | $6,189 | 705 sq. ft. |
| 2 Beds | $7,532 | 986 sq. ft. |
| 3 Beds | $13,370 | 1,203 sq. ft. |
Chelsea, Manhattan, NY rent trends
Rental prices in Chelsea, Manhattan, NY have decreased by 6.05% over the past year. The average rent moved from $5,755 to $5,407.
Do most people rent or own in Chelsea, Manhattan, NY?
19,115 or 68% of the households in Chelsea, Manhattan, NY are renter-occupied while 8,992 or 32% are owner-occupied.
Most affordable neighborhoods in Chelsea?
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 Chelsea?
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 Chelsea is 7% lower than in Battery Park City
Chelsea rent is the same as Manhattan average
Battery Park City rent is 7% 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 Chelsea 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.