BROOKLYN RENTAL MARKET REPORT
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 2 CONTENTS
INTRODUCTION ...... 4
A QUICK LOOK ...... 5
NOTABLE PRICE TRENDS ...... 6
PRICE DECREASE ...... 7
PRICE INCREASE ...... 8
MEAN BROOKLYN RENTAL PRICES...... 9
NEIGHBORHOOD PRICE TRENDS ...... 14
BAY RIDGE...... 15
BEDFORD-STUYVESANT...... 16
BOERUM HILL...... 17
BOROUGH PARK / SUNSET PARK...... 18
BROOKLYN HEIGHTS...... 19
BUSHWICK...... 20
CLINTON HILL...... 21
COBBLE HILL...... 22
CROWN HEIGHTS...... 23
DOWNTOWN BROOKLYN...... 24
DUMBO...... 25
FORT GREENE...... 26
GREENPOINT...... 27
PARK SLOPE...... 28
PROSPECT-LEFFERTS GARDENS...... 29
WILLIAMSBURG...... 30
THE REPORT EXPLAINED...... 31
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 3 AVERAGE RENT THE AVERAGE RENT IN BROOKLYN HAS DECREASED THIS MONTH.
↓2.02% $2,600 $2,547 CHANGE NOVEMBER 2020 DECEMBER 2020
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 4 A QUICK LOOK
Over the last month, the average rental price in Brooklyn has fallen by 2.02%, from $2,599.77 to $2,547.27. The average rental price for a studio unit fell by 1.31%, from $2,060.51 to $2,033.46. The average rental price for a one-bedroom unit fell by 1.31%, from $2,493.16 to $2,460.47. The average rental price for a two-bedroom unit decreased by 3.01%, from $3,245.62 to $3,147.88. Compared to this time last year, rental prices are down across-the-board with studio, one-bedroom, and two-bedroom prices decreasing by 11.51%, 13.26%, and 15.46%, respectively. Overall, average rental pricing in Brooklyn is down 13.73% from this time last year.
This past month, the most expensive rental units by average price were observed in DUMBO. The most affordable studio and one-bedroom units could be found in Bay Ridge, while the most affordable two-bedroom units by were observed in Borough Park/Sunset Park.
Out of the sixteen neighborhoods tracked by this report, only two saw their overall average rental prices increase: Bushwick (+4.0%) and Greenpoint (+0.3%).
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 5 NOTABLE TRENDS
TYPE MOST EXPENSIVE LEAST EXPENSIVE
Studios Dumbo $3,021 Bay Ridge $1,462
One bedrooms Dumbo $3,733 Bay Ridge $1,726
Two bedrooms Dumbo $5,428 Borough/Sunset Park $2,049
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 6 WHERE PRICES DECREASED
BAY RIDGE CLINTON HILL FORT GREENE Studios -3.0% Studios -1.9% One-Bedroom -1.7% Two-Bedroom -3.7% One-Bedroom -4.1% Two-Bedroom -6.2% Two-Bedroom -2.7% BED STUY GREENPOINT Studios -1.7% COBBLE HILL One-Bedroom -0.37% One-Bedroom -2.5% Studio -1.9% Two-Bedroom -1.2% Two-Bedroom -2.6% One-Bedroom -0.3% Two-Bedroom -0.2% PARK SLOPE BOERUM HILL Studios -3.5% Studios -6.8% CROWN HEIGHTS One-Bedroom -0.5% One-Bedroom -3.8% Studios -0.1% Two-Bedroom -2.1% Two-Bedroom -5.8% One-Bedroom -3.6% Two-Bedroom -2.5% PLG/FLATBUSH BOROUGH PARK/SUNSET PARK Studios -0.6% Studios -2.21% DUMBO One-Bedroom -1.1% Two-Bedroom -3.2% Studios -1.0% One-Bedroom -3.5% WILLIAMSBURG BROOKLYN HEIGHTS Two-Bedroom -8.9% Studios -2.7% Studios -2.9% One-Bedroom -1.6% One-Bedroom -1.2% DOWNTOWN BK Two-Bedroom -2.6% Two-Bedroom -1.7% Studios -1.3% Two-Bedroom -1.7%
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 7 WHERE PRICES INCREASED
BAY RIDGE DOWNTOWN BK One-Bedroom 0.3% One-Bedroom 0.4%
BOROUGH PARK/ FORT GREENE SUNSET PARK Studios 1.0% One-Bedroom 0.3% GREENPOINT BUSHWICK Studios 3.1% Studios 4.1% One-Bedroom 4.8% PLG/FLATBUSH Two-Bedroom 3.2% Two-Bedroom 1.1%
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 8 BROOKLYN AVERAGE PRICE
Fort Greene $2,322 $2,366 Greenpoint
Downtown $2,214 Brooklyn $2,493 Williamsburg
Dumbo $3,021 $2,037 Bushwick
Brooklyn $2,006 Heights $1,735 Bed-Stuy
Boerum Hill $2,028 $1,742 Crown Heights
Cobble Hill $2,021 $1,746 PLG/Flatbush
Bay Ridge $1,462 $1,997 Clinton Hill
Borough/ $1,879 Park Slope Sunset Park $1,467
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 9 BROOKLYN AVERAGE PRICE
Fort Greene $2,786 $2,671 Greenpoint
Downtown $2,967 Brooklyn $2,730 Williamsburg
Dumbo $3,733 $2,282 Bushwick
Brooklyn $2,712 Heights $2,066 Bed-Stuy
Boerum Hill $2,622 $1,972 Crown Heights
Cobble Hill $2,552 $1,949 PLG/Flatbush
Bay Ridge $1,726 $2,440 Clinton Hill
Borough/ $1,741 $2,419 Park Slope Sunset Park
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 10 BROOKLYN AVERAGE PRICE
Fort Greene $3,517 $3,057 Greenpoint
Downtown $4,113 Brooklyn $3,100 Williamsburg
Dumbo $5,428 $2,446 Bushwick
Brooklyn $4,469 Heights $2,324 Bed-Stuy
Boerum Hill $3,411 $2,350 Crown Heights
Cobble Hill $3,503 $2,370 PLG/Flatbush
Bay Ridge $2,121 $3,082 Clinton Hill
Borough/ $2,049 $3,025 Park Slope Sunset Park
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 11 A QUICK LOOK CHANGE BY NEIGHBORHOOD
BAY RIDGE ↓ 4.20% CLINTON HILL ↓ 11.29% FORT GREENE ↓ 17.20%
BED STUY ↓ 10.37% COBBLE HILL ↓ 7.97% GREENPOINT ↓ 16.27%
BOERUM HILL ↓ 15.23% CROWN HEIGHTS ↓ 10.82% PARK SLOPE ↓ 13.96%
BOROUGH/SUNSET ↓ 7.05% DOWNTOWN BK ↓ 17.08% PLG/FLATBUSH ↓ 4.10%
BROOKLYN HEIGHTS ↓ 24.13% DUMBO ↓ 10.12% WILLIAMSBURG ↓ 22.90%
BUSHWICK ↓ 10.38%
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 12 PRICE CHANGES BROOKLYN RENTS: DECEMBER 2019 VS. DECEMBER 2020
TYPE DECEMBER 2019 DECEMBER 2020 CHANGE
Studios $2,298 $2,033 ↓ 11.5%
One bedrooms $2,837 $2,460 ↓ 13.3%
Two bedrooms $3,723 $3,148 ↓ 15.4%
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 13 PRICE TRENDS: BROOKLYN
BROOKLYN STUDIO PRICE TRENDS OVER 13 MONTHS 2500 2360 2220 2080 1940 1800 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,298 2,379 2,332 2,325 2,310 2,268 2,248 2,184 2,159 2,106 2,065 2,061 2,033
BROOKLYN ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3200
3000
2800
2600
2400
2200 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,837 2,871 2,861 2,927 2,859 2,846 2,762 2,699 2,625 2,547 2,504 2,493 2,460
BROOKLYN TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 4000
3760
3520
3280
3040
2800 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 3,723 3,700 3,793 3,826 3,742 3,619 3,550 3,507 3,409 3,298 3,239 3,246 3,148
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 14 PRICE TRENDS: BAY RIDGE FOLLOWING A SLIGHT INCREASE LAST MONTH, THE AVERAGE RENTAL PRICE IN BAY RIDGE FELL BY 2.21% THROUGH DECEMBER.
BAY RIDGE STUDIO PRICE TRENDS OVER 13 MONTHS 1850 1700 1550 1400 1250 1100 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 1,446 1,475 1,403 1,552 1,450 1,680 1,594 1,579 1,532 1,539 1,504 1,506 1,462
BAY RIDGE ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 2050
1930
1810
1690
1570
1450 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 1,778 1,746 1,757 1,793 1,802 1,881 1,879 1,849 1,823 1,787 1,744 1,720 1,726
BAY RIDGE TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 2800
2560
2320
2080
1840
1600 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,316 2,313 2,463 2,315 2,486 2,257 2,250 2,194 2,177 2,219 2,171 2,202 2,121
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 15 PRICE TRENDS: BEDFORD-STUYVESANT OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN BEDFORD-STUYVESANT FELL BY 2.31%.
BEDFORD-STUYVESANT STUDIO PRICE TRENDS OVER 13 MONTHS 2500 2300 2100 1900 1700 1500 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 1,867 2,119 2,044 1,975 1,952 1,947 1,964 1,909 1,925 1,914 1,791 1,766 1,735
BEDFORD-STUYVESANT ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 2450
2350
2250
2150
2050
1950 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,303 2,330 2,285 2,358 2,342 2,337 2,262 2,261 2,247 2,155 2,144 2,118 2,066
BEDFORD-STUYVESANT TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 2850
2700
2550
2400
2250
2100 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,664 2,680 2,672 2,637 2,626 2,449 2,559 2,581 2,515 2,459 2,400 2,386 2,324
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 16 PRICE TRENDS: BOERUM HILL THROUGH DECEMBER, THE AVERAGE RENTAL PRICE IN BOERUM HILL FELL BY 5.44%.
BOERUM HILL STUDIO PRICE TRENDS OVER 13 MONTHS 3000 2700 2400 2100 1800 1500 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,590 2,787 2,549 2,554 2,609 2,475 2,421 2,386 2,384 2,256 2,235 2,177 2,028
BOERUM HILL ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3350
3100
2850
2600
2350
2100 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,961 3,023 2,886 3,091 3,029 3,035 2,990 2,854 2,829 2,701 2,748 2,727 2,622
BOERUM HILL TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 5500
4800
4100
3400
2700
2000 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 3,960 3,986 4,268 4,556 4,748 4,394 4,145 4,038 3,963 3,818 3,606 3,621 3,411
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 17 PRICE TRENDS: BOROUGH/SUNSET PARK AFTER A SLIGHT CORRECTION LAST MONTH, THE AVERAGE RENTAL PRICE IN BOROUGH PARK/SUNSET PARK FELL BY AN ADDITIONAL 1.77% THROUGH DECEMBER.
BOROUGH PARK & SUNSET PARK STUDIO PRICE TRENDS OVER 13 MONTHS 1800 1600 1400 1200 1000 800 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 1,631 1,644 1,395 1,405 1,575 1,250 1,400 1,448 1,501 1,404 1,499 1,500 1,467
BOROUGH PARK & SUNSET PARK ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 2200
2000
1800
1600
1400
1200 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 1,868 1,881 1,817 1,870 1,773 1,823 1,854 1,931 1,845 1,786 1,772 1,736 1,741
BOROUGH PARK & SUNSET PARK TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 2600
2250
1900
1550
1200 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,156 2,175 2,098 2,099 2,134 2,098 2,146 2,168 2,183 2,091 2,105 2,115 2,049
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 18 PRICE TRENDS: BROOKLYN HEIGHTS THE AVERAGE RENTAL PRICE IN BROOKLYN HEIGHTS FELL BY 1.80% THROUGH DECEMBER.
BROOKLYN HEIGHTS STUDIO PRICE TRENDS OVER 13 MONTHS 2900 2650 2400 2150 1900 1650 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,631 2,571 2,564 2,526 2,334 2,398 2,349 2,350 2,346 2,221 2,170 2,065 2,006
BROOKLYN HEIGHTS ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3900
3600
3300
3000
2700
2400 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 3,830 3,821 3,750 3,587 3,646 3,351 3,267 3,117 2,995 2,886 2,808 2,744 2,712
BROOKLYN HEIGHTS TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 7000 6300 5600 4900 4200 3500 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 5,648 5,132 5,439 5,501 5,428 5,192 5,094 5,218 5,157 4,799 4,503 4,546 4,469
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 19 PRICE TRENDS: BUSHWICK THANKS TO A SIGNIFICANT INFLUX OF LUXURY INVENTORY IN THE AREA, THE AVERAGE RENTAL PRICE IN BUSHWICK INCREASED BY 3.98% THROUGH DECEMBER. A CORRECTION CAN BE EXPECTED ONCE THE MARKET ADJUSTS TO THE CURRENT INVENTORY.
BUSHWICK STUDIO PRICE TRENDS OVER 13 MONTHS 2600 2400 2200 2000 1800 1600 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,189 2,253 2,271 2,271 2,300 2,130 2,119 2,050 2,041 2,010 1,972 1,957 2,037
BUSHWICK ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 2700
2550
2400
2250
2100
1950 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,549 2,515 2,560 2,555 2,506 2,445 2,354 2,339 2,325 2,231 2,111 2,178 2,282
BUSHWICK TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 3500
3100
2700
2300
1900
1500 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,810 2,873 2,825 2,799 2,721 2,659 2,580 2,601 2,532 2,437 2,366 2,370 2,446
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 20 PRICE TRENDS: CLINTON HILL FOLLOWING A STABLE NOVEMBER, THE AVERAGE RENTAL PRICE IN CLINTON HILL FELL BY 2.95% THROUGH DECEMBER.
CLINTON HILL STUDIO PRICE TRENDS OVER 13 MONTHS 2700 2480 2260 2040 1820 1600 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,121 2,331 2,409 2,322 2,217 2,266 2,230 2,174 2,141 2,119 2,050 2,035 1,997
CLINTON HILL ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3250
3000 F 2750
2500
2250
2000 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,810 2,772 2,768 2,861 2,694 2,795 2,805 2,798 2,745 2,659 2,578 2,546 2,440
CLINTON HILL TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 4200
3800
3400
3000
2600
2200 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 3,545 3,490 3,482 3,580 3,506 3,414 3,596 3,559 3,357 3,223 3,147 3,167 3,082
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 21 PRICE TRENDS: COBBLE HILL THROUGH DECEMBER, THE AVERAGE RENTAL PRICE IN COBBLE HILL INCREASED BY 0.70%.
COBBLE HILL STUDIO PRICE TRENDS OVER 13 MONTHS 3200 2800 2400 2000 1600 1200 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 1,895 2,495 2,125 2,100 2,150 2,295 2,200 1,965 1,997 2,033 2,051 2,062 2,021
COBBLE HILL ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3450
3200
2950
2700
2450
2200 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,939 3,231 3,045 3,156 3,148 3,112 3,084 2,925 2,671 2,627 2,488 2,559 2,552
COBBLE HILL TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 5000
4500
4000
3500
3000
2500 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 3,941 4,098 4,579 4,385 4,375 4,269 4,085 4,024 3,790 3,637 3,527 3,511 3,503
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 22 PRICE TRENDS: CROWN HEIGHTS OVER THE LAST MONTH, THE AVERAGE RENTAL PRICE IN CROWN HEIGHTS FELL BY 2.20%.
CROWN HEIGHTS STUDIO PRICE TRENDS OVER 13 MONTHS 2400 2160 1920 1680 1440 1200 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 1,970 1,963 1,928 2,010 1,949 2,002 1,963 1,914 1,903 1,836 1,771 1,744 1,742
CROWN HEIGHTS ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3000
2700
2400
2100
1800
1500 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,208 2,287 2,264 2,250 2,258 2,251 2,235 2,165 2,167 2,107 2,042 2,046 1,972
CROWN HEIGHTS TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 3000
2800
2600
2400
2200
2000 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,621 2,612 2,695 2,666 2,671 2,629 2,605 2,565 2,524 2,474 2,420 2,410 2,350
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 23 PRICE TRENDS: DOWNTOWN BROOKLYN THE AVERAGE RENTAL PRICE IN DOWNTOWN BROOKLYN FELL BY 0.94% THROUGH DECEMBER.
DOWNTOWN BROOKLYN STUDIO PRICE TRENDS OVER 13 MONTHS 3000
2700
2400
2100
1800 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,783 2,827 2,837 2,842 2,824 2,768 2,659 2,575 2,436 2,379 2,255 2,244 2,214
DOWNTOWN BROOKLYN ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 4200
3800
3400
3000
2600
2200 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 3,485 3,452 3,575 3,530 3,464 3,513 3,337 3,238 3,001 2,950 2,948 2,957 2,968
DOWNTOWN BROOKLYN TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 5500
4800
4100
3400
2700
2000 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 4,941 4,738 4,798 4,843 4,739 4,759 4,579 4,436 4,110 4,123 4,176 4,182 4,113
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 24 PRICE TRENDS: DUMBO FOLLOWING AN INCREASE LAST MONTH, THE AVERAGE RENTAL PRICE IN DUMBO EXPERIENCED A CORRECTION OF 5.40% THROUGH DECEMBER.
DUMBO STUDIO PRICE TRENDS OVER 13 MONTHS 4200 3800 3400 3000 2600 2200 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 3,422 3,373 3,434 3,287 3,350 3,007 3,148 2,968 2,934 2,901 2,958 3,052 3,021
DUMBO ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 5100
4700
4300
3900
3500
3100 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 4,118 4,388 4,356 4,710 4,412 4,326 4,083 4,058 4,030 3,836 3,879 3,868 3,733
DUMBO TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 7500
6900
6300
5700
5100
4500 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 6,013 5,923 6,462 6,574 6,161 5,741 5,851 5,676 5,568 5,685 5,705 5,958 5,428
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 25 PRICE TRENDS: FORT GREENE AFTER REMAINING VIRTUALLY UNCHANGED THROUGH NOVEMBER, THE AVERAGE RENTAL PRICE IN FORT GREENE EXPERIENCED A CORRECTION OF 2.90% IN DECEMBER.
FORT GREENE STUDIO PRICE TRENDS OVER 13 MONTHS 2900 2700 2500 2300 2100 1900 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,525 2,719 2,722 2,762 2,605 2,567 2,511 2,441 2,380 2,261 2,296 2,299 2,322
FORT GREENE ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3600
3400
3200
3000
2800
2600 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 3,256 3,188 3,398 3,517 3,459 3,288 3,166 3,086 2,929 2,819 2,808 2,834 2,786
FORT GREENE TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 5500
4900
4300
3700
3100
2500 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 4,636 4,439 4,380 4,743 4,698 4,384 4,266 4,016 4,043 3,776 3,775 3,750 3,517
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 26 PRICE TRENDS: GREENPOINT REMAINING RELATIVELY STABLE, THE AVERAGE RENTAL PRICE IN GREENPOINT INCREASED BY JUST 0.31% THROUGH DECEMBER.
GREENPOINT STUDIO PRICE TRENDS OVER 13 MONTHS 3200 2900 2600 2300 2000 1700 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,683 2,605 2,692 2,691 2,708 2,725 2,637 2,559 2,418 2,386 2,225 2,295 2,366
GREENPOINT ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3500
3200
2900
2600
2300
2000 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 3,130 3,161 3,137 3,317 3,108 3,207 2,950 2,831 2,820 2,768 2,680 2,680 2,671
GREENPOINT TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 5000
4400
3800
3200
2600
2000 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 3,853 4,081 3,988 4,148 3,677 3,711 3,492 3,571 3,424 3,127 3,073 3,093 3,057
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 27 PRICE TRENDS: PARK SLOPE THROUGH DECEMBER, THE AVERAGE RENTAL PRICE IN PARK SLOPE FELL BY 1.94%.
PARK SLOPE STUDIO PRICE TRENDS OVER 13 MONTHS 2700 2450 2200 1950 1700 1450 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,106 2,096 2,171 2,114 2,115 2,022 2,066 2,069 2,082 2,051 1,978 1,948 1,879
PARK SLOPE ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3200
3000
2800
2600
2400
2200 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,753 2,759 2,746 2,715 2,721 2,668 2,718 2,648 2,614 2,552 2,486 2,430 2,419
PARK SLOPE TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 4100
3800
3500
3200
2900
2600 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 3,652 3,698 3,787 3,630 3,479 3,592 3,393 3,373 3,310 3,176 3,157 3,091 3,025
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 28 PRICE TRENDS: PLG/FLATBUSH THROUGH DECEMBER, THE AVERAGE RENTAL PRICE PROSPECT LEFFERTS GARDENS/FLATBUSH REMAINED STABLE, FALLING BY JUST 0.12%.
PROSPECT LEFFERTS GARDEN/FLATBUSH STUDIO PRICE TRENDS OVER 13 MONTHS 2500 2200 1900 1600 1300 1000 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 1,809 1,782 1,729 1,769 1,902 1,918 1,895 1,792 1,875 1,817 1,796 1,756 1,746
PROSPECT LEFFERTS GARDEN/FLATBUSH ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 2600
2350
2100
1850
1600
1350 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,017 2,054 2,027 2,042 2,045 2,069 2,071 2,005 2,036 1,992 2,010 1,972 1,950
PROSPECT LEFFERTS GARDEN/FLATBUSH TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 3200
2900
2600
2300
2000
1700 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 2,498 2,574 2,407 2,455 2,546 2,509 2,459 2,467 2,396 2,386 2,442 2,345 2,370
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 29 PRICE TRENDS: WILLIAMSBURG THROUGH DECEMBER, THE AVERAGE RENTAL PRICE IN WILLIAMSBURG FELL BY 2.32%.
WILLIAMSBURG STUDIO PRICE TRENDS OVER 13 MONTHS 3200 3000 2800 2600 2400 2200 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 3,099 3,029 3,042 3,024 2,913 2,843 2,815 2,759 2,645 2,575 2,492 2,563 2,493
WILLIAMSBURG ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3600
3400
3200
3000
2800
2600 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 3,381 3,321 3,405 3,472 3,339 3,431 3,139 3,072 2,930 2,900 2,811 2,775 2,730
WILLIAMSBURG TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 4500
4100
3700
3300
2900
2500 DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 4,314 4,394 4,352 4,285 3,884 3,842 3,692 3,625 3,494 3,335 3,257 3,183 3,100
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 30 THE REPORT EXPLAINED
THE BROOKLYN RENTAL MARKET REPORT COMPARES FLUCTUATION IN THE CITY’S RENTAL DATA ON A MONTHLY BASIS. IT IS AN ESSENTIAL TOOL FOR PO- TENTIAL RENTERS SEEKING TRANSPARENCY IN THE NYC APARTMENT MARKET AND A BENCHMARK FOR LANDLORDS TO EFFICIENTLY AND FAIRLY ADJUST INDIVIDUAL PROPERTY RENTS IN BROOKLYN.
The Brooklyn Rental Market Report TM is based on a cross-section of data from available listings and priced under $10,000, with ultraluxury property omitted to obtain a true monthly rental average. Our data is aggregated from the MNS proprietary database and sampled from a specific mid-month point to record current rental rates offered by landlords during that particular month. It is then combined with information from the REBNY Real Estate Listings Source (RLS), OnLine Residential (OLR.com) and R.O.L.E.X. (Real Plus).
Author: MNS has been helping Brooklyn landlords and renters navigate the rental market since 1999. From large companies to individuals, MNS tailors services to meet your needs. Contact us today to see how we can help.
Contact Us Now: 718-222-0211 Note: All market data is collected and compiled by MNS’s marketing department. The information presented here is intended for instructive purposes only and has been gathered from sources deemed reliable, though it may be subject to errors, omissions, changes or withdrawal without notice.
If you would like to republish this report on the web, please be sure to source it as the “Brooklyn Rental Market Report” with a link back to its original loation.
HTTP://WWW.MNS.COM/BROOKLYN_RENTAL_MARKET_REPORT
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 31 WILLIAMSBURG 40 N 6th St Brooklyn, NY 11249
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