Real estate website Zumper has taken tally of the median rents for a one-bedroom apartment in Manhattan and Brooklyn this November. Among their biggest findings? In Manhattan, the fastest growing neighborhood was East Harlem, where the cost of a one bedroom is up 5.5 percent since the summer quarter. The median rent in the area came in at $2,300/month, higher than the monthly median of $2,100 in Central Harlem.
Typically pricey neighborhoods like Tribeca, Greenwich Village and Battery Park City are all priced above the $3,900 per month threshold, making them the most expensive neighborhoods to rent in this fall. The West Village ($3,800), Gramercy Park ($3,790), and the Financial District ($3,700) were not far behind. Looks like the best place to score a deal is Washington Heights, where the median comes in at $1,750. In the Bronx, prices all fall below $1,610, which is the monthly median to rent in Concourse Village.
Onto Brooklyn, you have DUMBO and Vinegar Hill as the priciest neighborhoods to rent in now, at $3,890 and $3,500 a month, respectively. Right behind are Williamsburg, Downtown Brooklyn, and Brooklyn Heights, which all have a median rent of $3,000 for November.
Pretty much any neighborhood in brownstone or northern Brooklyn boasts a median rent higher than $2,000/month. For a deal, renters will have to go deeper into the borough, into neighborhoods like East Flatbush ($1,590) or Brownsville ($1,400). According to Zumper, Brooklyn’s fastest growing rents for the month were claimed by Ocean Hill and Bushwick, which both experienced price rises over 6 percent since last quarter.
Taking a look at New York City as a whole, rent prices have remained relatively stable, with the median price of one-bedroom units dropping in November 1.3 percent to $3,000, and two-bedroom prices falling 0.6 percent to $3,450. City rents have actually been going through a steady decline over the last few months—some of that is seasonal, but it’s also on account of a glut in new rental inventory both in Manhattan and Brooklyn. Despite that, the city still reigns as the second most expensive rental market in the country, Zumper notes.
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