New York City retained position as the second most expensive rental market in the nation last month, despite a slight decline in rents prices. Over the period, one bedroom rents decreased 1.8% to a median of $3,220, while two bedrooms decreased 2.4% to $3,710.
Manhattan
Similar to last quarter, NoMad ($4,500), Flatiron District ($4,380), and Tribeca ($4,300) remain the most expensive neighborhoods in Manhattan for renters. More affordable areas priced around $2,000 include Washington Heights ($1,780), Central Harlem ($2,000), and East Harlem ($2,120).
Brooklyn
Almost breaking the $4,000 threshold, Vinegar Hill ($3,899) and DUMBO ($3,880) are the priciest Brooklyn neighborhoods currently. Not too far behind included Williamsburg ($3,300), Downtown Brooklyn ($3,080), and Brooklyn Heights ($2,950). More affordable finds priced in the mid $1,000’s include East Flatbush, Brownsville, and Maspeth.
If you want to see how New York City stacks up to the rest of the United States, view our National Rent Report for February.
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