Michael Bhagwandin

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Rent vs. Buy in the Manhattan Housing Market: What You Need To Know

Rent vs. Buy in the Manhattan Housing Market: What You Need To Know

If you’ve been wondering whether it makes more sense to rent or buy, you’re not alone. In today’s Manhattan Housing Market, this is one of the biggest questions buyers are asking. As a New York City Real Estate Agent, I’m seeing more clients compare long-term ownership costs with rising rental prices across the New York City market.

A recent national study shows that in many parts of the country, owning is now more affordable than renting. But here’s the key: real estate is local. What’s true in the Midwest or South doesn’t always apply directly to New York Real Estate—especially in Manhattan.

What the National Data Shows

According to the study:

The Northeast—where New York falls—is nearly balanced. That tells you something important: affordability here is not black and white. It depends heavily on neighborhood, price point, and long-term plans.

What This Means in Manhattan

In neighborhoods like Chelsea, rental prices remain strong. If you plan to stay for several years, owning can allow you to:

On the Upper West Side, I often see buyers comparing luxury rentals to co-ops or condos with similar monthly costs. In some cases, ownership becomes surprisingly competitive when you factor in tax deductions and equity growth.

Neighborhood-by-Neighborhood Matters

The math looks different in:

Some areas may lean slightly more renter-friendly in the short term. Others make stronger long-term ownership cases—especially if you plan to stay five years or more.

The Bigger Picture: It’s About Your Timeline

Trying to compare national affordability percentages to Manhattan can be misleading. What matters most is:

In many cases, the decision isn’t about whether buying is cheaper this month. It’s about whether owning positions you better over the next 5–10 years.

So… Should You Rent or Buy in 2026?

The headlines don’t give you the full story. The real answer depends on your budget, your neighborhood, and your goals.

If you’re renting in Chelsea, Upper West Side, West Village, Tribeca, SoHo, Gramercy, or Hell’s Kitchen, let’s break down the numbers together and see where you stand in today’s market.

Schedule a call or appointment — or let’s connect.

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Clients appreciate his expertise, as they do his contagious enthusiasm and high energy. Having worked in hospitality, Michael knows that service, integrity and interpersonal charm are key to building business and relationships. Michael is always available to his clients, and strives to make the purchase, sale or luxury condo rental process smooth and rewarding.

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MICHAEL BHAGWANDIN

Phone

(917) 903-3843

Email

[email protected]

Address

5 W 37th St Fl 12 New York, NY 10018

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