BRONX YEAR END REPORT
BRONX YEAR END REPORT ARCHIVE
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introduction
WE ARE PROUD TO PRESENT MNS’ THIRD ANNUAL YEAR END REPORT
MNS is proud to present our third annual Year End Report for Bronx, the summation of a year’s worth of data collected from our monthly Bronx Rental Market Reports. We hope you fi nd this report useful in determining the rental trends present in Bronx’s major neighborhoods, as well as the overall climate of the Bronx rental market.
Over the last year, overall rental prices in the neighborhoods analyzed by the Bronx were up 9.54%, from $2,023 in 2021 to $2,216 this past year. Studio rental prices increased by 12.79% year-over-year, from $1,686 to $1,902. Year-over-year, one-bedroom rental prices are up by 7.32%, from $1,953 to $2,096. Two-bedroom rental prices increased by 9.07% year-over-year, from $2,429 to $2,650.
NOTABLE TRENDS
Growth & Borough Trends
Mott Haven saw the years largest overall increase in rent. This upward trend is largely the result of continuous ground-up new development rental buildings such as 276 Grand Concourse and Third on Bankside, setting a new pace for the Mott Haven area.
BRONX RENTS: 2021 VS. 2022
| TYPE | 2021 | 2022 | CHANGE |
|---|---|---|---|
| Studios | $1,686 | $1,902 | 12.79% |
| One bedrooms | $1,953 | $2,096 | 7.32% |
| Two bedrooms | $2,429 | $2,650 | 9.07% |
MEAN RENTAL PRICES
2022 MEAN BRONX RENTAL PRICES
-
$1,902
Studios
-
$2,096
One bedrooms
-
$2,650
Two bedrooms
BRONX PRICE TRENDS
CONCOURSE/HIGHBRIDGE - Price changes of 2022*
*This figure represents the percentage change in pricing from 2021 to 2022 for each unit type.
| TYPE | |
|---|---|
| Studios | 5.96% |
| One bedrooms | 3.63% |
| Two bedrooms | 6.33% |
MORRIS-UNIVERSITY HEIGHTS - Price changes of 2022*
*This figure represents the percentage change in pricing from 2021 to 2022 for each unit type.
| TYPE | |
|---|---|
| Studios | 6.91% |
| One bedrooms | 7.76% |
| Two bedrooms | 13.23% |
MOTT HAVEN - Price changes of 2022*
*This figure represents the percentage change in pricing from 2021 to 2022 for each unit type.
| TYPE | |
|---|---|
| Studios | 32.73% |
| One bedrooms | 10.84% |
| Two bedrooms | 16.04% |
RIVERDALE - Price changes of 2022*
*This figure represents the percentage change in pricing from 2021 to 2022 for each unit type.
| TYPE | |
|---|---|
| Studios | 5.17% |
| One bedrooms | 6.09% |
| Two bedrooms | 1.61% |
BRONX PRICE TRENDS
Average prices over the year
THE REPORT EXPLAINED
THE BRONX 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 BRONX.
The Bronx 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 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 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 “Bronx Rental Market Report” with a link back to its original location.
