BRONX RENTAL MARKET REPORT
BRONX RENTAL MARKET REPORT ARCHIVE
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introduction
THE AVERAGE RENT IN BRONX HAS INCREASED THIS MONTH.
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CHANGE
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$1,954NOVEMBER 2020
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$1,983DECEMBER 2020
A QUICK LOOK
Over the last month, the average rental price in the neighborhoods analyzed by this report increased by 1.46%, from $1,954.15 to $1,982.74. Studio rental pricing decreased by 0.80%, from $1,641.00 to $1,627.90. The average rental price for a one-bedroom unit increased by 1.61%, from $1,907.05 to $1,937.81. The average rental price for a two-bedroom unit increased by 2.94%, from $2,314.40 to $2,382.50.
Compared to this time last year, the average rental price for a studio in the Bronx is down by 1.04%. Conversely, one and two-bedroom rentals saw their average rental prices increase by 5.1% and 3.9% in that same span. Overall, the average rental price tracked by this report is up 2.89% from this time last year.
This past month, the most expensive studio and one-bedroom rentals were in Mott Haven while the most expensive two-bedroom rentals were observed in Riverdale. Conversely, the most affordable studio and two-bedroom rental units were in Morris Heights & University Heights, while the most affordable one-bedroom units were in Concourse & Highbridge.
WHERE PRICES DECREASED
CONCOURSE/
HIGHBRIDGE
Studios -2.1%
One-Bedroom -2.6%
Two-Bedroom -0.9%
MORRIS HEIGHTS/
UNIVERSITY HEIGHTS
Studios -6.7%
One-Bedroom -2.7%
Two-Bedroom -2.21%
RIVERDALE
Studios -2.3%
One-Bedroom -2.7%
Two-Bedroom -0.1%
WHERE PRICES INCREASED
MOTT HAVEN
Studios 6.7%
One-Bedroom 12.6%
Two-Bedroom 13.8%
BRONX AVERAGE PRICE
BRONX AVERAGE PRICE
BRONX AVERAGE PRICE
A QUICK LOOK
year over year PRICE CHANGE BY NEIGHBORHOOD
YEAR OVER YEAR Price change
BRONX RENTS: DECEMBER 2019 VS. DECEMBER 2020
| TYPE | DECEMBER 2019 | DECEMBER 2020 | CHANGE |
|---|---|---|---|
| Studios | $1,645 | $1,628 | 1.0% |
| One bedrooms | $1,843 | $1,938 | 5.1% |
| Two bedrooms | $2,293 | $2,382 | 3.9% |
BRONX PRICE TRENDS
CONCOURSE/HIGHBRIDGE PRICE TRENDS
THROUGH DECEMBER, THE AVERAGE RENTAL PRICE IN CONCOURSE & HIGHBRIDGE DECREASED BY 1.82%.
MORRIS HEIGHTS/UNIVERSITY HEIGHTS PRICE TRENDS
THE AVERAGE RENTAL PRICE IN MORRIS HEIGHTS & UNIVERSITY HEIGHTS FELL BY 3.68% THROUGH DECEMBER.
MOTT HAVEN PRICE TRENDS
THANKS TO A SIGNIFICANT NUMBER OF AVAILABILITIES FROM LUXURY NEW DEVELOPMENTS IN THE AREA, THE AVERAGE RENTAL PRICE IN MOTT HAVEN INCREASED BY 11.43% THROUGH DECEMBER. AS THE MARKET REACTS TO THESE NEWLY AVAILABLE RENTALS, AVERAGE PRICING CAN BE EXPECTED TO ADJUST.
RIVERDALE PRICE TRENDS
FOLLOWING A SLIGHT INCREASE LAST MONTH, THE AVERAGE RENTAL PRICE IN RIVERDALE EXPERIENCED A CORRECTION OF 1.51% THROUGH DECEMBER.
THE REPORT EXPLAINED
THE BRONX RENTAL MARKET REPORT TM COMPARES FLUCTUATION IN THE BOROUGH’S RENTAL DATA ON A MONTHLY BASIS. IT IS AN ESSENTIAL TOOL FOR POTENTIAL RENTERS SEEKING TRANSPARENCY IN THE BRONX APARTMENT MARKET AND A BENCHMARK FOR LANDLORDS TOEFFCIENTLY AND FAIRLY ADJUST INDIVIDUAL PROPERTY RENTS IN BRONX.
The Bronx Rental Market ReportTM is based on a cross-section of data from available listings and priced under $10,000, with ultraluxury property omitted to obtain a true monthly rental average. Our data is aggregated from the MNS proprietary database and sampled from a specifc mid-month point to record current rental rates offered by landlords during that particular month. It is then combined with information from the REBNY Real Estate Listings Source (RLS), OnLine Residential (OLR.com) and R.O.L.E.X. (Real Plus).
Author: MNS has been helping Bronx landlords and renters navigate the rental market since 1999. From large companies to individuals, MNS tailors services to meet your needs. Contact us today to see how we can help.
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Note: All market data is collected and compiled by MNS’s marketing department. The information presented here is intended for instructive purposes only and has been gathered from sources deemed reliable, though it may be subject to errors, omissions, changes or withdrawal without notice. If you would like to republish this report on the web, please be sure to source it as the “Bronx Rental Market Report” with a link back to its original location.
