Here's How Much Less Harlem Apartments Cost In 2021

HARLEM, NY — Tenants who moved to Harlem last month likely paid hundreds of dollars less than they would have in January 2020, as Harlem cemented its status as one of Manhattan's cheapest neighborhoods, a new study shows.

Average apartment rents dropped by a whopping 15.2 percent in Harlem last month compared to the same time last year, according to the study, released Friday by the real estate firm MNS.

As the pandemic wears on, prices have continued to fall in Harlem, even as they rise in other parts of the city. Average rents for non-doorman studios, one-bedroom and two-bedroom apartments all declined between December and January.

"Overall, the average rental price in Manhattan is down 17.74% from this time last year," researchers wrote.

In Harlem, an average non-doorman studio would have cost $1,867 in January 2020, one-bedrooms cost $2,395 and two-bedrooms cost $2,916.

By last month, average rents had fallen to $1,704 for studios, $2,093 for one-bedrooms and $2,459 for two-bedrooms.

The only Harlem apartments where prices rose slightly last month were two-bedrooms with doormen, which climbed by just 0.1 percent.

Across the board, Harlem was the cheapest Manhattan neighborhood measured by the study, with rents in all apartment categories ranking as Manhattan's lowest last month. The study did not include Washington Heights and Inwood, however, where rents are often lower.

Despite Harlem's steep year-over-year price drops, other Manhattan neighborhoods saw even bigger declines. The biggest drop was the East Village, where rents have fallen by 22.5 percent since last Janaury.

See the full Manhattan Rental Market Report here.

Patch reporter Anna Quinn contributed.