BRONX RENTAL MARKET REPORT

Bronx infographics

BRONX RENTAL MARKET REPORT ARCHIVE

introduction

THE AVERAGE RENT IN BRONX HAS DECREASED THIS MONTH.

  • 1.07%
    CHANGE
  • $2,253
    NOVEMBER 2022
  • $2,229
    DECEMBER 2022

A QUICK LOOK

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Over the past month, the average rental price in the neighborhoods analyzed by this report decreased by 1.07%, from $2,253.26 to $2,229.06. Studio rental pricing increased by 0.9%, from $1,920.76 to $1,938.15. The average rental price for a one-bedroom unit increased by 0.08%, from $2,067.62 to $2,069.35. The average rental price for a two-bedroom unit decreased by 3.31%, from $2,771.40 to $2,679.67.

The most expensive studio, one and two-bedroom units were all seen in Mott Haven. Conversely, the most affordable studio, two-bedroom units were in Morris-University Heights, and most affordable one-bedrooms were in Concourse/Highbridge.

Compared to this time last year, studio pricing is up by 16.8%, one-bedrooms are up by 5.32% and two-bedrooms are up by 7.25%. Overall, the year-over-year average rental price tracked by this report has increased by 9.22%.

Most Expensive:

  • Studio: Mott Haven - $2,602
  • 1 BD: Mott Haven - $2,400
  • 2 BD: Mott Haven - $3,200

Least Expensive:

  • Studio: Morris-University Heights - $1,650
  • 1 BD: Concourse/Highbridge - $1,824
  • 2 BD: Morris-University Heights - $2,220

WHERE PRICES DECREASED

price_down_icon

MOTT HAVEN

Studios -1.7%

One-Bedroom -4.7%

Two-Bedroom -2.9%

CONCOURSE/
HIGHBRIDGE

Studios -1.1%

Two-Bedroom -2.8%

MORRIS HEIGHTS/
UNIVERSITY HEIGHTS

Two-Bedroom -2.58%

RIVERDALE

One-Bedroom -2.9%

Two-Bedroom -4.6%

WHERE PRICES INCREASED

price_up_icon

CONCOURSE/
HIGHBRIDGE

One-Bedroom 2.5%

MORRIS HEIGHTS/
UNIVERSITY HEIGHTS

Studios 5.8%

One-Bedroom 8.29%

RIVERDALE

Studios 2.4%

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
4.06%
13.05%
MOTT HAVEN
RIVERDALE
12.15%
7.33%

YEAR OVER YEAR Price change

BRONX RENTS: DECEMBER 2021 VS. DECEMBER 2022

price changes
TYPE DECEMBER 2021 DECEMBER 2022 CHANGE
Studios $1,659 $1,938 16.80%
One bedrooms $1,965 $2,069 5.32%
Two bedrooms $2,498 $2,680 7.25%
BRONX

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN CONCOURSE & HIGHBRIDGE SLIGHTLY DECREASED BY JUST 0.67%.

CONCOURSE/HIGHBRIDGE

MONTH-OVER-MONTH, THE AVERAGE RENTAL PRICE IN MORRIS HEIGHTS & UNIVERSITY HEIGHTS INCREASED BY 3.15%.

MORRIS HEIGHTS/UNIVERSITY HEIGHTS

THROUGH DECEMBER, THE AVERAGE RENTAL PRICE IN MOTT HAVEN DECREASED BY 3.05%.

MOTT HAVEN

THE AVERAGE RENTAL PRICE IN RIVERDALE DECREASED BY 2.35%.

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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