Net Effective Rent Calculator
Many NYC listings advertise “net effective rent” — the gross rent averaged down over a free-month concession. This calculator shows both numbers: what you’ll actually write a check for each month (gross rent), and the marketed net effective figure, so you know exactly what you’re comparing.
See all our calculators for the rest of the NYC renting and buying picture.
Glossary
Gross rent is the actual monthly check you write during the months you’re paying. Net effective rent spreads any free-month concession evenly across the whole lease term, producing a lower “average” number that’s often what’s advertised in a listing.
A lower advertised number attracts more inquiries, and a free-month concession lets a landlord avoid formally lowering the gross rent on record (which can affect comps, rent stabilization calculations, or future renewal baselines in some buildings).
Usually not favorably. Free-month concessions typically apply only to the initial lease term. On renewal, landlords generally reset to the gross rent (or increase from there) — so budget for the gross number as your ongoing cost, not the net effective figure.
No. This calculator covers rent only. Broker fees, security deposits, and move-in costs are separate, one-time expenses not reflected in either the gross or net effective monthly figure.