Brooklyn Rents Keep Climbing
Brooklyn’s still got it.
It’s now more expensive than ever to live in many Brooklyn neighborhoods, according to a report released today.
Unprecedented rental rates are emerging in Brooklyn Heights, DUMBO and Williamsburg, according to a monthly Brooklyn rental market report released by MNS realty group.
The May 2012 report showed that one-and-two-bed-room rental rates in Brooklyn Heights are an average of 22 percent and 35 percent higher than the average rents for the rest of the borough, respectively.
“Still want this trendy nabe, think about going solo where you can get a studio for just under $2,000,” suggests the report.
In addition, two-bedroom units in those neighborhoods have seen a rental increase of 11.6 percent since last year. Those units are now renting for an average of$3,077 per month.
Those looking for cheaper Brooklyn options can always move to less expensive neighborhoods like Bed-Stuy, but even there rents have gone up 6.5 percent in the last two months, thanks in part to new construction, the report found. Still, despite the increase, rent in Bed-Stuy is still 45 percent less than in Williamsburg.Categories: Magazine · Newspaper · Rental Market Report