How about a real answer for you!
It depends on what you call a 1BR...but your average Doorman 650-750SF Coop can range from about $600K-$850K the lower end would be 1960s (white Brick) buildings in need of work with limited views and the upper range would be prime larger Prewars with Views. Condos would be about $100K higher, even more for the newest higher end buildings with top quality finishes.
Of course there are small walk-ups that can be had under $500K. And fantastic new condo loft 1BRs even over a couple million. But a budget of $650-$750 for a coop and $700-$800 for a condo will get you a very decent nice DM 1BR about now.

hey iwes,

Try out one of the top Rental Websites online (like Rent.com, Appts.com, etc). Here's a tool that can get you started at least, which allows you to Research the Avg. Rental Price in any of the major cities in the U.S.

http://www.rentalhousehunter.com/RENT/cities/Avg-Rental-Pric…

good luck!
truliarenter

How do you know the ave. price for 1 bd in Chelsea? Easy. You either hire a Realtor to represent you or you do your own research. Keep in mind that you need to compare not only the apartment amenities, but the building amenities. Market research also helps for the building, the neighborhood, etc... I provide all this and more, but only for my clients and customers.

Also keep in mind that all the market research in the world may not matter. What matters is whether you can see yourself living in the apartment, in the building, in the neighborhood. Do you feel you can call it your "home"? Buying real estate is as much an emotional decision as it is a financial decision.