The Manhattan and Brooklyn rental markets both had an interesting January. Rents in Manhattan were up 7.2 percent compared to January 2011, and according to the latest report from MNS, rents are on the upswing in Brooklyn, too. Studio rents rose only 1 percent year-over-year, but one-bedroom rents went up 8.1 percent and two-bedroom rents rose 11.7 percent. Month-to-month, prices went down an average of $10.
Year-over-year, the highest neighborhood rent jump came in Cobble Hill, where 2BRs are now asking an average of $3,375/month, compared to $3,169 last year. Month-over-month, rents went up most sharply in Williamsburg (by $26) and down in Fort Greene (also by $26), Bushwick (by $60), Crown Heights (by $99 for 1BRs), and Bed-Stuy (by $172 for 2BRs). Renters, what are you seeing out there?
· Rental Market Reports coverage [Curbed]