Average Rent in Governors Island, NY (2026)
The average 1-bedroom rent in Governors Island, NY is $3,270/month as of 2026, based on HUD data across 1 ZIP codes. Rents have changed +3.7% year over year. Rents range from $3,270 to $3,270.
Average Rent · 1-Bedroom
$3,270/mo
Source: HUD Fair Market Rent · 1 zip codes
Year-over-Year
↑ +3.7%
Source: Apartment List, Zillow ZORI, HUD Fair Market Rent
Data through
The average 1-bedroom rent in Governors Island, NY is $3,270/month according to HUD FY2026 Fair Market Rent data, covering 1 ZIP codes. Rents have increased 3.7% year-over-year. The average 1-bedroom rent in Governors Island is 173% above the national average of $1,196/month.
Average rent in Governors Island, NY ranges from $3,270 to $3,270 across 1 ZIP codes.
Based on local market data, a fair rent increase in Governors Island, NY is approximately 3.7% for 2026. An increase above 3.7% exceeds the local market trend and may be worth negotiating.
Key Facts
Sources: Apartment List, Zillow ZORI, HUD Fair Market Rent, HUD SAFMR, Rentcast. Updated February 2026.
How much is rent in Governors Island, NY?
The average 1-bedroom rent in Governors Island, NY is $3,270/month as of 2026, based on HUD data across 1 ZIP codes. Rents across Governors Island are relatively uniform, clustering around $3,270/month. To afford this at the 30% rule, a household would need approximately $130,800/year.
Is rent going up in Governors Island?
Rents in Governors Island have increased 3.7% year over year based on local market data. This suggests a relatively stable rental market.
What is a fair rent increase in Governors Island?
Based on local market data, a rent increase around 3.7% is in line with the Governors Island market for 2026. An increase above that level exceeds the local trend and may be worth pushing back on. Check your specific increase with RenewalReply's free rent analysis tool.
Rent Trends in Governors Island
+3.7%
Rents in Governors Island are rising at +3.7% year-over-year.
− Estimated trend
Market sources range from -1.5% to +6.8%
Why the range? Zillow ZORI tracks what landlords are asking for units (+6.8%), while Apartment List tracks what renters actually sign leases at (+2.8%).Landlords are asking more than renters are paying — this suggests renters may have negotiating leverage in Governors Island right now.
Sources: Apartment List, Zillow ZORI, HUD Fair Market Rent
What Should Rent Cost in Governors Island?
Typical rent ranges based on HUD benchmarks and market data. In areas with limited listing data, ranges reflect federal benchmarks and may be wider than actual market conditions.
A studio in Governors Island typically rents for $3,120 – $3,588.
Rents above $4,126 are in the top 25% for this area.
A 1-bedroom in Governors Island typically rents for $3,270 – $3,532.
Rents above $4,062 are in the top 25% for this area.
A 2-bedroom in Governors Island typically rents for $3,590 – $4,129.
Rents above $4,748 are in the top 25% for this area.
A 3-bedroom in Governors Island typically rents for $4,500 – $5,175.
Rents above $5,951 are in the top 25% for this area.
A 4-bedroom in Governors Island typically rents for $4,880 – $5,612.
Rents above $6,454 are in the top 25% for this area.
Federal Rent Benchmarks for Governors Island
HUD Fair Market Rents are federal rent benchmarks published annually by HUD. They provide a consistent baseline for comparing rents across areas.
Studio
$3,120
HUD Fair Market Rent
1-Bedroom
$3,270
HUD Fair Market Rent
2-Bedroom
$3,590
HUD Fair Market Rent
3-Bedroom
$4,500
HUD Fair Market Rent
4-Bedroom
$4,880
HUD Fair Market Rent
Source: HUD SAFMR FY2026 · Updated
Zip Codes in Governors Island
Click any zip code for detailed rent data including zip-specific SAFMR rates, nearby comparables, and a free rent increase check.
HUD publishes a single Fair Market Rent for the entire New York, NY HUD Metro FMR Area metro area. For zip-level variation, the tool uses additional data sources including real-time comparable listings and local market indices.
All zip codes in Governors Island share the same county-level HUD Fair Market Rent ($3,270 for 1-BR). Click any zip for SAFMR-specific rates.
County-level FMR shown in city summary above.
How Does Governors Island Compare?
Questions about rent in Governors Island
What is the average 1-bedroom rent in Governors Island, NY?
The average 1-bedroom fair market rent in Governors Island, NY is $3,270/month as of 2026, based on HUD rent data across 1 ZIP codes in the city. This is 173% above the national average of $1,196/month. Rents range from $3,270 to $3,270 depending on ZIP code.
What is a fair rent increase in Governors Island?
A rent increase up to about 3.7% is broadly in line with the recent market trend in Governors Island. Increases above that level are above trend and should be tested against neighborhood-level pricing and comparable rentals. The current average 1-BR rent is $3,270/month.
Are rents going up or down in Governors Island?
Rents in Governors Island have increased 3.7% year over year based on local market data. This reflects local market conditions across 1 ZIP codes in the New York, NY HUD Metro FMR Area area.
How much do rents vary across Governors Island?
1-bedroom rents across Governors Island range from $3,270 to $3,270 on this page, a $0/month spread. This shows that rent can vary materially across ZIP codes within the same city, reflecting neighborhood-level differences in housing stock and demand.
Can my landlord raise my rent in Governors Island?
We could not identify a city-specific rent cap for Governors Island. Landlords must still follow applicable state and local notice rules before raising rent at lease renewal. Requirements vary — check your state's landlord-tenant statute for specifics on notice periods and timing.
How much should I spend on rent in Governors Island?
The general guideline is to spend no more than 30% of your gross income on rent. With average 1-bedroom rent in Governors Island at $3,270/month, a household would need approximately $130,800/year in gross income to afford this comfortably. Many renters in high-cost areas spend above this threshold — our free tool can help you assess whether your specific rent is fair for your ZIP code.
Renting in Governors Island, NY? Your rent could be building your credit.
Report your monthly rent payments to all 3 credit bureaus — the same ones your next landlord will check. Takes 2 minutes to set up.
RenewalReply may earn a commission at no cost to you. Learn more
Renters insurance from $5/mo
Protect your belongings from theft, fire, and water damage. Takes 2 minutes and most landlords require it.
RenewalReply may earn a commission at no cost to you. Learn more
Renter Tools
Browse Governors Island ZIP Codes
See rent data by ZIP code in this city.
Renter Guides
- How to Negotiate a Rent Increase →
A data-driven guide with free email templates for pushing back on your landlord.
- Rent Increase Laws in New York →
See notice rules, caps, and tenant protections in New York.
- What Should I Pay for Rent? →
How to compare rent prices and know if you're getting a fair deal.
Market data updated monthly from public and third-party sources. Actual rents vary by unit, building, and lease terms. For informational purposes only — not legal or financial advice. See methodology →