BRONX RENTAL MARKET REPORT
BRONX RENTAL MARKET REPORT ARCHIVE
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TABLE OF CONTENTS
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AVERAGE RENT
THE AVERAGE RENT IN BRONX HAS DECREASED THIS MONTH.
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CHANGE
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$1,960OCTOBER 2019
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$1,891NOVEMBER 2019
A QUICK LOOK
Over the last month, the average rental rate in the neighborhoods analyzed by this report decreased by 3.53%, from $1,959.71 to $1,890.53. Studio rental pricing fell by 2.01%, from $1,651.96 to $1,618.71. One-bedroom rental pricing decreased by 3.29%, from $1,902.56 to $1,840.01. Two-bedroom pricing experienced a correction of 3.08%, from $2,283.09 to $2,212.87.
This past month, the most expensive studio and one-bedroom units by average rent could be found in Mott Haven, while the most expensive two-bedroom units were in Riverdale. The most affordable studio, one-bedroom, and two-bedroom units by average rent were in Morris/University Heights.
WHERE PRICES DECREASED
MOTT HAVEN
One-Bedroom -10.3%
Two-Bedroom -11.3%
CONCOURSE/
HIGHBRIDGE
Studios -0.6%
Two-Bedroom -3.0%
MORRIS HEIGHTS/
UNIVERSITY HEIGHTS
One-Bedroom -1.4%
RIVERDALE
Studios -2.4%
One-Bedroom -1.7%
WHERE PRICES INCREASED
MOTT HAVEN
Studios 2.7%
CONCOURSE/
HIGHBRIDGE
One-Bedroom 2.5%
MORRIS HEIGHTS/
UNIVERSITY HEIGHTS
Two-Bedroom 0.6%
RIVERDALE
Two-Bedroom 2.1%
BRONX AVERAGE PRICE
BRONX AVERAGE PRICE
BRONX AVERAGE PRICE
BRONX PRICE TRENDS
CONCOURSE/HIGHBRIDGE PRICE TRENDS
REMAINING RELATIVELY STABLE, THE AVERAGE RENTAL PRICE IN CONCOURSE & HIGHBRIDGE FELL BY JUST 0.58% THROUGH NOVEMBER.
MORRIS HEIGHTS/UNIVERSITY HEIGHTS PRICE TRENDS
THANKS TO THE REINTRODUCTION OF STUDIO INVENTORY IN THE MORRIS/UNIVERSITY HEIGHTS MARKET, THE AVERAGE RENTAL PRICE IN THE AREA FELL BY 5.59%.
MOTT HAVEN PRICE TRENDS
THIS PAST MONTH, THE AVERAGE RENTAL PRICE IN MOTT HAVEN EXPERIENCED A CORRECTION OF 7.31%. THIS DROP IS THE RESULT OF RENTAL MARKET SEASONALITY COINCIDING WITH A DECREASE IN LUXURY INVENTORY IN THE AREA.
RIVERDALE PRICE TRENDS
THROUGH NOVEMBER, THE AVERAGE RENTAL PRICE IN RIVERDALE EXPERIENCED A SLIGHT CORRECTION OF 0.35%.
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.
