New York City Rents Down 3.7% In 2017

New York City held onto its position as the second most expensive rental market in the nation throughout the entirety of 2017, with fairly flat rent growths for both bedroom types all year. Last month, the city had one bedrooms priced at $2,870, down 3.7% since this time last year, and two bedrooms at $3,230, down 5%.

Manhattan & Bronx

The majority of Bronx neighborhoods on our map saw rents grow this year with Highbridge (+22%), Mott Haven (+15%), and Woodstock (+15%) leading the way with the largest spikes. The only area that saw rent decrease slightly was Port Morris, down about 4% since this time last year.

On Manhattan, only Central Harlem (+6%) had rent growing more than 5%. In terms of rent dips, Hell’s Kitchen (-9%), Tribeca (-6%), and Financial District (-5%) saw the biggest of those.

Brooklyn

The Brooklyn neighborhoods with the fastest growing prices this year were East Flatbush (+7%), Brownsville (+5%), and Williamsburg (+5%). However, the downward rent trends were much larger than the upwards, with Windsor Terrace, Greenwood Heights, and Borough Park all falling around 13%.

Full Data