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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.

  • 0.74%
    CHANGE
  • $1,994
    AUGUST 2020
  • $1,979
    SEPTEMBER 2020

A QUICK LOOK

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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

price_down_icon

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

price_up_icon

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

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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
3.56%
1.71%
MOTT HAVEN
RIVERDALE
2.06%
2.45%

YEAR OVER YEAR Price change

BRONX RENTS: SEPTEMBER 2019 VS. SEPTEMBER 2020

price changes
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

REMAINING RELATIVELY STABLE, THE AVERAGE RENTAL PRICE IN CONCOURSE & HIGHBRIDGE INCREASED BY JUST 0.47% OVER THE PAST MONTH.

CONCOURSE/HIGHBRIDGE

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.

MORRIS HEIGHTS/UNIVERSITY HEIGHTS

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.

MOTT HAVEN

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.

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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