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BRONX RENTAL MARKET REPORT

Bronx infographics

BRONX RENTAL MARKET REPORT ARCHIVE

introduction

THE AVERAGE RENT IN BRONX HAS INCREASED THIS MONTH.

  • 0.53%
    CHANGE
  • $1,948
    JUNE 2020
  • $1,958
    JULY 2020

A QUICK LOOK

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Over the last month, the average rental price in the neighborhoods analyzed by this report increased by 0.53%, from $1,947.85 to $1,958.18. Studio rental pricing increased by 2.72%, from $1,664.60 to $1,709.86. The average rental price for a one-bedroom unit increased by 0.90%, from $1,874.23 to $1,891.18. The average rental price for a two-bedroom unit decreased by 1.35%, from $2,304.73 to $2,273.52.

Year-over-year, studio and two-bedroom rental units saw their average prices increase by 1.59% and 1.47%, respectively. In that same span, one-bedroom rental pricing fell by 0.73%. Overall, the average rental price in neighborhoods analyzed by this report is up 0.79% year-over-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 rental units were all in Morris Heights & University Heights.

WHERE PRICES DECREASED

price_down_icon

MOTT HAVEN

Two-Bedroom -4.6%

CONCOURSE/
HIGHBRIDGE

Studios -0.5%

One-Bedroom -2.8%

Two-Bedroom -1.9%

MORRIS HEIGHTS/
UNIVERSITY HEIGHTS

One-Bedroom -3.7%

Two-Bedroom -0.6%

WHERE PRICES INCREASED

price_up_icon

MOTT HAVEN

Studios 7.2%

One-Bedroom 5.1%

MORRIS HEIGHTS/
UNIVERSITY HEIGHTS

Studios 3.3%

RIVERDALE

Studios 0.1%

One-Bedroom 3.7%

Two-Bedroom 1.6%

BRONX AVERAGE PRICE

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BRONX AVERAGE PRICE

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BRONX AVERAGE PRICE

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A QUICK LOOK

year over year PRICE CHANGE BY NEIGHBORHOOD

year over year
CONCOURSE/HIGHBRIDGE
MORRIS-UNIVERSITY HEIGHTS
1.05%
2.48%
MOTT HAVEN
RIVERDALE
1.64%
3.59%

YEAR OVER YEAR Price change

BRONX RENTS: JULY 2019 VS. JULY 2020

price changes
TYPE JULY 2019 JULY 2020 CHANGE
Studios $1,683 $1,710 1.6%
One bedrooms $1,905 $1,891 0.7%
Two bedrooms $2,241 $2,274 1.5%
BRONX

WHEN COMPARED TO LAST MONTHS’ DROP, THE AVERAGE RENTAL PRICE IN CONCOURSE & HIGHBRIDGE FELL BY A SUBDUED 1.78% THROUGH JULY.

CONCOURSE/HIGHBRIDGE

OVER THE LAST MONTH, THE AVERAGE RENTAL PRICE IN MORRIS HEIGHTS & UNIVERSITY HEIGHTS REMAINED STABLED, FALLING BY JUST 0.50%.

MORRIS HEIGHTS/UNIVERSITY HEIGHTS

SIMILAR TO LAST MONTH, THERE WAS A NOTICEABLE INCREASE IN THE NUMBER OF LUXURY AVAILABILITIES IN THE AREA, WHICH LED TO AVERAGE PRICING INCREASING BY 2.01% MONTH-OVERMONTH.

MOTT HAVEN

SIMILAR TO THE SOME OF THE OTHER MORE-ESTABLISHED RENTAL NEIGHBORHOODS IN NEW YORK CITY, RIVERDALE SAW A SIZEABLE INCREASE IN THE NUMBER OF LUXURY AVAILABILITIES THROUGH JULY. THIS UPTICK IN LUXURY INVENTORY LED TO A 1.84% MONTH-OVER-MONTH INCREASE IN AVERAGE PRICING IN THE AREA.

RIVERDALE

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.

Contact Us Now: 718-222-0211
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.

HTTP://WWW.MNS.COM/BRONX_ RENTAL_MARKET_REPORT

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