26
BROOKLYN RENTAL MARKET REPORT June 2019
BROOKLYN RENTAL MARKET REPORT
June 2019
P A G E 2
B r o o k l y n M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
TABLE OF CONTENTS
1 1 Neighborhood Price Trends
2 6 The Report Explained
0 3 Introduction0 4 A Quick Look0 5 Mean Brooklyn Rental Prices1 0 Brooklyn Price Trends
1 1 Bay Ridge1 2 Bedford-Stuyvesant1 3 Boerum Hill1 4 Brooklyn Heights1 5 Bushwick1 6 Clinton Hill1 7 Cobble Hill1 8 Crown Heights1 9 Downtown Brooklyn2 0 Dumbo2 1 Fort Greene2 2 Greenpoint2 3 Park Slope2 4 Prospect-Lefferts Gardens2 5 Williamsburg
P A G E 3
B r o o k l y n R e n t a l M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
INTRODUCTION
Over the last month, the average rental price in Brooklyn increased by 1 .06%, from $ 2 , 9 53.93 to $2,98 5.37.
P A G E 4
B r o o k l y n M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
Over the last m o nth , th e avera g e rental price in Brooklyn increased by 1 .06%, from $2,95 3 .9 3 to $2,98 5.37. T h e avera ge rental price for a studio unit increased by 0.08 %, from $2,324.8 7 to $2,326.70. The average rental price for a one -bedroom unit de cre ase d b y 0.19%, f ro m $2,874.66 to $2,869.05. The average rental price for a two -be droom u ni t inc rea s ed b y 2 .6 8%, from $3,662.27 to $3,760.36. Year- over-year, renta l price s are up a c ro ss -th e -b oard, with studio, one -bedroom, and two -bedroom prices in cre asing b y 4.95%, 4 .90%, and 6.17 %, respectively.
Out o f the f i f teen neig h b o rh o o ds tracked by this report , s ix saw their average renta l price s fa l l : B edf o rd-Stuy vesant ( - 0.39%), Brooklyn Heights ( - 0.06%), Bush w ick ( - 0.47 %) , Cl into n Hi l l ( -2 .42%) , DUMBO (- 0.14%) , and Wil l iamsburg ( - 0.8 1%) . Out of a l l tra c ked unit ty pes, two -bedrooms performed the best on a by-ne ighborho o d b a si s , w i th pric i ng increasing everywhere except: Boerum Hil l ( -7.3% ) , C row n Heig h ts ( - 0.4%) , a nd Wil l iamsburg ( -3 .2%) . This past month, the most expen sive un its b y avera ge pric e were al l in DUMBO , while the least expensive were in Bay R idge .
Studios D um bo $3 ,0 60 Bay R idge $1 ,47 0
One -Bedrooms D um bo $4,0 26 Bay R idge $1 ,7 7 7
Two -Bedrooms D um bo $5,7 38 Bay R idge $2 ,390
NOTABLE TRENDS
BUILDING (AVER AGE PRICES)
A QUICK LOOK
T Y P E M O S T E X P E N S I V E L E A S T E X P E N S I V E
P A G E 5
B r o o k l y n R e n t a l M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
AVER AGE UNIT PRICES
BY NEIGHBORHOOD
BOERUM HILLSTUDIO PRICES
A QUICK LOOK STUDIOS
GREATEST CHANGES
SINCE MAY
AVER AGE PRICE
BROOKLYN STUDIOS
1 5 . 6 % ( $ 3 2 0 )
$2,327
$ 2 , 2 2 7
$ 2 , 7 2 6
$ 2 , 9 1 8
$ 3 , 0 6 0
$ 2 , 5 3 1
$ 2 , 0 5 0
$ 2 , 3 7 5
$ 2 , 3 4 2
$ 1 , 4 7 0
$ 1 , 8 3 2
$ 2 , 0 6 7
$ 1 , 8 3 6
$ 2 , 7 7 5
$ 2 , 5 2 2
$ 2 , 1 7 0
Clin t o n Hil l
For t G re e n e
Downtown Bro o k ly n
Du mbo
Brooklyn Height s
Cobble Hil l
Boeru m Hil l
B ay Rid g e
Greenpoint
Park S lope C rown Heights
Prospect Lefferts Garden
Bed-Stuy
Bushwick
W il l iamsburg
P A G E 6
B r o o k l y n M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
A QUICK LOOK ONE-BEDROOMS
AVER AGE UNIT PRICES
BY NEIGHBORHOOD
CLINTON HILLONE-BEDROOM
PRICES
GREATEST CHANGES
SINCE MAY
AVER AGE PRICE
BROOKLYN
ONE-BEDROOMS
5 . 3 % ( - $ 1 6 1 )
$2,869
$ 2 , 8 5 3
$ 3 , 3 1 0
$ 3 , 5 8 8
$ 4 , 0 2 6
$ 3 , 3 6 4
$ 2 , 9 7 8
$ 3 , 0 7 5
$ 2 , 8 5 9
$ 1 , 7 7 7
$ 2 , 0 3 4
$ 2 , 2 9 3
$ 2 , 2 2 2
$ 3 , 2 0 6
$ 3 , 0 1 1
$ 2 , 4 4 1
Clin t o n Hil l
Fo rt G reen e
Downtown B ro o k ly n
Du mbo
Brooklyn Height s
C o bble Hil l
Boeru m Hil l
Bay Rid g e
Greenpoint
P ark S lope Crown Heights
Prospect Lefferts Garden
Bed-Stuy
Bushwick
W il l iamsburg
P A G E 7
B r o o k l y n R e n t a l M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
A QUICK LOOK TWO-BEDROOMS
AVER AGE UNIT PRICES
BY NEIGHBORHOOD
COBBLE HILLTWO-BEDROOM
PRICES
GREATEST CHANGES
SINCE MAY
AVER AGE PRICE
BROOKLYN
TWO-BEDROOMS
2 1 . 6 % ( $ 8 0 7 )
$3,760
$ 3 , 6 5 5
$ 4 , 7 2 0
$ 4 , 6 3 3
$ 5 , 7 3 8
$ 5 , 5 6 5
$ 4 , 5 3 8
$ 3 , 9 8 7
$ 3 , 5 0 6
$ 2 , 3 9 0
$ 2 , 5 2 1
$ 2 , 5 6 8
$ 2 , 6 1 6
$ 3 , 6 5 8
$ 3 , 6 9 8
$ 2 , 6 1 3
Clin t o n Hil l
For t G reen e
Downtown B ro o k ly n
Du mbo
Brooklyn Height s
Cobble Hil l
Boeru m Hil l
Bay Rid g e
Greenpoint
Park S lope C rown Heights
Prospect Lefferts Garden
Bed-Stuy
Bushwick
W il l iamsburg
P A G E 8
B r o o k l y n M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
T Y P E J U N E 2 0 1 8 J U N E 2 0 1 9 C H A N G E
Studios $ 2 , 2 1 7 $ 2 , 3 2 7 4 . 9 5 %
One -Bedrooms $ 2 , 7 3 5 $ 2 , 8 6 9 4 . 9 0 %
Two -Bedrooms $ 3 , 5 4 2 $ 3 , 7 6 0 6 . 1 7 %
BROOKLYN RENTS: JUNE 2018 VS. JUNE 2019
YEAR OVER YEAR PRICE CHANGE
BY NEIGHBORHOOD> 5.5% CHANGE
2% - 5.5% CHANGE
< 2% CHANGE
1 0 . 4 1 %
1 4 . 2 2 %
- 3 . 2 2 %
9 . 0 4 %
3 . 7 3 %
1 . 3 7 %
6 . 6 4 %
6 . 7 7 %
2 . 3 6 %
3 . 2 5 %
5 . 3 1 %
6 . 6 7 %
1 1 . 6 7 %
0 . 7 8 %
C l i n t o n H i l l :
F o r t G r e e n e :
D o w n t o w n B r o o k l y n :
D U M B O :
B r o o k l y n H e i g h t s :
C o b b l e H i l l :
B o e r u m H i l l :
P a r k S l o p e
G r e e n p o i n t
W i l l i a m s b u r g
B u s h w i c k
P L G
B a y R i d g e
B e d - S t u y
C r o w n H e i g h t s4 . 3 2 %
A QUICK LOOK
P A G E 9
B r o o k l y n R e n t a l M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
BED STUY Studios -5.0%One -Bedroom - 0.002 % BOERUM HILL Two -Bedroom -7. 3% BROOKLYN HEIGHTS Studios -1 .3%One -Bedroom - 0. 8% BUSHWICK Studios -1 .2%One -Bedroom - 0. 9 %
BAY RIDGE Studios 0.1%One -Bedroom 0.7 %Two -Bedroom 4.6% BED STUY Two -Bedroom 2. 8% BOERUM HILL Studios 15.6%One -Bedroom 4.7 % BROOKLYN HEIGHTS Two -Bedroom 1 .0 % BUSHWICK Two -Bedroom 0. 5% CLINTON HILL Two -Bedroom 0.6%
W H E R E P R I C E S D E C R E A S E D ( M O N T H L Y )
W H E R E P R I C E S I N C R E A S E D ( M O N T H L Y )
CLINTON HILL Studios -3 .4%One -Bedroom -5.3% COBBLE HILL Studios -15.8%One -Bedroom - 4.8% CROWN HEIGHTS Two -Bedroom - 0.4% DUMBO Studios -2 .0 %One -Bedroom -2.6%
COBBLE HILL Two -Bedro o m 21 .6 % CROWN HEIGHTS Stu di o s 0. 5 %O ne -Bedro o m 2.0% DUMBO Two -Bedro o m 2.7 % DOWNTOWN BK Stu di o s 2.7 %O ne -Bedro o m 1 .1% FORT GREENE Stu di o s 6 . 5 %Two -Bedro o m 7.8 %
DOWNTOWN BK (N ew) Two -Bedroom 2 .5% FORT GREENE O ne -Bedroom - 0.6% PLG O ne -Bedroom -2.0 % WILLIAMSBURG Two -Bedroom -3 .2%
GREENPOINT Stu di o s 2.0%On e -Bedro o m 4 .4%T wo -Bedro o m 3.9 % PARK SLOPE Stu di o s 1 . 3%On e -Bedro o m 1 .4%T wo -Bedro o m 2. 5 % PLG Stu di o s 2.6 %T wo -Bedro o m 0.6 % WILLIAMSBURG Stu di o s 0.1%On e -Bedro o m 1 .2%
A QUICK LOOK
P A G E 1 0
B r o o k l y n M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
BROOKLYN PRICE TRENDS
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,217 2,199 2,238 2,275 2,254 2,268 2,246 2,226 2,223 2,282 2,288 2,325 2,327
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,735 2,756 2,766 2,702 2,701 2,691 2,669 2,672 2,722 2,782 2,853 2,875 2,869
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN3,542 3,567 3,561 3,587 3,515 3,432 3,457 3,449 3,503 3,527 3,609 3,662 3,760
1,900
2,020
2,140
2,260
2,380
2,500
2,500
2,600
2,700
2,800
2,900
3,000
3,000
3,200
3,400
3,600
3,800
4,000
B R O O K L Y N O N E - B E D R O O M P R I C E T R E N D S
B R O O K L Y N S T U D I O P R I C E T R E N D S
B R O O K L Y N T W O - B E D R O O M P R I C E T R E N D S
P A G E 1 1
B r o o k l y n R e n t a l M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
BAY RIDGE
T ha nks to a la rger-than-normal price increase among two -bedroom units , the aver age r ent al rate in Bay Ridge increased by 2 .16% during June.
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN1,455 1,403 1,472 1,542 1,563 1,439 1,431 1,477 1,440 1,462 1,473 1,469 1,470
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN1,740 1,736 1,783 1,767 1,764 1,764 1,769 1,757 1,785 1,761 1,760 1,764 1,777
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,311 2,269 2,282 2,273 2,224 2,254 2,220 2,240 2,198 2,286 2,278 2,284 2,390
1,100
1,250
1,400
1,550
1,700
1,850
1,450
1,570
1,690
1,810
1,930
2,050
1,600
1,840
2,080
2,320
2,560
2,800
B A Y R I D G E O N E - B E D R O O M P R I C E T R E N D S
B A Y R I D G E S T U D I O P R I C E T R E N D S
B A Y R I D G E T W O - B E D R O O M P R I C E T R E N D S
P A G E 1 2
B r o o k l y n M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
BEDFORD-STUYVESANT
T he avera ge rental price in Bedford-Stuyvesant experienced a s l ight correction of 0. 3 9% du r ing June.
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN1,783 1,954 1,958 1,965 1,985 2,013 1,935 1,924 1,897 1,913 1,910 1,933 1,836
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,221 2,173 2,216 2,232 2,190 2,188 2,206 2,168 2,166 2,178 2,210 2,222 2,222
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,459 2,495 2,560 2,577 2,563 2,522 2,512 2,496 2,537 2,562 2,574 2,545 2,616
1,550
1,700
1,850
2,000
2,150
2,300
1,950
2,050
2,150
2,250
2,350
2,450
2,100
2,250
2,400
2,550
2,700
2,850
B E D F O R D - S T U Y V E S A N T O N E - B E D R O O M P R I C E T R E N D S
B E D F O R D - S T U Y V E S A N T S T U D I O P R I C E T R E N D S
B E D F O R D - S T U Y V E S A N T T W O - B E D R O O M P R I C E T R E N D S
P A G E 1 3
B r o o k l y n R e n t a l M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
BOERUM HILL
T he avera ge rental price in Boerum Hil l increased by 1 .57 % during June. A majority o f t ha t increa s e ca n be attributed to the 15.55% price increase observed among stud i o u nit s in Boerum Hil l , which was caused by a dearth of supply.
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,374 2,144 2,210 2,205 1,900 2,036 2,158 2,174 2,311 2,226 2,072 2,055 2,375
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,890 2,823 2,817 2,834 2,716 2,615 2,642 2,657 2,811 2,850 2,866 2,935 3,075
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN3,833 4,065 4,065 3,971 3,735 3,684 3,619 3,620 3,538 4,166 4,279 4,300 3,987
1,500
1,800
2,100
2,400
2,700
3,000
2,100
2,350
2,600
2,850
3,100
3,350
2,000
2,700
3,400
4,100
4,800
5,500
B O E R U M H I L L O N E - B E D R O O M P R I C E T R E N D S
B O E R U M H I L L S T U D I O P R I C E T R E N D S
B O E R U M H I L L T W O - B E D R O O M P R I C E T R E N D S
P A G E 1 4
B r o o k l y n M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
BROOKLYN HEIGHTS
T hr ough June, rental pricing in Brooklyn Heights remained stable, decreasing by j ust 0.0 6 %.
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,366 2,210 2,275 2,246 2,345 2,469 2,466 2,401 2,418 2,552 2,501 2,564 2,531
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN3,248 3,103 3,153 3,016 3,171 3,259 3,187 3,084 3,150 3,408 3,480 3,391 3,364
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN4,896 4,978 5,008 5,105 5,032 4,547 4,707 4,643 5,336 5,257 5,291 5,512 5,565
1,650
1,900
2,150
2,400
2,650
2,900
2,400
2,700
3,000
3,300
3,600
3,900
3,900
4,300
4,700
5,100
5,500
5,900
B R O O K L Y N H E I G H T S O N E - B E D R O O M P R I C E T R E N D S
B R O O K L Y N H E I G H T S S T U D I O P R I C E T R E N D S
B R O O K L Y N H E I G H T S T W O - B E D R O O M P R I C E T R E N D S
P A G E 1 5
B r o o k l y n R e n t a l M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
BUSHWICK
A f t er a s l igh t increase last month, the average rental price in Bushwick experience d a c or r ection of 0.47 % during June.
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,142 2,145 2,166 2,153 2,140 2,094 2,097 2,074 2,136 2,109 2,205 2,196 2,170
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,187 2,340 2,323 2,345 2,306 2,225 2,247 2,295 2,372 2,414 2,451 2,462 2,441
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,531 2,558 2,567 2,540 2,458 2,459 2,436 2,478 2,539 2,576 2,572 2,560 2,613
1,600
1,800
2,000
2,200
2,400
2,600
1,950
2,100
2,250
2,400
2,550
2,700
2,250
2,350
2,450
2,550
2,650
2,750
B U S H W I C K O N E - B E D R O O M P R I C E T R E N D S
B U S H W I C K S T U D I O P R I C E T R E N D S
B U S H W I C K T W O - B E D R O O M P R I C E T R E N D S
P A G E 1 6
B r o o k l y n M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
CLINTON HILL
T ha nk s to inf lux of lower-priced units , the average rental price in Cl inton Hil l fe l l by 2 .4 2 % during June.
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,224 2,192 2,271 2,298 2,352 2,252 2,146 2,113 2,174 2,239 2,248 2,305 2,227
F
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,484 2,552 2,539 2,570 2,577 2,501 2,454 2,503 2,538 2,630 2,939 3,014 2,853
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN3,203 3,299 3,238 3,351 3,203 3,142 3,122 3,205 3,253 3,263 3,512 3,633 3,655
1,600
1,820
2,040
2,260
2,480
2,700
2,000
2,250
2,500
2,750
3,000
3,250
2,200
2,600
3,000
3,400
3,800
4,200
C L I N T O N H I L L O N E - B E D R O O M P R I C E T R E N D S
C L I N T O N H I L L S T U D I O P R I C E T R E N D S
C L I N T O N H I L L T W O - B E D R O O M P R I C E T R E N D S
P A G E 1 7
B r o o k l y n R e n t a l M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
COBBLE HILL
A s is ty pica l in areas with low supply, a large swing was observed among two -bed r o om r ent al pricing in Cl inton Hil l , which increased by 21 .64%. However, thanks to a cor r e cti o n in p r icing a mong studio rentals in the area, the average rental price in Cl inton Hil l inc r eased by a relat ively subdued 2.95% through June.
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,180 1,825 1,871 - - 2,200 2,138 2,200 1,900 2,300 2,140 2,433 2,050
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,904 3,096 3,005 2,849 2,733 2,688 2,717 2,776 2,874 2,947 2,998 3,128 2,978
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN3,886 3,613 3,736 3,721 3,564 3,634 3,755 3,624 3,591 3,687 3,643 3,730 4,538
1,200
1,600
2,000
2,400
2,800
3,200
2,200
2,450
2,700
2,950
3,200
3,450
2,750
3,150
3,550
3,950
4,350
4,750
C O B B L E H I L L O N E - B E D R O O M P R I C E T R E N D S
C O B B L E H I L L S T U D I O P R I C E T R E N D S
C O B B L E H I L L T W O - B E D R O O M P R I C E T R E N D S
P A G E 1 8
B r o o k l y n M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
CROWN HEIGHTS
R em aining s ta ble through June, the average rental price in Crown Heights increase d by 0.6 8 % during June.
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN1,901 1,869 1,866 1,908 1,743 1,816 1,821 1,812 1,857 1,863 1,974 2,056 2,067
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,211 2,227 2,225 2,276 2,184 2,203 2,166 2,143 2,158 2,209 2,240 2,247 2,293
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,529 2,629 2,550 2,591 2,518 2,430 2,438 2,461 2,534 2,576 2,589 2,578 2,568
1,200
1,440
1,680
1,920
2,160
2,400
1,500
1,740
1,980
2,220
2,460
2,700
1,900
2,100
2,300
2,500
2,700
2,900
C R O W N H E I G H T S O N E - B E D R O O M P R I C E T R E N D S
C R O W N H E I G H T S S T U D I O P R I C E T R E N D S
C R O W N H E I G H T S T W O - B E D R O O M P R I C E T R E N D S
P A G E 1 9
B r o o k l y n R e n t a l M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
DOWNTOWN BROOKLYN
In l ine with seasonal ity for this area, the average rental price in Downtown Brook lyn inc r eased by 2 .12% through June.
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,783 2,719 2,790 2,745 2,762 2,684 2,659 2,655 2,734 2,784 2,835 2,840 2,918
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN3,465 3,397 3,602 3,473 3,372 3,317 3,319 3,370 3,404 3,413 3,484 3,548 3,588
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN4,740 4,833 4,689 4,797 4,575 4,680 4,541 4,464 4,585 4,501 4,642 4,520 4,633
2,100
2,340
2,580
2,820
3,060
3,300
2,700
2,950
3,200
3,450
3,700
3,950
3,500
3,900
4,300
4,700
5,100
5,500
D O W N T O W N B R O O K L Y N O N E - B E D R O O M P R I C E T R E N D S
D O W N T O W N B R O O K L Y N S T U D I O P R I C E T R E N D S
D O W N T O W N B R O O K L Y N T W O - B E D R O O M P R I C E T R E N D S
P A G E 2 0
B r o o k l y n M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
DUMBO
T hr ough June, the average rental price in DUMBO decreased by 0.14%.
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,945 3,117 3,196 3,150 3,135 3,350 3,420 3,353 3,256 3,206 3,107 3,123 3,060
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN4,260 4,297 4,141 3,924 4,136 4,300 4,141 4,233 4,364 4,439 4,306 4,133 4,026
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN6,045 5,893 6,146 6,299 6,644 5,973 6,331 6,123 6,045 5,623 5,489 5,585 5,738
2,200
2,600
3,000
3,400
3,800
4,200
3,000
3,400
3,800
4,200
4,600
5,000
4,500
5,100
5,700
6,300
6,900
7,500
D U M B O O N E - B E D R O O M P R I C E T R E N D S
D U M B O S T U D I O P R I C E T R E N D S
D U M B O T W O - B E D R O O M P R I C E T R E N D S
P A G E 2 1
B r o o k l y n R e n t a l M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
FORT GREENE
Du e to an increased number of l ist ings from luxury developments in the area, the aver age rental price in Fort Greene increased by 4.74% over the past month.
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,267 2,545 2,578 2,668 2,642 2,567 2,572 2,445 2,353 2,458 2,504 2,560 2,726
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN3,116 3,169 3,170 3,019 3,078 3,167 3,092 2,988 2,975 3,033 3,216 3,330 3,310
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN4,035 4,191 4,013 4,035 3,788 4,017 3,919 3,967 3,880 3,866 4,352 4,379 4,720
1,900
2,100
2,300
2,500
2,700
2,900
2,600
2,800
3,000
3,200
3,400
3,600
2,650
3,150
3,650
4,150
4,650
5,150
F O R T G R E E N E O N E - B E D R O O M P R I C E T R E N D S
F O R T G R E E N E S T U D I O P R I C E T R E N D S
F O R T G R E E N E T W O - B E D R O O M P R I C E T R E N D S
P A G E 2 2
B r o o k l y n M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
GREENPOINT
Over the last month, the average rental price in Greenpoint increased by 3 .54%.
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,440 2,423 2,397 2,308 2,520 2,474 2,363 2,310 2,402 2,590 2,541 2,472 2,522
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,609 2,692 2,736 2,613 2,596 2,561 2,537 2,580 2,697 2,757 2,877 2,884 3,011
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN3,217 3,251 3,177 3,145 2,997 3,000 3,047 3,086 3,159 3,187 3,359 3,559 3,698
1,700
2,000
2,300
2,600
2,900
3,200
2,200
2,400
2,600
2,800
3,000
3,200
2,500
2,750
3,000
3,250
3,500
3,750
G R E E N P O I N T O N E - B E D R O O M P R I C E T R E N D S
G R E E N P O I N T S T U D I O P R I C E T R E N D S
G R E E N P O I N T T W O - B E D R O O M P R I C E T R E N D S
P A G E 2 3
B r o o k l y n R e n t a l M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
PARK SLOPE
T his past month, the average rental price in Park Slope increased by 1 .81%.
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,119 2,140 2,104 2,154 2,127 2,251 2,187 2,179 2,212 2,203 2,272 2,310 2,342
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,628 2,679 2,709 2,674 2,774 2,713 2,699 2,635 2,652 2,688 2,753 2,820 2,859
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN3,408 3,322 3,350 3,402 3,428 3,274 3,356 3,371 3,326 3,389 3,391 3,421 3,506
1,450
1,700
1,950
2,200
2,450
2,700
2,200
2,400
2,600
2,800
3,000
3,200
2,600
2,850
3,100
3,350
3,600
3,850
P A R K S L O P E O N E - B E D R O O M P R I C E T R E N D S
P A R K S L O P E S T U D I O P R I C E T R E N D S
P A R K S L O P E T W O - B E D R O O M P R I C E T R E N D S
P A G E 2 4
B r o o k l y n M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
PROSPECT-LEFFERTS GARDENS
T he avera ge rental price in Prospect Lefferts Gardens increased by 0.32% during June .
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN1,714 1,734 1,874 1,892 1,823 1,841 1,736 1,698 1,659 1,659 1,771 1,785 1,832
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,077 2,118 2,167 2,042 2,023 1,941 1,940 1,944 1,918 1,962 2,062 2,076 2,034
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,547 2,639 2,643 2,577 2,536 2,517 2,441 2,454 2,447 2,426 2,496 2,506 2,521
1,000
1,250
1,500
1,750
2,000
2,250
1,350
1,600
1,850
2,100
2,350
2,600
1,700
2,000
2,300
2,600
2,900
3,200
P R O S P E C T L E F F E R T S G A R D E N O N E - B E D R O O M P R I C E T R E N D S
P R O S P E C T L E F F E R T S G A R D E N S T U D I O P R I C E T R E N D S
P R O S P E C T L E F F E R T S G A R D E N T W O - B E D R O O M P R I C E T R E N D S
P A G E 2 5
B r o o k l y n R e n t a l M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
WILLIAMSBURG
Fol l owing six months of price increase, the average rental price in Wil l iamsburg dec r ea s ed by 0.81% during June.
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,563 2,561 2,537 2,618 2,519 2,534 2,569 2,579 2,599 2,665 2,771 2,771 2,775
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN2,985 2,944 2,909 2,893 2,899 2,919 2,914 2,941 2,965 3,047 3,154 3,167 3,206
JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN3,488 3,471 3,392 3,421 3,459 3,344 3,409 3,505 3,571 3,540 3,669 3,780 3,658
1,500
1,900
2,300
2,700
3,100
3,500
2,500
2,700
2,900
3,100
3,300
3,500
2,500
2,900
3,300
3,700
4,100
4,500
W I L L I A M S B U R G O N E - B E D R O O M P R I C E T R E N D S
W I L L I A M S B U R G S T U D I O P R I C E T R E N D S
W I L L I A M S B U R G T W O - B E D R O O M P R I C E T R E N D S
P A G E 2 6
B r o o k l y n M a r k e t R e p o r t | J u n e 2 0 1 9 M N S . C O M
THE REPORT EXPLAINED
T H E B R O O K LY N R E N T A L M A R K E T R E P O R T T M C O M P A R E S F L U C T U A T I O N I N T H E B O R O U G H ’ S R E N T A L D A T A O N A M O N T H LY B A S I S . I T I S A N E S S E N T I A L T O O L F O R P O T E N T I A L R E N T E R S S E E K I N G T R A N S P A R E N C Y I N T H E B R O O K LY N A P A R T M E N T M A R K E T A N D A B E N C H M A R K F O R L A N D L O R D S T O E F F C I E N T LY A N D F A I R LY A D J U S T I N D I V I D U A L P R O P E R T Y R E N T S I N B R O O K LY N .
CONTACT US NOW: 7 1 8 . 2 2 2 . 0 2 1 1
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 location.
H T T P : // W W W . M N S . C O M / B R O O K LY N _ R E N T A L _
M A R K E T _ R E P O R T
The Brooklyn Rental Market ReportTM 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 specifc 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.
