Real estate and rental search site Zumper recently analyzed their data and found the Manhattan and Brooklyn neighborhoods which have the greatest increase and decrease in median rental prices for a 1-bedroom since Fall of last year. The good news is that average rents are down across the City over 10% from last year, but the bad news is collectively, we are still the 2nd most expensive rental city in the nation behind San Francisco.
This fall, Tribeca ($4,000), Greenwich Village ($3,800), and Chelsea ($3,690) had the most expensive prices. More affordable rentals, priced around the $3,000 threshold, could be found in Lower East Side, East Village, and Upper West Side.
Windsor Terrace had the fastest growing rent since last quarter, up 5.7%. Meanwhile, Ocean Hill and Borough Park saw the largest rent dips, both down over 12%.
Check out the accompanying article for more analysis on New York City rental prices in Fall 2017.
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