clock menu more-arrow no yes mobile

Filed under:

The Story of 2014: Brooklyn Rents Rose 10% Since January

New, 6 comments

Because there can't be enough coverage of rising rents, listings site Zumper has crunched the numbers on rents in Manhattan and Brooklyn neighborhoods for the entirety of 2014 to date—and the stats reflect the high-rent reality that New Yorkers have been experiencing for quite some time. In Brooklyn, rents rose more than 10 percent, although the green spots in certain neighborhoods like Brooklyn Heights and Windsor Terrace reveal that not all prices are on the up-and-up. (Though in the former, they're already pretty darn high.) The areas that saw the highest rent increases are, unsurprisingly, the fastest-gentrifying ones, including Bushwick and Crown Heights. Zumper outlines some trends behind the numbers: people fleeing Manhattan in search of cheaper rents in Brooklyn (though that gap is shrinking); people looking for bigger apartments, which Kings County also has; and existing Brooklyn residents moving eastward in search of better deals.

Soho, Nomad, and the Two Bridges area east of Chinatown saw rents that increased the most, while the Garment District and Battery Park City showed the biggest decreases. Overall, though, rents still rose 3.8 percent.

Just add it to the littany of depressing stats.
· Manhattan rents grew 3.8% in 2014, at over twice the rate of inflation, while trendy Brooklyn went nuts, up 10.2% [Zumper]
· Zumper coverage [Curbed]
· Rental Market Reports coverage [Curbed]