Real estate and rental search site Zumper recently analyzed their data and found the Manhattan and North Brooklyn neighborhoods which have the greatest increase and decrease in median rental prices since winter of last year. Average one and two-bedroom rents are down nearly 4% across the City. We are still the 2nd most expensive rental city in the nation behind San Francisco (yay?).
New York City continued to reign as the second most expensive city in the nation with one bedroom rent staying stable at $2,750, while two bedrooms dropped 2.5% to $3,110 last month. Year over year trends show a similar story with rents for both bedroom types down around 4%.
In Manhattan and South Bronx:
Melrose in the Bronx and Financial District in Manhattan had the fastest growing rents on this map last quarter, up 8% and 7%, respectively. Meanwhile, Point Morris in the Bronx, down 11%, and Murray Hill in Manhattan, down 4%, saw the largest price dips.
While Maspeth in Queens and Borough Park in Brooklyn had the fastest growing prices last quarter, up 10% and 9%, respectively, East Flatbush took the largest rent dip, down 11%. Waterfront DUMBO ($3,940) and adjacent Downtown Brooklyn ($3,370) reigned as the most expensive Brooklyn neighborhoods this winter. More affordable areas, with rentals priced closer to $2,000, could be found in Greenwood Heights and Crown Heights.
Check out the accompanying article for more analysis on New York City rental prices in winter 2019
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