BROOKLYN RENTAL MARKET REPORT
April 2019 TABLE OF CONTENTS
03 Introduction 04 A Quick Look 05 Mean Brooklyn Rental Prices 10 Brooklyn Price Trends 11 Neighborhood Price Trends
11 Bay Ridge 12 Bedford-Stuyvesant 13 Boerum Hill 14 Brooklyn Heights 15 Bushwick 16 Clinton Hill 17 Cobble Hill 18 Crown Heights 19 Downtown Brooklyn 20 Dumbo 21 Fort Greene 2 2 Greenpoint 2 3 Park Slope 2 4 Prospect-Lefferts Gardens 2 5 Williamsburg
26The Report Explained
PAGE 2
Brooklyn Market Report | April 2019 MNS.COM INTRODUCTION
Over the last month, the average rental price in Brooklyn increased by 1.85%, from $2,863.78 to $2,916.75.
PAGE 3
Brooklyn Rental Market Report | April 2019 MNS.COM A QUICK LOOK
Over the last month, the average rental price in Brooklyn increased by 1.85%, from $2,863.78 to $2,916.75. The average rental price for a studio unit increased by 0.27%, from $2,281.96 to $2,288.17. The average rental price for a one-bedroom unit increased by 2.54%, from $2,782.38 to $2,852.98. The average rental price for a two-bedroom unit increased by 2.33%, from $3,526.99 to $3,609.09. Year-over-year rental prices are up across-the-board, with studio, one-bedroom, and two-bedroom prices increasing by 2.92%, 6.93%, and 3.89%, respectively.
Over the last month, only three out of the fifteen neighborhoods tracked by this report experienced overall rental price contractions: Boerum Hill (-0.28%), Cobble Hill (-1.72%), and DUMBO (-2.76%). Out of all unit types, one-bedroom performed the best on a by-neighborhood basis, with pricing falling in only two neighborhoods: Bay Ridge (-0.1%) and DUMBO (-3.0%). Over the last month, the most affordable rental units were all found in Bay Ridge, while the most expensive rental units were in DUMBO.
Over the last few months, Greenpoint has emerged as a place to be for both developers and renters alike. As the Greenpoint Landing continues to inch towards completion, we can already see the effects these developments and other similar ones are having on the area, with overall rental pricing up 8.63% from this time last year. Additionally, these new developments are creating a streetscape in an area previously controlled by industrial spaces, injecting life into an area devoid of residential culture.
NOTABLE TRENDS BUILDING (AVERAGE PRICES)
TYPE MOST EXPENSIVE LEAST EXPENSIVE
Studios Dumbo $3,107 Bay Ridge $1,473 One-Bedrooms Dumbo $4,306 Bay Ridge $1,760 Two-Bedrooms Dumbo $5,489 Bay Ridge $2,278
PAGE 4
Brooklyn Market Report | April 2019 MNS.COM A QUICK LOOK STUDIOS
AVERAGE UNIT PRICES GREATEST CHANGES BY NEIGHBORHOOD SINCE MARCH
$2,541 Greenpoint 7.0% ( $160) Clinton Hill $2,248
Fort Greene $2,504 $2,771 Williamsburg COBBLE HILL Downtown Brooklyn $2,835 STUDIO PRICES Dumbo $3,107 $2,205 Brooklyn Heights $2,501 Bushwick
Cobble Hill $2,140 $1,910 Bed-Stuy Boerum Hill $2,072
$2,272 $1,974 Park Slope Crown Heights
$1,771 Prospect Lefferts Garden
$1,473 Bay Ridge
AVERAGE PRICE $2,288 BROOKLYN STUDIOS
PAGE 5
Brooklyn Rental Market Report | April 2019 MNS.COM A QUICK LOOK ONE-BEDROOMS
AVERAGE UNIT PRICES GREATEST CHANGES BY NEIGHBORHOOD SINCE MARCH
$2,877 Greenpoint 11.7% ( $309) Clinton Hill $2,939
Fort Greene $3,216 $3,154 CLINTON HILL Williamsburg Downtown Brooklyn $3,484 ONE-BEDROOM Dumbo $4,306 PRICES $2,451 Brooklyn Heights $3,480 Bushwick
Cobble Hill $2,998 $2,210 Bed-Stuy Boerum Hill $2,866
$2,753 $2,240 Park Slope Crown Heights
$2,062 Prospect Lefferts Garden
$1,760 Bay Ridge
AVERAGE PRICE BROOKLYN $2,853 ONE-BEDROOMS
PAGE 6
Brooklyn Market Report | April 2019 MNS.COM A QUICK LOOK TWO-BEDROOMS
AVERAGE UNIT PRICES GREATEST CHANGES BY NEIGHBORHOOD SINCE MARCH
$3,359 Greenpoint 12.6% ( $486) Clinton Hill $3,512
Fort Greene $4,352 $3,669 FORT GREENE Williamsburg Downtown Brooklyn $4,642 TWO-BEDROOM Dumbo $5,489 PRICES $2,572 Brooklyn Heights $5,291 Bushwick
Cobble Hill $3,643 $2,574 Bed-Stuy Boerum Hill $4,279
$3,391 $2,589 Park Slope Crown Heights
$2,496 Prospect Lefferts Garden
$2,278 Bay Ridge
AVERAGE PRICE BROOKLYN $3,609 TWO-BEDROOMS
PAGE 7
Brooklyn Rental Market Report | April 2019 MNS.COM A QUICK LOOK
YEAR OVER YEAR PRICE CHANGE > 5.5% CHANGE BY NEIGHBORHOOD 2% - 5.5% CHANGE
< 2% CHANGE 8.63% Greenpoint Clinton Hill: 7.57% Fort Greene: 4.98% Williamsburg Downtown Brooklyn: 6.05% 6.77% DUMBO: -5.77% Bushwick Brooklyn Heights: 10.80% 9.26%
Cobble Hill: 2.65% Bed-Stuy 5.43% Boerum Hill: 5.99%
4.84% Crown Heights 1.89% Park Slope
1.75% PLG
Bay Ridge 2.16%
BROOKLYN RENTS: APRIL 2018 VS. APRIL 2019
TYPE APR 2018 APR 2019 CHANGE
Studios $ 2,223 $ 2,288 2.92%
One-Bedrooms $ 2,668 $ 2,853 6.93%
Two-Bedrooms $ 3,474 $ 3,609 3.89%
PAGE 8
Brooklyn Market Report | April 2019 MNS.COM A QUICK LOOK
WHERE PRICES DECREASED (MONTHLY)
BAY RIDGE COBBLE HILL One bedroom -0.1% Studios -7.0% Two Bedroom -0.4% Two Bedroom -1.2%
BED STUY DUMBO Studios -0.2% Studios -3.1% One Bedroom -3.0% BOERUM HILL Two Bedroom -2.4% Studios -6.9% GREENPOINT BROOKLYN HEIGHTS Studios -1.9% Studios -2.0%
BUSHWICK Two Bedroom -0.2%
WHERE PRICES INCREASED (MONTHLY)
BAY RIDGE COBBLE HILL PARK SLOPE Studios 0.8% One Bedroom 1.7% Studios 3.1% One Bedroom 2.4% BED STUY CROWN HEIGHTS Two Bedroom 0.1% One Bedroom 1.4% Studios 5.9% Two Bedroom 0.5% One Bedroom 1.4% PLG Two Bedroom 0.5% Studios 6.8% BOERUM HILL One Bedroom 5.1% One Bedroom 0.5% DOWNTOWN BK Two Bedroom 2.9% Two Bedroom 2.7% Studios 1.8% One Bedroom 2.1% WILLIAMSBURG BROOKLYN HEIGHTS Two Bedroom 3.1% Studios 4.0% One Bedroom 2.1% One Bedroom 3.5% Two Bedroom 0.6% FORT GREENE Two Bedroom 3.6% BUSHWICK Studios 1.9% Studios 4.6% One Bedroom 6.0% One Bedroom 1.6% Two Bedroom 12.6%
CLINTON HILL GREENPOINT Studios 0.4% One Bedroom 4.3% One Bedroom 11.7% Two Bedroom 5.4% Two Bedroom 7.6% PAGE 9
Brooklyn Rental Market Report | April 2019 MNS.COM BROOKLYN PRICE TRENDS
BROOKLYN STUDIO PRICE TRENDS
2,500
2,380
2,260
2,140
2,020
1,900 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,223 2,230 2,217 2,199 2,238 2,275 2,254 2,268 2,246 2,226 2,223 2,282 2,288
BROOKLYN ONE- BEDROOM PRICE TRENDS
3,000
2,900
2,800
2,700
2,600
2,500 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,668 2,695 2,735 2,756 2,766 2,702 2,701 2,691 2,669 2,672 2,722 2,782 2,853
BROOKLYN TWO- BEDROOM PRICE TRENDS 3,750
3,600
3,450
3,300
3,150
3,000 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 3,474 3,546 3,542 3,567 3,561 3,587 3,515 3,432 3,457 3,449 3,503 3,527 3,609
PAGE 10
Brooklyn Market Report | April 2019 MNS.COM BAY RIDGE
Over the last month, the average rental price in Bay Ridge remained stable, increasing by just 0.03%.
BAY RIDGE STUDIO PRICE TRENDS
1,750
1,600
1,450
1,300
1,150
1,000 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 1,403 1,450 1,455 1,403 1,472 1,542 1,563 1,439 1,431 1,477 1,440 1,462 1,473
BAY RIDGE ONE- BEDROOM PRICE TRENDS
2,000
1,880
1,760
1,640
1,520
1,400 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 1,779 1,746 1,740 1,736 1,783 1,767 1,764 1,764 1,769 1,757 1,785 1,761 1,760
BAY RIDGE TWO- BEDROOM PRICE TRENDS
2,800
2,560
2,320
2,080
1,840
1,600 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,213 2,249 2,311 2,269 2,282 2,273 2,224 2,254 2,220 2,240 2,198 2,286 2,278
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Brooklyn Rental Market Report | April 2019 MNS.COM BEDFORD-STUYVESANT
During April, the average rental price in Bedford-Stuyvesant increased by 0.60%.
BEDFORD- STUYVESANT STUDIO PRICE TRENDS 2,200
2,050
1,900
1,750
1,600
1,450 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 1,791 1,788 1,783 1,954 1,958 1,965 1,985 2,013 1,935 1,924 1,897 1,913 1,910
BEDFORD- STUYVESANT ONE- BEDROOM PRICE TRENDS
2,400
2,300
2,200
2,100
2,000
1,900 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,149 2,166 2,221 2,173 2,216 2,232 2,190 2,188 2,206 2,168 2,166 2,178 2,210
BEDFORD- STUYVESANT TWO- BEDROOM PRICE TRENDS
2,850
2,700
2,550
2,400
2,250
2,100 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,409 2,452 2,459 2,495 2,560 2,577 2,563 2,522 2,512 2,496 2,537 2,562 2,574
PAGE 12
Brooklyn Market Report | April 2019 MNS.COM BOERUM HILL
Following two months of increases, the average rental price in Boerum Hill experienced a slight correction of 0.28% during April.
BOERUM HILL STUDIO PRICE TRENDS 3,000
2,700
2,400
2,100
1,800
1,500 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,226 2,419 2,374 2,144 2,210 2,205 1,900 2,036 2,158 2,174 2,311 2,226 2,072
BOERUM HILL ONE- BEDROOM PRICE TRENDS
3,350
3,100
2,850
2,600
2,350
2,100 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,778 2,875 2,890 2,823 2,817 2,834 2,716 2,615 2,642 2,657 2,811 2,850 2,866
BOERUM HILL TWO- BEDROOM PRICE TRENDS
5,000
4,500
4,000
3,500
3,000
2,500 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 3,692 3,796 3,833 4,065 4,065 3,971 3,735 3,684 3,619 3,620 3,538 4,166 4,279
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Brooklyn Rental Market Report | April 2019 MNS.COM BROOKLYN HEIGHTS
The average rental price in Brooklyn Heights grew by just 0.49% during April.
BROOKLYN HEIGHTS STUDIO PRICE TRENDS
2,900
2,650
2,400
2,150
1,900
1,650
APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,298 2,272 2,366 2,210 2,275 2,246 2,345 2,469 2,466 2,401 2,418 2,552 2,501
BROOKLYN HEIGHTS ONE- BEDROOM PRICE TRENDS
3,900
3,600
3,300
3,000
2,700
2,400 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 3,041 3,106 3,248 3,103 3,153 3,016 3,171 3,259 3,187 3,084 3,150 3,407 3,480
BROOKLYN HEIGHTS TWO- BEDROOM PRICE TRENDS
5,800
5,400
5,000
4,600
4,200
3,800 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 4,835 4,719 4,896 4,978 5,008 5,105 5,032 4,547 4,707 4,643 5,336 5,257 5,291
PAGE 14
Brooklyn Market Report | April 2019 MNS.COM BUSHWICK
Driven by a 4.56% increase in studio rental pricing, the average rental price in Bushwick increased by 1.83% this past month.
BUSHWICK STUDIO PRICE TRENDS
2,500
2,300
2,100
1,900
1,700
1,500 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,108 2,107 2,142 2,145 2,166 2,153 2,140 2,094 2,097 2,074 2,136 2,109 2,205
BUSHWICK ONE- BEDROOM PRICE TRENDS
2,600
2,450
2,300
2,150
2,000
1,850 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,068 2,160 2,187 2,340 2,323 2,345 2,306 2,225 2,247 2,295 2,372 2,414 2,451
BUSHWICK TWO- BEDROOM PRICE TRENDS
2,700
2,600
2,500
2,400
2,300
2,200 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,440 2,485 2,531 2,558 2,567 2,540 2,458 2,459 2,436 2,477 2,539 2,576 2,572
PAGE 15
Brooklyn Rental Market Report | April 2019 MNS.COM CLINTON HILL
Thanks to a decrease in overall inventory along with an increased number of luxury listings, the average rental price in Clinton Hill grew by an impressive 6.96% during April.
CLINTON HILL STUDIO PRICE TRENDS
2,700
2,480
2,260
2,040
1,820
1,600 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,296 2,301 2,224 2,192 2,271 2,298 2,352 2,252 2,146 2,113 2,174 2,239 2,248
CLINTON HILL ONE- BEDROOM PRICE TRENDS
3,000
2,760 F
2,520
2,280
2,040
1,800 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,522 2,541 2,484 2,552 2,539 2,570 2,577 2,501 2,454 2,503 2,538 2,630 2,939
CLINTON HILL TWO- BEDROOM PRICE TRENDS
4,100
3,700
3,300
2,900
2,500
2,100 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 3,270 3,232 3,203 3,299 3,238 3,351 3,203 3,142 3,122 3,205 3,253 3,263 3,512
PAGE 16
Brooklyn Market Report | April 2019 MNS.COM COBBLE HILL
Following last month’s larger-than-average growth, the average rental price in Cobble Hill was left to adjust this past month, experiencing a correction of 1.72%.
COBBLE HILL STUDIO PRICE TRENDS
3,200
2,800
2,400
2,000
1,600
1,200 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,169 2,100 2,180 1,825 1,871 - - 2,200 2,138 2,200 1,900 2,300 2,140
COBBLE HILL ONE- BEDROOM PRICE TRENDS
3,320
3,070
2,820
2,570
2,320
2,070 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,872 2,722 2,904 3,096 3,005 2,849 2,733 2,688 2,717 2,776 2,874 2,947 2,998
COBBLE HILL TWO- BEDROOM PRICE TRENDS
4,750
4,350
3,950
3,550
3,150
2,750 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 3,512 3,886 3,886 3,613 3,736 3,721 3,564 3,634 3,755 3,623 3,591 3,687 3,643
PAGE 17
Brooklyn Rental Market Report | April 2019 MNS.COM CROWN HEIGHTS
Carrying over some momentum from last month, the average rental price in Crown Heights increased by 2.33% during April.
CROWN HEIGHTS STUDIO PRICE TRENDS 2,400
2,160
1,920
1,680
1,440
1,200 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 1,994 1,936 1,901 1,869 1,866 1,908 1,743 1,816 1,821 1,812 1,857 1,863 1,974
CROWN HEIGHTS ONE- BEDROOM PRICE TRENDS
2,700
2,460
2,220
1,980
1,740
1,500 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,212 2,186 2,211 2,227 2,225 2,276 2,184 2,203 2,166 2,143 2,158 2,209 2,240
CROWN HEIGHTS TWO- BEDROOM PRICE TRENDS
2,900
2,700
2,500
2,300
2,100
1,900 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,471 2,544 2,529 2,629 2,550 2,591 2,518 2,430 2,438 2,461 2,534 2,576 2,589
PAGE 18
Brooklyn Market Report | April 2019 MNS.COM DOWNTOWN BROOKLYN
Over the last month, the average rental price in Downtown Brooklyn increased by 2.47%.
DOWNTOWN BROOKLYN STUDIO PRICE TRENDS 3,300
3,060
2,820
2,580
2,340
2,100 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,588 2,674 2,783 2,719 2,790 2,745 2,762 2,684 2,659 2,655 2,734 2,784 2,835
DOWNTOWN BROOKLYN ONE- BEDROOM PRICE TRENDS
3,950
3,700
3,450
3,200
2,950
2,700 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 3,294 3,418 3,465 3,397 3,602 3,473 3,372 3,317 3,319 3,370 3,404 3,413 3,484
DOWNTOWN BROOKLYN TWO- BEDROOM PRICE TRENDS
5,500
5,100
4,700
4,300
3,900
3,500 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 4,454 4,718 4,740 4,833 4,689 4,797 4,575 4,680 4,541 4,464 4,585 4,501 4,642
PAGE 19
Brooklyn Rental Market Report | April 2019 MNS.COM DUMBO
This past month, the average rental price in DUMBO fell by 2.76%.
DUMBO STUDIO PRICE TRENDS 4,200
3,800
3,400
3,000
2,600
2,200 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 3,264 3,102 2,945 3,117 3,196 3,150 3,135 3,350 3,420 3,353 3,256 3,206 3,107
DUMBO ONE- BEDROOM PRICE TRENDS
5,000
4,600
4,200
3,800
3,400
3,000 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 4,018 4,050 4,260 4,297 4,141 3,924 4,136 4,300 4,141 4,233 4,364 4,439 4,306
DUMBO TWO- BEDROOM PRICE TRENDS
7,500
6,900
6,300
5,700
5,100
4,500 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 6,410 6,486 6,045 5,893 6,146 6,299 6,644 5,973 6,331 6,123 6,045 5,623 5,489
PAGE 20
Brooklyn Market Report | April 2019 MNS.COM FORT GREENE
Thanks to a large number of luxury listings being introduced to the market, the average rental price in Fort Greene increased by an impressive 7.63% during April.
FORT GREENE STUDIO PRICE TRENDS
2,900
2,700
2,500
2,300
2,100
1,900 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,489 2,483 2,267 2,545 2,578 2,668 2,642 2,567 2,572 2,445 2,353 2,458 2,504
FORT GREENE ONE- BEDROOM PRICE TRENDS
3,600
3,400
3,200
3,000
2,800
2,600 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 3,138 3,115 3,116 3,169 3,170 3,019 3,078 3,167 3,092 2,988 2,975 3,033 3,216
FORT GREENE TWO- BEDROOM PRICE TRENDS
5,000
4,500
4,000
3,500
3,000
2,500 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 3,967 4,094 4,035 4,191 4,013 4,035 3,788 4,017 3,919 3,967 3,880 3,866 4,352
PAGE 21
Brooklyn Rental Market Report | April 2019 MNS.COM GREENPOINT
Over the last month, the average rental price in Greenpoint increased by 2.83%. As more and more luxury units come onto the market in Greenpoint, average rental rates can be expected to adjust accordingly.
GREENPOINT STUDIO PRICE TRENDS
3,200
2,900
2,600
2,300
2,000
1,700 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,406 2,386 2,440 2,423 2,397 2,308 2,520 2,474 2,363 2,310 2,402 2,590 2,541
GREENPOINT ONE- BEDROOM PRICE TRENDS
3,200
3,000
2,800
2,600
2,400
2,200 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,548 2,592 2,609 2,692 2,736 2,613 2,596 2,561 2,537 2,580 2,697 2,757 2,877
GREENPOINT TWO- BEDROOM PRICE TRENDS
3,650
3,400
3,150
2,900
2,650
2,400 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 3,125 3,242 3,217 3,251 3,177 3,145 2,997 3,000 3,047 3,085 3,159 3,187 3,359
PAGE 22
Brooklyn Market Report | April 2019 MNS.COM PARK SLOPE
This past month, the average rental price in Park Slope increased by 1.65%.
PARK SLOPE STUDIO PRICE TRENDS
2,700
2,450
2,200
1,950
1,700
1,450 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,088 2,146 2,119 2,140 2,104 2,154 2,127 2,251 2,187 2,179 2,212 2,203 2,272
PARK SLOPE ONE- BEDROOM PRICE TRENDS 3,000
2,800
2,600
2,400
2,200
2,000 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,597 2,696 2,628 2,679 2,709 2,674 2,774 2,713 2,699 2,635 2,652 2,688 2,753
PARK SLOPE TWO- BEDROOM PRICE TRENDS
3,850
3,600
3,350
3,100
2,850
2,600 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 3,342 3,261 3,408 3,322 3,350 3,402 3,428 3,274 3,356 3,371 3,326 3,389 3,391
PAGE 23
Brooklyn Rental Market Report | April 2019 MNS.COM PROSPECT-LEFFERTS GARDENS
Driven by an increase in luxury inventory, the average rental price in Prospect Lefferts Gardens increased by 4.67% during April.
PROSPECT LEFFERTS GARDEN STUDIO PRICE TRENDS 2,250
2,000
1,750
1,500
1,250
1,000 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 1,698 1,663 1,714 1,734 1,874 1,892 1,823 1,841 1,736 1,698 1,659 1,659 1,771
PROSPECT LEFFERTS GARDEN ONE- BEDROOM PRICE TRENDS
2,500
2,250
2,000
1,750
1,500
1,250 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,041 2,089 2,077 2,118 2,167 2,042 2,023 1,941 1,940 1,944 1,918 1,962 2,062
PROSPECT LEFFERTS GARDEN TWO- BEDROOM PRICE TRENDS
3,200
2,900
2,600
2,300
2,000
1,700 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,482 2,525 2,547 2,639 2,643 2,577 2,536 2,517 2,441 2,454 2,447 2,426 2,496
PAGE 24
Brooklyn Market Report | April 2019 MNS.COM WILLIAMSBURG
For the fifth month in a row, the average rental price in Williamsburg experienced an increase, this time growing by 3.69%.
WILLIAMSBURG STUDIO PRICE TRENDS
3,500
3,100
2,700
2,300
1,900
1,500 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,530 2,628 2,563 2,561 2,537 2,618 2,519 2,534 2,569 2,579 2,599 2,665 2,771
WILLIAMSBURG ONE- BEDROOM PRICE TRENDS
3,500
3,300
3,100
2,900
2,700
2,500 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 2,967 2,957 2,985 2,944 2,909 2,893 2,899 2,919 2,914 2,941 2,965 3,047 3,154
WILLIAMSBURG TWO- BEDROOM PRICE TRENDS
4,275 4,025 3,775 3,525 3,275 3,025 2,775 APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR 3,487 3,506 3,488 3,471 3,392 3,421 3,459 3,344 3,409 3,505 3,571 3,541 3,669
PAGE 25
Brooklyn Rental Market Report | April 2019 MNS.COM THE REPORT EXPLAINED
THE BROOKLYN RENTAL MARKET REPORTTM COMPARES FLUCTUATION IN THE BOROUGH’S RENTAL DATA ON A MONTHLY BASIS. IT IS AN ESSENTIAL TOOL FOR POTENTIAL RENTERS SEEKING TRANSPARENCY IN THE BROOKLYN APARTMENT MARKET AND A BENCHMARK FOR LANDLORDS TO EFFCIENTLY AND FAIRLY ADJUST INDIVIDUAL PROPERTY RENTS IN BROOKLYN.
The Brooklyn Rental Market ReportTM is based on a CONTACT US NOW: 718.222.0211 cross-section of data from available listings and priced under $10,000, with ultraluxury property omitted NOTE: All market data is collected and compiled by MNS’s to obtain a true monthly rental average. Our data is marketing department. The information presented here is aggregated from the MNS proprietary database and intended for instructive purposes only and has been gathered sampled from a specifc mid-month point to record from sources deemed reliable, though it may be subject to current rental rates offered by landlords during that errors, omissions, changes or withdrawal without notice. particular month. It is then combined with information from the REBNY Real Estate Listings Source (RLS), If you would like to republish this report on the web, please OnLine Residential (OLR.com) and R.O.L.E.X. (Real be sure to source it as the “Brooklyn Rental Market Report” Plus). with a link back to its original location.
AUTHOR: MNS has been helping Brooklyn landlords HTTP:// WWW.MNS.COM/ BROOKLYN_RENTAL_ and renters navigate the rental market since 1999. MARKET_REPORT From large companies to individuals, MNS tailors services to meet your needs. Contact us today to see how we can help.
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Brooklyn Market Report | April 2019 MNS.COM