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Introduction
MNS is pleased to bring you our Bronx rental market report, covering the South and SouthWestern Bronx neighborhoods of Mott Haven, Concourse & Highbridge, Morris Heights & University Heights, and Riverdale.
A QUICK LOOK
Over the last month, the average rental rate in the neighborhoods analyzed by this report increased by 0.90%, from $1,942.92 to $1,960.47. Studio rental pricing increased by an impressive 5.94%. The average rental price for a one-bedroom unit fell by 3.36%, while two-bedrooms units saw their average price increase by 0.36%.
This past month, the most expensive studio and one-bedroom rentals were in Mott Haven, while the most expensive two-bedroom rentals were in Riverdale.
• Carrying over momentum from last month’s drop, the average overall rental price in Mott Haven fell by a relatively subdued 2.03% through August.
• After an increase last month, the average overall rental price for a unit in Concourse & Highbridge experienced a correction of 2.27%.
• Due, in large part, to a dearth of studio inventory in the area, the average overall rental price in Morris Heights & University Heights increased by 8.91% through August.
• Remaining relatively stable, the average overall rental price in Riverdale increased by just 0.34% over this past month.
The Report Explained
The Bronx Rental Market Report™ 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 to efficiently and fairly adjust individual property rents in Bronx.
The Bronx Rental Market Report™ is based on a cross-section of data from available listings and priced under $10,000, with ultra-luxury property omitted to obtain a true monthly rental average. Our data is aggregated from the MNS proprietary database and sampled from a specific 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).
Tools
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Determine if it's better to rent or to buy by filling in a few numbers and percentages.
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Check out samples of leases and riders you will find throughout the Manhattan rental market.
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A list of maps and transit options available in New York City and beyond.
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Print out our moving checklist so you can be sure to have all your ducks in a row before you move.
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Know the pertinent steps to buying an apartment in Manhattan. The guidance you receive can make or break your deal. Know before you go.
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We know real estate terms and abbreviations can get confusing, so we’ve put together a list of terms and definitions for you.
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