Brooklyn’s Rent Landscape

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Photo: Mathew Rutledge
Photo: Mathew Rutledge

By Akosua Albritton

The December 2015 Brooklyn Rental Market Report is out, revealing rent figures for studio, 1-bed and 2-bed units in specified neighborhoods increased moderately since November 2015.

Average studio rent in Bedford-Stuyvesant and Crown Heights were $1,603 and $1,690, respectively, compared to Brooklyn’s average of $2,156. Bedford-Stuyvesant’s increase is attributed to leasing 377 Jefferson Avenue’s luxury units.

Average 1-bed rents in Bedford-Stuyvesant, Crown Heights, Bushwick and Prospect-Lefferts Gardens (PLG) were $2,007, $1,931, and $1,702, respectively, lower than $2,586 for Brooklyn.

Average 2-bed rents in Bedford-Stuyvesant, Crown Heights, Bushwick and PLG were $2,422, $2,417, $2,362, and $2,214, respectively, below the Brooklyn average of $3,394.

Average rents in Brooklyn increased 0.02%, or $2,711.25 in November 2015 to $2,711.89 in December 2015.

The report doesn’t present data for 30 neighborhoods in East, South and West Brooklyn except for Bay Ridge. Anomalies such as publishing Crown Heights data but none for adjoining Prospect Heights, though new and rehab construction have occurred, exists in the report.

Find more statistics at www.mns.com/Brooklyn_rental_market_report.

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