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BROOKLYN YEAR END REPORT

Brooklyn year end infographics

BROOKLYN YEAR END REPORT ARCHIVE

TABLE OF CONTENTS

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  1. Intro
  2. Notable Trends
  3. Mean Rental Prices
  4. Brooklyn Price Trends
  5. The Report Explained

introduction

WE ARE PROUD TO PRESENT MNS’ NINTH ANNUAL YEAR END REPORT

Brooklyn

MNS is proud to present our ninth annual Year End Report for Brooklyn, the summation of a year’s worth of data collected from our monthly Brooklyn Rental Market Reports. We hope you find this report useful in determining the rental trends in Brooklyn’s major neighborhoods, as well as the overall climate of the Brooklyn rental market.

Over this past year, the average rental price in Brooklyn increased by 5.5%, from $2,805 to $2,959. The average rental price for a studio increased by 4.1%, from $2,231 to $2,323. The average rental price for a one-bedroom unit increased by 5.6%, from $2,689 to $2,841. The average rental price for a twobedroom unit increased by 6.2%, from $3,495 to $3,712.

The largest increase in studio rental pricing over the last year occurred in Williamsburg, where the average price increased by 10.19%, from $2,567 to $2,828. Greenpoint was home to the largest increase within one-bedroom pricing, with the average rental price increasing by 13.28%, from $2,596 to $2,941. The largest change within two-bedroom pricing also took place in Greenpoint, where the average rental price increased by 17.34%, from $3,099 to $3,636.

Out of the fifteen neighborhoods tracked by this report, only one experienced price contractions: DUMBO, where the average rental price fell by 0.13%, from $4,484 to $4,478.

MEAN RENTAL PRICES

2019 MEAN BROOKLYN RENTAL PRICES

  • $2,323

    Studios

  • $2,841

    One bedrooms

  • $3,712

    Two bedrooms

brooklyn mean studio
brooklyn mean 1 bedroom
brooklyn mean 2 bedrooms

BROOKLYN PRICE TRENDS

price changes

Average prices over the year

BAY RIDGE
BED STUY
BOERUM HILL
BROOKLYN HEIGHTS
BUSHWICK
$1,850
$2,248
$3,057
$3,799
$2,436
CLINTON HILL
COBBLE HILL
CROWN HEIGHTS
DOWNTOWN BK
DUMBO
$2,865
$3,063
$2,256
$4,478
$3,724
FORT GREENE
GREENPOINT
PARK SLOPE
PLG/FLATBUSH
WILLIAMSBURG
$3,355
$3,051
$2,823
$2,117
$3,289

THE REPORT EXPLAINED

THE BROOKLYN RENTAL MARKET REPORT IS THE ONLY REPORT THAT COMPARES FLUCTUATION IN THE CITY’S RENTAL DATA ON A MONTHLY BASIS. IT IS AN ESSENTIAL TOOL FOR POTENTIAL RENTERS SEEKING TRANSPARENCY IN THE NYC APARTMENT MARKET AND A BENCHMARK FOR LANDLORDS TO EFFICIENTLY AND FAIRLY ADJUST INDIVIDUAL PROPERTY RENTS IN BROOKLYN.

The Brooklyn Rental Market Report is based on data cross-sectioned from over 10,000 currently available listings 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 Brooklyn 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 at 718-222-0211

Note All market data is collected and compiled by MNS’ 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 “Brooklyn Rental Market Report” with a link back to its original location.

HTTP://WWW.MNS.COM/BROOKLYN_YEAR_END_MARKET_REPORT_2019

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