BRONX RENTAL MARKET REPORT
BRONX RENTAL MARKET REPORT ARCHIVE
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introduction
THE AVERAGE RENT IN BRONX HAS DECREASED THIS MONTH.
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CHANGE
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$1,994AUGUST 2020
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$1,979SEPTEMBER 2020
A QUICK LOOK
Over the last month, the average rental price in the neighborhoods analyzed by this report decreased by 0.74%, from $1,993.77 to $1,978.98. Studio rental pricing decreased by 3.54%, from $1,749.42 to $1,687.40. The average rental price for a one-bedroom unit decreased by 0.85%, from $1,921.29 to $1,904.87. The average rental price for a two-bedroom unit increased by 1.47%, from $2,310.61 to $2,344.67.
Year-over-year, rental pricing was up across-the-board, with studio, one-bedroom, and two-bedroom rental prices increasing by 1.58%, 1.32%, and 2.00%, respectively. Overall, the average rental price in the neighborhoods analyzed by this report is up 1.66% 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 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
MOTT HAVEN
Studios -3.7%
One-Bedroom -3.2%
Two-Bedroom -2.5%
MORRIS HEIGHTS/
UNIVERSITY HEIGHTS
Studios -7.9%
RIVERDALE
Studios -2.7%
One-Bedroom -0.3%
WHERE PRICES INCREASED
CONCOURSE/
HIGHBRIDGE
Studios 0.1%
One-Bedroom 0.2%
Two-Bedroom 1.0%
MORRIS HEIGHTS/
UNIVERSITY HEIGHTS
One-Bedroom 0.5%
Two-Bedroom 0.01%
RIVERDALE
Two-Bedroom 6.4%
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: SEPTEMBER 2019 VS. SEPTEMBER 2020
| TYPE | SEPTEMBER 2019 | SEPTEMBER 2020 | CHANGE |
|---|---|---|---|
| Studios | $1,661 | $1,687 | 1.6% |
| One bedrooms | $1,880 | $1,905 | 1.3% |
| Two bedrooms | $2,299 | $2,345 | 2.0% |
BRONX PRICE TRENDS
CONCOURSE/HIGHBRIDGE PRICE TRENDS
REMAINING RELATIVELY STABLE, THE AVERAGE RENTAL PRICE IN CONCOURSE & HIGHBRIDGE INCREASED BY JUST 0.47% OVER THE PAST MONTH.
MORRIS HEIGHTS/UNIVERSITY HEIGHTS PRICE TRENDS
SIMILAR TO MOTT HAVEN, THE AVERAGE RENTAL PRICE IN MORRIS HEIGHTS & UNIVERSITY HEIGHTS CORRECTED FOLLOWING AN INCREASE LAST MONTH, FALLING BY 2.20% THROUGH SEPTEMBER.
MOTT HAVEN PRICE TRENDS
FOLLOWING AUGUST’S PRICE INCREASE, THE AVERAGE RENTAL PRICE IN MOTT HAVEN EXPERIENCED A CORRECTION OF 3.13% THROUGH SEPTEMBER. PART OF THIS PRICE DROP CAN BE ATTRIBUTED TO AN INCREASE IN OVERALL SUPPLY COINCIDING WITH A MARKED UPTICK IN OFFERED CONCESSIONS, WHICH EXERTED DOWNWARD PRESSURE ON OVERALL RENTAL PRICING IN THE NEIGHBORHOOD.
RIVERDALE PRICE TRENDS
DUE TO AN INCREASE IN HIGHER-END RENTALS WITHIN THE TWO-BEDROOM SUBMARKET ENTERING THE MARKET, THE AVERAGE RENTAL PRICE IN RIVERDALE INCREASED BY 1.91% THROUGH SEPTEMBER.
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.
