The average price for residential real estate in Manhattan, New York increased for luxury, new developments, and condos. Conversely, prices for re-sale and co-op properties declined slightly. In the third quarter of 2024, the average square footage price for a re-sale property was ***** U.S. dollars per square foot.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Manhattan, KS (CBSA) (MEDLISPRIPERSQUFEE31740) from Jul 2016 to Jul 2025 about Manhattan, KS, square feet, listing, median, price, and USA.

Between 2020 and 2022, the average square footage price of one-to-three family homes in Queens, New York increased. Existing condo prices, on the other hand, fell from ***** U.S. dollars per square foot in the ********************* to *** U.S. dollars per square foot in the *********************.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in New York-Newark-Jersey City, NY-NJ-PA (CBSA) (MEDLISPRIPERSQUFEE35620) from Jul 2016 to Jul 2025 about square feet, NJ, New York, PA, NY, listing, median, price, and USA.

The average asking rent for Class A office space in Midtown Manhattan was ***** U.S. dollars per square foot in the first quarter of 2024. It was above the Manhattan average of ***** U.S. dollars, but below that of Midtown South, which was the most expensive district at ****** U.S. dollars per square foot. What is Class A real estate?Class A real estate refers to the best properties in terms of appearance, age, quality of infrastructure and location. These properties usually command the highest rental rates, due to their high quality. In the U.S., Manhattan has the most expensive rents for Class A offices.Midtown vs Midtown SouthMidtown Manhattan contains the Empire State Building, MoMA, Grand Central Station, and the United Nations Headquarters. The most expensive submarket there was Plaza District in 2024. Meanwhile, Midtown South is home to Madison Square Garden, Pennsylvania Station, Hudson Yards, and Koreatown. In 2024, the most expensive submarket there was Hudson Yards, followed by Chelsea and Hudson Square.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in New York (MEDLISPRIPERSQUFEENY) from Jul 2016 to Jul 2025 about square feet, NY, listing, median, price, and USA.

The average Class B asking rent for office real estate in Manhattan in the fourth quarter of 2023 was ***** U.S. dollars per square foot. The district that reported the highest average Class B rent was Midtown South, where a square foot of space cost ***** U.S. dollars. Between the fourth quarter of 2022 and the fourth quarter of 2023, rents in Midtown South increased, while in Midtown and Downtown, they declined.

Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Manhattan, KS (CBSA) was 10.26% in May of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Manhattan, KS (CBSA) reached a record high of 21.63 in June of 2022 and a record low of -5.99 in November of 2017. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Manhattan, KS (CBSA) - last updated from the United States Federal Reserve on July of 2025.

The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting ****** U.S. dollars per square foot in 2024. In 2024, the average sales price of a new home exceeded ******* U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly ** percent year-on-year, and in 2022, the increase was even higher, at close to ** percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under ***** percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.

Housing Inventory: Median Listing Price per Square Feet Month-Over-Month in Manhattan, KS (CBSA) was -1.32% in May of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Listing Price per Square Feet Month-Over-Month in Manhattan, KS (CBSA) reached a record high of 16.08 in February of 2022 and a record low of -4.33 in September of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Listing Price per Square Feet Month-Over-Month in Manhattan, KS (CBSA) - last updated from the United States Federal Reserve on July of 2025.

Home of the New York Stock Exchange, Times Square, the Theater District, and countless other landmarks, Manhattan is undoubtedly among the most expensive commercial real estate markets in the United States. On 5th Ave (49th St. - 59th St.), the annual asking rent of retail space reached ***** U.S. dollars per square foot in the first half of 2023. Broadway & 7th Ave (42nd St. - 47th St.) had the second highest rent among Manhattan corridors, with a median asking rent of *** U.S. dollars.

Housing Inventory: Median Listing Price per Square Feet in Manhattan, KS (CBSA) was 136.00000 U.S. $ in May of 2025, according to the United States Federal Reserve. Historically, Housing Inventory: Median Listing Price per Square Feet in Manhattan, KS (CBSA) reached a record high of 138.00000 in February of 2025 and a record low of 83.00000 in January of 2018. Trading Economics provides the current actual value, an historical data chart and related indicators for Housing Inventory: Median Listing Price per Square Feet in Manhattan, KS (CBSA) - last updated from the United States Federal Reserve on July of 2025.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet in Riley County, KS (MEDLISPRIPERSQUFEE20161) from Jul 2016 to Jul 2025 about Riley County, KS; Manhattan; KS; square feet; listing; median; price; and USA.

Manhattan, NY, was the market where renting an office was most expensive in the United States in 2023. The average annual quoted square footage rent of office space was close to ** U.S. dollars in the fourth quarter of the year. Only one other market - East Bay - came close to this rental rate. In Washington D.C., the market with the second-largest inventory of class A downtown offices, the annual rent amounted to approximately ** U.S. dollars per square foot. Since the onset of the coronavirus pandemic, the office real estate sector has been suffering an increase in office vacancies, affecting both downtown and suburban properties.

In 2024, the average square footage price of condos and new development condos in Brooklyn, NY declined slightly. Prices of one-to-three family homes, on the other hand, increased from *** U.S. dollars per square foot in the third quarter of 2023 to *** U.S. dollars in the third quarter of 2024.

The amount of office space in Midtown Manhattan amounted to ***** million square feet in the first quarter of 2024. This was the largest district in terms of office inventory, followed by Midtown South and Downtown Manhattan. Importance of New York for office spaceManhattan is the most famous borough of New York City, and is home to the headquarters of many international organizations as well as multinational corporations, such as the United Nations, Citi and Pfizer. The borough is also located on an island in the middle of the city, which means that the volume of space is limited in supply and that real estate is in high demand there. Asking rents in the borough are, consequently, very high. Availability of office spaceThe availability rate of office space in Manhattan varies between the districts, but is almost ** percent on average. This means that roughly ** percent of total rentable space is available.

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Context

The Department of Finance (DOF) is required by NY State law to value condominiums or cooperatives as if they were residential rental apartment buildings. DOF uses income information from rental properties similar in physical features and location to the condominiums or cooperatives. DOF applies this income data to the condominium or cooperative to determine its value in the same way DOF values rental apartment buildings. This report includes information at a condominium suffix level which represents a subdivision of the condominium since DOF values condominiums at a suffix level. A condominium may have more than one suffix.

Content

This data set contains the reports from 2012-2018. Boro-Block-Lot
The Borough-Block-Lot location of the subject condominium. The lot identifies the condominium billing lot generally associated with the condominium management organization. Address The Street Address of the property Neighborhood
Department of Finance determines the neighborhood name in the course of valuing properties. The common name of the neighborhood is generally the same as the name Finance designates. However, there may be slight differences in neighborhood boundary lines. Building Classification The Building Class code is used to describe a property’s use. This report includes the two character code as well as the description of the building class. Total Units Total number of units in the building Year Built
The year the building was built Gross SqFt
Gross square footage of the building Estimated Gross Income
Estimated Income per SquareFoot * Gross SquareFoot Estimated Expense Estimated Expense per SquareFoot * Gross SquareFoot Net Operating Income Estimated Gross Income-Estimated Expense Full Market Value Current year’s total market value of the land and building Report Year

Acknowledgements

Agency: Department of Finance (DOF) Source: NYC open data

The average Class B asking rent for office real estate in Midtown, Manhattan in the fourth quarter of 2023 varied by submarket. Columbus circle had the highest average Class B rent of ***** U.S. dollars per square foot, while Times Square had the lowest rate of ***** U.S. dollars per square foot. The average class B asking rent in Midtown was ***** U.S. dollars in that quarter.

The average Class A asking rent for office real estate in Downtown Manhattan in the fourth quarter of 2023 varied significantly among submarkets. Tribeca had the highest average Class A rent of ****** U.S. dollars per square foot. Renting a square foot of Class A property in Tribeca cost more than double the cost in all the other submarkets in Downtown Manhattan. Meanwhile, the Insurance District was the only district where Class A office rents rose between 2022 and 2023.

The average asking rent for office space in Midtown Manhattan in the fourth quarter of 2023 was highest in the Plaza District. The square foot of space cost 93.3 U.S. dollars to rent in that quarter. The cheapest submarket to rent office space was Columbus Circle, where a square foot cost 68.32 U.S. dollars. Times Square was the only district where the average rent rose between the fourth quarter of 2022 and the fourth quarter of 2023.