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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$1,972MARCH 2020
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$1,934APRIL 2020
A QUICK LOOK
Over the last month, the average rental price in the neighborhoods analyzed by this report decreased by 1.92%, from $1,972.21 to $1,934.33. Studio rental pricing increased by 2.24%, from $1,640.94 to $1,677.75. The average rental price for a one-bedroom unit decreased by 6.47%, from $1,913.93 to $1,790.14. The average rental price for a two-bedroom unit increased by just 0.28%, from $2,323.13 to $2,329.63.
Year-over-year, studio and two-bedroom rental units saw their average pricing increase by 1.28% and 2.35%, respectively. In that same span, one-bedroom rental pricing fell by 4.38%. Overall, the average rental price among the neighborhoods analyzed by this report is down 0.03% year-over-year.
This past month, the most expensive studio rentals were in Mott Haven while the most expensive one and two-bedroom rentals were observed in Riverdale. Conversely, the most affordable studio rental units were in Concourse & Highbridge, while the most affordable one and two-bedroom units were in Morris Heights & University Heights.
WHERE PRICES DECREASED
MOTT HAVEN
One-Bedroom -14.6%
CONCOURSE/
HIGHBRIDGE
One-Bedroom -2.3%
MORRIS HEIGHTS/
UNIVERSITY HEIGHTS
One-Bedroom -4.8%
Two-Bedroom -5.8%
RIVERDALE
One-Bedroom -2.6%
Two-Bedroom -6.5%
WHERE PRICES INCREASED
MOTT HAVEN
Studios 4.2%
Two-Bedroom 11.6%
CONCOURSE/
HIGHBRIDGE
Studios 0.3%
Two-Bedroom 2.5%
RIVERDALE
Studios 2.0%
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: APRIL 2019 VS. APRIL 2020
| TYPE | APRIL 2019 | APRIL 2020 | CHANGE |
|---|---|---|---|
| Studios | $1,657 | $1,678 | 1.3% |
| One bedrooms | $1,872 | $1,790 | 4.4% |
| Two bedrooms | $2,276 | $2,330 | 2.4% |
BRONX PRICE TRENDS
CONCOURSE/HIGHBRIDGE PRICE TRENDS
FOLLOWING LARGER-THAN-EXPECTED GROWTH LAST MONTH, THE AVERAGE RENTAL PRICE IN CONCOURSE AND HIGHBRIDGE INCREASED BY A SUBDUED 0.28% THROUGH APRIL.
MORRIS HEIGHTS/UNIVERSITY HEIGHTS PRICE TRENDS
BUILDING UPON MOMENTUM FROM LAST MONTH’S PRICE DROP, THE AVERAGE RENTAL PRICE IN MORRIS HEIGHTS & UNIVERSITY HEIGHTS FELL BY AN ADDITIONAL 5.33% IN APRIL.
MOTT HAVEN PRICE TRENDS
ONCE AGAIN THANKS TO OFF-SETTING PRICE CHANGES AMONG ITS’ SUBMARKETS, THE AVERAGE OVERALL RENTAL PRICE IN MOTT HAVEN INCREASED BY JUST 0.41% THROUGH APRIL.
RIVERDALE PRICE TRENDS
FOLLOWING AN INCREASE IN MARCH, THE AVERAGE PRICE FOR A RENTAL UNIT IN RIVERDALE EXPERIENCED A CORRECTION OF 3.25% THROUGH APRIL.
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.
