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BRONX RENTAL MARKET REPORT

Bronx infographics

BRONX RENTAL MARKET REPORT ARCHIVE

introduction

THE AVERAGE RENT IN BRONX HAS DECREASED THIS MONTH.

  • 1.92%
    CHANGE
  • $1,972
    MARCH 2020
  • $1,934
    APRIL 2020

A QUICK LOOK

bronx

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

price_down_icon

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

price_up_icon

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

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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
7.59%
4.51%
MOTT HAVEN
RIVERDALE
6.87%
2.34%

YEAR OVER YEAR Price change

BRONX RENTS: APRIL 2019 VS. APRIL 2020

price changes
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

FOLLOWING LARGER-THAN-EXPECTED GROWTH LAST MONTH, THE AVERAGE RENTAL PRICE IN CONCOURSE AND HIGHBRIDGE INCREASED BY A SUBDUED 0.28% THROUGH APRIL.

CONCOURSE/HIGHBRIDGE

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.

MORRIS HEIGHTS/UNIVERSITY HEIGHTS

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.

MOTT HAVEN

FOLLOWING AN INCREASE IN MARCH, THE AVERAGE PRICE FOR A RENTAL UNIT IN RIVERDALE EXPERIENCED A CORRECTION OF 3.25% THROUGH APRIL.

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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