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 INCREASED THIS MONTH.
↑0.68% $2,522 $2,540 CHANGE FEBRUARY 2021 MARCH 2021
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 4 A QUICK LOOK
Over the past month, the average rental price in Brooklyn has increased by 0.68%, from $2,522.38 to $2,539.60. The average rental price for a studio unit improved by 0.78%, from $2,014.45 to $2,030.15. The average rental price for a one-bedroom unit increased by 1.12%, from $2,450.57 to $2,478.12. The average rental price for a two-bedroom unit increased by 0.27%, from $3,102.12 to $3,110.55. Compared to this time last year, rental prices are down across-the-board with studio, one-bedroom, and two-bedroom prices being down by 12.69%, 15.32%, and 18.70%, respectively. Overall, average rental pricing in Brooklyn is down 16.07% from this time last year.
This past month, the most expensive rental units by average price were observed in DUMBO. The most affordable studio units could be found in Bay Ridge, while the most affordable one and two-bedroom units by were observed in Borough Park/Sunset Park.
Out of the sixteen neighborhoods tracked by this report, eleven neighborhoods experienced price increases: Bay Ridge (+0.6%), Bedford-Stuyvesant (+2.3%), Boerum Hill (+3.6%), Borough Park/Sunset Park (+2.6%), Brooklyn Heights (+3.5%), Bushwick (+2.1%), Cobble Hill (+2.6%), Fort Greene (+1.4%), Park Slope (+0.2%), Prospect Lefferts Garden/Flatbush (+1.2%), and Williamsburg (+0.2%).
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 $2,698 Bay Ridge $1,500
One bedrooms Dumbo $3,658 Borough/Sunset Park $1,678
Two bedrooms Dumbo $5,468 Borough/Sunset Park $2,020
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 6 WHERE PRICES DECREASED
BAY RIDGE CROWN HEIGHTS GREENPOINT One-Bedroom -1.9% One-Bedroom -0.4% Studios -8.3% Two-Bedroom -1.4% One-Bedroom -1.1% BOERUM HILL Two-Bedroom -0.9% One-Bedroom -0.3% DUMBO Two-Bedroom -5.5% PARK SLOPE BROOKLYN HEIGHTS Two-Bedroom -1.1% Studios -2.3% DOWNTOWN BK One-Bedroom -0.7% PLG/FLATBUSH CLINTON HILL Two-Bedroom -3.8% Studios -4.3% Studios -0.5% Two-Bedroom -1.6% FORT GREENE WILLIAMSBURG Two-Bedroom -2.3% One-Bedroom -1.0% COBBLE HILL Two-Bedroom -0.7% Studio -0.5%
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 7 WHERE PRICES INCREASED
BAY RIDGE BUSHWICK DOWNTOWN BK Studios 1.6% Studios 5.0% Studios 1.7% Two-Bedroom 1.9% One-Bedroom 0.5% Two-Bedroom 1.2% FORT GREENE BED STUY Studios 2.7% Studios 5.9% CLINTON HILL One-Bedroom 5.1% One-Bedroom 0.4% One-Bedroom 1.9% Two-Bedroom 1.1% PARK SLOPE COBBLE HILL Studios 0.9% BOERUM HILL One-Bedroom 3.4% One-Bedroom 1.3% Studios 2.3% Two-Bedroom 3.6% Two-Bedroom 7.4% PLG/FLATBUSH CROWN HEIGHTS One-Bedroom 4.6% BOROUGH PARK/SUNSET PARK Studios 1.3% Two-Bedroom 2.5% Studios 5.4% One-Bedroom 0.5% DUMBO WILLIAMSBURG Two-Bedroom 2.2% Studios 1.7% Studios 2.5% One-Bedroom 2.7% BROOKLYN HEIGHTS One-Bedroom 2.0% Two-Bedroom 7.3%
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 8 BROOKLYN AVERAGE PRICE
Fort Greene $2,160 $2,309 Greenpoint
Downtown $2,264 Brooklyn $2,518 Williamsburg
Dumbo $2,698 $2,147 Bushwick
Brooklyn $2,014 Heights $1,901 Bed-Stuy
Boerum Hill $1,983 $1,807 Crown Heights
Cobble Hill $1,986 $1,651 PLG/Flatbush
Bay Ridge $1,500 $2,004 Clinton Hill
Borough/ $1,974 Park Slope Sunset Park $1,565
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 9 BROOKLYN AVERAGE PRICE
Fort Greene $2,771 $2,743 Greenpoint
Downtown $2,924 Brooklyn $2,782 Williamsburg
Dumbo $3,658 $2,295 Bushwick
Brooklyn $2,908 Heights $2,076 Bed-Stuy
Boerum Hill $2,577 $2,028 Crown Heights
Cobble Hill $2,608 $1,939 PLG/Flatbush
Bay Ridge $1,701 $2,475 Clinton Hill
Borough/ $1,678 $2,487 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 $3,375 $2,996 Greenpoint
Downtown $4,111 Brooklyn $2,989 Williamsburg
Dumbo $5,468 $2,473 Bushwick
Brooklyn $4,470 Heights $2,317 Bed-Stuy
Boerum Hill $3,472 $2,284 Crown Heights
Cobble Hill $3,285 $2,328 PLG/Flatbush
Bay Ridge $2,196 $3,040 Clinton Hill
Borough/ $2,020 $2,945 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 ↓4.67% CLINTON HILL ↓14.19% FORT GREENE ↓24.64%
BED STUY ↓9.69% COBBLE HILL ↓18.27% GREENPOINT ↓20.76%
BOERUM HILL ↓21.26% CROWN HEIGHTS ↓11.64% PARK SLOPE ↓12.46%
BOROUGH/SUNSET ↓2.06% DOWNTOWN BK ↓17.07% PLG/FLATBUSH ↓5.56%
BROOKLYN HEIGHTS ↓19.13% DUMBO ↓18.85% WILLIAMSBURG ↓23.12%
BUSHWICK ↓9.31%
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 12 PRICE CHANGES BROOKLYN RENTS: MARCH 2020 VS. MARCH 2021
TYPE MARCH 2020 MARCH 2021 CHANGE
Studios $2,325 $2,030 ↓ 12.7%
One bedrooms $2,927 $2,478 ↓ 15.3%
Two bedrooms $3,826 $3,111 ↓ 18.7%
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 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,325 2,310 2,268 2,248 2,184 2,159 2,106 2,065 2,061 2,033 1,998 2,014 2,030
BROOKLYN ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3200
3000
2800
2600
2400
2200 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,927 2,859 2,846 2,762 2,699 2,625 2,547 2,504 2,493 2,460 2,431 2,451 2,478
BROOKLYN TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 4000
3760
3520
3280
3040
2800 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 3,826 3,742 3,619 3,550 3,507 3,409 3,298 3,239 3,246 3,148 3,126 3,102 3,111
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 14 PRICE TRENDS: BAY RIDGE THROUGH MARCH, THE AVERAGE RENTAL PRICE IN BAY RIDGE INCREASED BY 0.61%.
BAY RIDGE STUDIO PRICE TRENDS OVER 13 MONTHS 1850 1700 1550 1400 1250 1100 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 1,552 1,450 1,680 1,594 1,579 1,532 1,539 1,504 1,506 1,462 1,460 1,476 1,500
BAY RIDGE ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 2050
1930
1810
1690
1570
1450 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 1,793 1,802 1,881 1,879 1,849 1,823 1,787 1,744 1,720 1,726 1,692 1,734 1,701
BAY RIDGE TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 2800
2560
2320
2080
1840
1600 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,315 2,486 2,257 2,250 2,194 2,177 2,219 2,171 2,202 2,121 2,119 2,154 2,196
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 15 PRICE TRENDS: BEDFORD-STUYVESANT THANKS TO STRONG STUDIO PRICE GROWTH, THE AVERAGE OVERALL RENTAL PRICE IN BEDFORD-STUYVESANT INCREASED BY 2.26% THROUGH MARCH.
BEDFORD-STUYVESANT STUDIO PRICE TRENDS OVER 13 MONTHS 2500 2300 2100 1900 1700 1500 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 1,975 1,952 1,947 1,964 1,909 1,925 1,914 1,791 1,766 1,735 1,791 1,796 1,901
BEDFORD-STUYVESANT ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 2450
2350
2250
2150
2050
1950 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,358 2,342 2,337 2,262 2,261 2,247 2,155 2,144 2,118 2,066 2,059 2,068 2,076
BEDFORD-STUYVESANT TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 2850
2700
2550
2400
2250
2100 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,637 2,626 2,449 2,559 2,581 2,515 2,459 2,400 2,386 2,324 2,312 2,291 2,317
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 16 PRICE TRENDS: BOERUM HILL FOLLOWING A SLIGHT DROP LAST MONTH, THE AVERAGE RENTAL PRICE BOERUM HILL REBOUNDED BY 3.58% THROUGH MARCH.
BOERUM HILL STUDIO PRICE TRENDS OVER 13 MONTHS 3000 2700 2400 2100 1800 1500 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,554 2,609 2,475 2,421 2,386 2,384 2,256 2,235 2,177 2,028 1,973 1,939 1,983
BOERUM HILL ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3350
3100
2850
2600
2350
2100 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 3,091 3,029 3,035 2,990 2,854 2,829 2,701 2,748 2,727 2,622 2,548 2,584 2,577
BOERUM HILL TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 5500
4800
4100
3400
2700
2000 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 4,556 4,748 4,394 4,145 4,038 3,963 3,818 3,606 3,621 3,411 3,287 3,231 3,472
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 17 PRICE TRENDS: BOROUGH/SUNSET PARK THROUGH MARCH, THE AVERAGE RENTAL PRICE IN BOROUGH PARK/SUNSET PARK INCREASED BY 2.57%.
BOROUGH PARK & SUNSET PARK STUDIO PRICE TRENDS OVER 13 MONTHS 1800 1600 1400 1200 1000 800 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 1,405 1,575 1,250 1,400 1,448 1,501 1,404 1,499 1,500 1,467 1,653 1,485 1,565
BOROUGH PARK & SUNSET PARK ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 2200
2000
1800
1600
1400
1200 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 1,870 1,773 1,823 1,854 1,931 1,845 1,786 1,772 1,736 1,741 1,739 1,669 1,678
BOROUGH PARK & SUNSET PARK TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 2600
2250
1900
1550
1200 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,099 2,134 2,098 2,146 2,168 2,183 2,091 2,105 2,115 2,049 1,991 1,977 2,020
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 18 PRICE TRENDS: BROOKLYN HEIGHTS OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN BROOKLYN HEIGHTS INCREASED BY 3.46%.
BROOKLYN HEIGHTS STUDIO PRICE TRENDS OVER 13 MONTHS 2900 2650 2400 2150 1900 1650 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,526 2,334 2,398 2,349 2,350 2,346 2,221 2,170 2,065 2,006 1,971 2,062 2,014
BROOKLYN HEIGHTS ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3900
3600
3300
3000
2700
2400 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 3,587 3,646 3,351 3,267 3,117 2,995 2,886 2,808 2,744 2,712 2,763 2,850 2,908
BROOKLYN HEIGHTS TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 7000 6300 5600 4900 4200 3500 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 5,501 5,428 5,192 5,094 5,218 5,157 4,799 4,503 4,546 4,469 4,414 4,166 4,470
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 19 PRICE TRENDS: BUSHWICK THROUGH MARCH, THE AVERAGE RENTAL PRICE IN BUSHWICK INCREASED BY 2.10%.
BUSHWICK STUDIO PRICE TRENDS OVER 13 MONTHS 2600 2400 2200 2000 1800 1600 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,271 2,300 2,130 2,119 2,050 2,041 2,010 1,972 1,957 2,037 2,027 2,044 2,147
BUSHWICK ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 2700
2550
2400
2250
2100
1950 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,555 2,506 2,445 2,354 2,339 2,325 2,231 2,111 2,178 2,282 2,229 2,284 2,295
BUSHWICK TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 3500
3100
2700
2300
1900
1500 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,799 2,721 2,659 2,580 2,601 2,532 2,437 2,366 2,370 2,446 2,469 2,444 2,473
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 20 PRICE TRENDS: CLINTON HILL REMAINING STABLE, THE AVERAGE RENTAL PRICE IN CLINTON HILL FELL BY JUST 0.17% OVER THE PAST MONTH.
CLINTON HILL STUDIO PRICE TRENDS OVER 13 MONTHS 2700 2480 2260 2040 1820 1600 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,322 2,217 2,266 2,230 2,174 2,141 2,119 2,050 2,035 1,997 1,995 2,015 2,004
CLINTON HILL ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3250
3000 F 2750
2500
2250
2000 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,861 2,694 2,795 2,805 2,798 2,745 2,659 2,578 2,546 2,440 2,459 2,428 2,475
CLINTON HILL TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 4200
3800
3400
3000
2600
2200 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 3,580 3,506 3,414 3,596 3,559 3,357 3,223 3,147 3,167 3,082 3,125 3,089 3,040
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 21 PRICE TRENDS: COBBLE HILL THROUGH MARCH, THE AVERAGE RENTAL PRICE IN COBBLE HILL INCREASED BY 2.60%.
COBBLE HILL STUDIO PRICE TRENDS OVER 13 MONTHS 3200 2800 2400 2000 1600 1200 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,100 2,150 2,295 2,200 1,965 1,997 2,033 2,051 2,062 2,021 2,000 1,987 1,986
COBBLE HILL ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3450
3200
2950
2700
2450
2200 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 3,156 3,148 3,112 3,084 2,925 2,671 2,627 2,488 2,559 2,552 2,582 2,522 2,608
COBBLE HILL TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 5000
4500
4000
3500
3000
2500 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 4,385 4,375 4,269 4,085 4,024 3,790 3,637 3,527 3,511 3,503 3,400 3,170 3,285
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 PAST MONTH, THE AVERAGE RENTAL PRICE IN CROWN HEIGHTS DECREASED BY 0.29%.
CROWN HEIGHTS STUDIO PRICE TRENDS OVER 13 MONTHS 2400 2160 1920 1680 1440 1200 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,010 1,949 2,002 1,963 1,914 1,903 1,836 1,771 1,744 1,742 1,744 1,784 1,807
CROWN HEIGHTS ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3000
2700
2400
2100
1800
1500 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,250 2,258 2,251 2,235 2,165 2,167 2,107 2,042 2,046 1,972 1,993 2,037 2,028
CROWN HEIGHTS TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 3000
2800
2600
2400
2200
2000 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,666 2,671 2,629 2,605 2,565 2,524 2,474 2,420 2,410 2,350 2,358 2,317 2,284
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 DECREASED BY 1.52% THROUGH MARCH.
DOWNTOWN BROOKLYN STUDIO PRICE TRENDS OVER 13 MONTHS 3000
2700
2400
2100
1800 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,842 2,824 2,768 2,659 2,575 2,436 2,379 2,255 2,244 2,214 2,161 2,226 2,264
DOWNTOWN BROOKLYN ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 4200
3800
3400
3000
2600
2200 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 3,530 3,464 3,513 3,337 3,238 3,001 2,950 2,948 2,957 2,968 2,929 2,944 2,924
DOWNTOWN BROOKLYN TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 5500
4800
4100
3400
2700
2000 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 4,843 4,739 4,759 4,579 4,436 4,110 4,123 4,176 4,182 4,113 4,176 4,273 4,111
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 24 PRICE TRENDS: DUMBO THROUGH MARCH, THE AVERAGE RENTAL PRICE IN DUMBO DECREASED BY 1.45%.
DUMBO STUDIO PRICE TRENDS OVER 13 MONTHS 4200 3800 3400 3000 2600 2200 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 3,287 3,350 3,007 3,148 2,968 2,934 2,901 2,958 3,052 3,021 2,608 2,653 2,698
DUMBO ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 5100
4700
4300
3900
3500
3100 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 4,710 4,412 4,326 4,083 4,058 4,030 3,836 3,879 3,868 3,733 3,534 3,561 3,658
DUMBO TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 7500
6900
6300
5700
5100
4500 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 6,574 6,161 5,741 5,851 5,676 5,568 5,685 5,705 5,958 5,428 5,675 5,784 5,468
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 25 PRICE TRENDS: FORT GREENE THROUGH MARCH, THE AVERAGE RENTAL PRICE IN FORT GREENE INCREASED BY 1.36%.
FORT GREENE STUDIO PRICE TRENDS OVER 13 MONTHS 2900 2700 2500 2300 2100 1900 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,762 2,605 2,567 2,511 2,441 2,380 2,261 2,296 2,299 2,322 2,118 2,104 2,160
FORT GREENE ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 4000
3600
3200
2800
2400
2000 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 3,517 3,459 3,288 3,166 3,086 2,929 2,819 2,808 2,834 2,786 2,624 2,636 2,771
FORT GREENE TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 5500
4900
4300
3700
3100
2500 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 4,743 4,698 4,384 4,266 4,016 4,043 3,776 3,775 3,750 3,517 3,418 3,455 3,375
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 26 PRICE TRENDS: GREENPOINT ADJUSTING TO THE INFLUX OF INVENTORY FROM LAST MONTH, THE AVERAGE RENTAL PRICE IN GREENPOINT FELL BY 3.25% THROUGH MARCH.
GREENPOINT STUDIO PRICE TRENDS OVER 13 MONTHS 3200 2900 2600 2300 2000 1700 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,691 2,708 2,725 2,637 2,559 2,418 2,386 2,225 2,295 2,366 2,386 2,519 2,309
GREENPOINT ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3500
3200
2900
2600
2300
2000 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 3,317 3,108 3,207 2,950 2,831 2,820 2,768 2,680 2,680 2,671 2,641 2,774 2,743
GREENPOINT TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 5000
4400
3800
3200
2600
2000 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 4,148 3,677 3,711 3,492 3,571 3,424 3,127 3,073 3,093 3,057 2,936 3,025 2,996
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 27 PRICE TRENDS: PARK SLOPE OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN PARK SLOPE INCREASED BY JUST 0.22%.
PARK SLOPE STUDIO PRICE TRENDS OVER 13 MONTHS 2700 2450 2200 1950 1700 1450 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,114 2,115 2,022 2,066 2,069 2,082 2,051 1,978 1,948 1,879 1,901 1,956 1,974
PARK SLOPE ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 3200
3000
2800
2600
2400
2200 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,715 2,721 2,668 2,718 2,648 2,614 2,552 2,486 2,430 2,419 2,459 2,455 2,487
PARK SLOPE TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 4100
3800
3500
3200
2900
2600 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 3,630 3,479 3,592 3,393 3,373 3,310 3,176 3,157 3,091 3,025 2,951 2,978 2,945
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 28 PRICE TRENDS: PLG/FLATBUSH THROUGH MARCH, THE AVERAGE RENTAL PRICE PROSPECT LEFFERTS GARDENS/FLATBUSH INCREASED BY 1.15%.
PROSPECT LEFFERTS GARDEN/FLATBUSH STUDIO PRICE TRENDS OVER 13 MONTHS 2500 2200 1900 1600 1300 1000 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 1,769 1,902 1,918 1,895 1,792 1,875 1,817 1,796 1,756 1,746 1,731 1,726 1,651
PROSPECT LEFFERTS GARDEN/FLATBUSH ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 2600
2350
2100
1850
1600
1350 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,042 2,045 2,069 2,071 2,005 2,036 1,992 2,010 1,972 1,950 1,895 1,853 1,939
PROSPECT LEFFERTS GARDEN/FLATBUSH TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 3200
2900
2600
2300
2000
1700 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 2,455 2,546 2,509 2,459 2,467 2,396 2,386 2,442 2,345 2,370 2,327 2,272 2,328
M.N.S REAL ESTATE NYC MNS.COM 718-222-0211 40 N 6TH ST BROOKLYN, NY 11249 29 PRICE TRENDS: WILLIAMSBURG ONCE AGAIN, WILLIAMSBURG RENTAL PRICING REMAINED STABLE. THIS TIME, THE AVERAGE PRICE RENTAL PRICE INCREASED BY JUST 0.15%.
WILLIAMSBURG STUDIO PRICE TRENDS OVER 13 MONTHS 3200 3000 2800 2600 2400 2200 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 3,024 2,913 2,843 2,815 2,759 2,645 2,575 2,492 2,563 2,493 2,453 2,458 2,518
WILLIAMSBURG ONE-BEDROOM PRICE TRENDS OVER 13 MONTHS 4400
4000
3600
3200
2800
2400 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 3,472 3,339 3,431 3,139 3,072 2,930 2,900 2,811 2,775 2,730 2,748 2,809 2,782
WILLIAMSBURG TWO-BEDROOM PRICE TRENDS OVER 13 MONTHS 4500
4100
3700
3300
2900
2500 MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR 4,285 3,884 3,842 3,692 3,625 3,494 3,335 3,257 3,183 3,100 3,056 3,009 2,989
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 POTENTIAL 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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