While New York City has the most expensive rental housing market in the Empire State, White Plains’ rents represent the highest beyond the Big Apple.
According to a RENTCafé analysis of New York state rents in May outside of the five boroughs, White Plains topped the state with an average monthly rent of $2,792. Other regional cities at the top of the RENTCafé list were third-ranked New Rochelle at an average rent of $2,113, fourth-ranked Yonkers at $2,026 and eighth-ranked Poughkeepsie at $1,435. The lowest average rent among the state’s localities was in Erie County’s Cheektowaga, with an average apartment rent of $860.
And while the Westchester rents might cause apprehension with some potential renters, these represent affordable housing compared with Manhattan’s average rent of $4,200, which RENTCafé identified as the nation’s highest in May among the major renter hubs. In comparison, second-ranked renter hub Los Angeles carried an average rent of $2,478.
RENTCafe.com is a nationwide apartment search website. The data on average rents included in its reports come directly from “competitively rented (market-rate) large-scale multifamily properties (50-plus units in size), via telephone survey.”
The data is compiled and reported by sister company Yardi Matrix, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors.