Inwood Has Cheapest Asking Rent In Manhattan: Data Shows

INWOOD, NY — As rents have continued to shoot upward in New York City in 2022, apartments in Inwood have the most affordable asking prices of any neighborhood in Manhattan, a new report shows.

The new report broke down the NYC housing market for May of 2022. On a positive note, the number of available rentals throughout the city is starting to climb for the first time in 18 months, meaning that there should be fewer crowded open houses and bidding wars.

While Inwood's asking rent price was the cheapest in Manhattan, it still was up from May of 2021, when the NYC real estate market hit record low prices.

The median asking rent for Inwood in May 2022 was $2,150, up 16 percent from the year before.

"So while supply (available apartments) is increasing, it has not increased fast enough to meet demand, and prices have continued to rise," StreetEasy wrote in its report.

Here's more information for the Inwood real estate market during May.

• Median Asking Price: $472,500
• Median Asking Price YoY Change: +5.20 percent
• Median Asking Rent: $2,150
• Median Asking Rent YoY Change: +16.20 percent

The next most affordable Manhattan neighborhood was nearby Washington Heights, which had a median asking rent of $2,400.

The prices don't come close to the top of the Manhattan real estate market.

At the top of the list, brokers for buildings along Central Park South and in Tribeca are asking for rent payments over $8,000.

You can check out the full StreetEasy report on its website.