Index and listing median answer different questions
ZORI is designed to track asking-rent change while controlling for quality mix. A portal median describes the middle advertised unit in that provider's current pool.
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Rent index · asking rent · concessions
Manhattan Rental Context: Index, Asking Median, Inventory
A rental snapshot that keeps Zillow's quality-adjusted rent index separate from portal asking medians and listing counts.
Manhattan / New York County rental market, broad context
August 2026
Published September 29, 2026
Updated September 30, 2026
Zillow average rent
$4,818
New York County, August 31, 2026; ZORI context
StreetEasy median asking rent
$4,995
Manhattan, August 2026, up 5.2% YoY
Realtor.com median rental price
$5,230
New York County, charts through August 2026
StreetEasy rental inventory
15,665
Manhattan, August 2026, down 8.2% YoY
Concession share
12.2%
StreetEasy Manhattan listings with at least one month free
Reader question: Which August 2026 Manhattan rent number is useful for a lease decision?
Short answer: Start with the measure that answers the question: a quality-adjusted rent index tracks broad change, an asking median describes the advertised pool, and concessions affect effective cost. None replaces the actual lease and comparable units.
| Measure | Reported value | Provider scope and period |
|---|---|---|
| Zillow average rent | $4,818 | New York County, August 31, 2026; ZORI context |
| StreetEasy median asking rent | $4,995 | Manhattan, August 2026, up 5.2% YoY |
| Realtor.com median rental price | $5,230 | New York County, charts through August 2026 |
| StreetEasy rental inventory | 15,665 | Manhattan, August 2026, down 8.2% YoY |
| Concession share | 12.2% | StreetEasy Manhattan listings with at least one month free |
Gross rent is not effective rent
A concession can change effective cost. StreetEasy defined a concession here as at least one month free, so the asking-rent median and concession share should be reviewed together, then checked against the exact lease.
Apartment-level work remains necessary
Borough-level rent figures do not price a particular furnished townhouse, co-op sublet, new-development unit, or apartment with a specific term and amenity package.
Method
- — Retained provider-specific labels for average, median asking rent, and quality-adjusted index context.
- — Did not convert advertised concessions into a universal effective-rent estimate.
- — Did not apply broad rental changes to a neighborhood, bedroom count, or building class without matching data.
Sources
Zillow, New York County Housing Market
Accessed September 29, 2026. The supplied Manhattan URL rendered New York County figures. ZHVI is a modeled typical value, while sale, list, inventory, and pending metrics use separate reporting dates.
Realtor.com Research, New York County Housing Market
Accessed September 29, 2026. New York County listing and rental metrics. Charts state data through August 2026; sale-to-list information on the page is separately dated September 2026.
StreetEasy, August 2026 NYC Housing Market Report
Accessed September 29, 2026. Manhattan asking-price, inventory, contract, days-on-market, and rental figures. Asking and contract metrics are not closed-sale medians.
Common questions
Is a concession the same as a lower rent?
Not necessarily. A concession can lower first-term effective cost while the lease, qualification, renewal, and default provisions still use the gross rent.
Can a borough rent median price my apartment?
No. Building, term, furnished status, amenities, condition, and timing can materially change an individual rental comparison.
By Tracie Golding, Licensed Associate Real Estate Broker at Compass.