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%.
Manhattan & 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.
This winter, Tribeca, Chelsea, and West Village, all priced at $3,700 and above, remained the most expensive neighborhoods to rent in Manhattan. More affordable rentals, priced closer to the city median of $2,750 could be found in Upper East Side and East Village.
Meanwhile in the Bronx, Mott Haven ($1,950) moved ahead of Point Morris ($1,700) to become the most expensive area to rent.
Brooklyn
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.
About
If you’re interested in how New York rent prices compare with the rest of the nation’s, check out our National Rent Report for January 2019.
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For a more in-depth discussion of our methodology, check out our post here.
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