BROOKLYN YEAR END REPORT
BROOKLYN YEAR END REPORT ARCHIVE
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introduction
WE ARE PROUD TO PRESENT MNS’ ELEVENTH ANNUAL YEAR END REPORT
MNS is proud to present our eleventh 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.
Compared to last year, the average rental price in Brooklyn remained relatively stable, down 0.95%, from $2,806 in 2020 to $2,779 this past year. The average rental price for a studio increased by 0.02%, from $2,205.87 to $2,206.31. The average rental price for a onebedroom unit fell by 0.73%, from $2,704 to $2,685. The average rental price for a twobedroom unit fell by 1.72%, from $3,506 to $3,446.
It is important to note that these averages are for the entire calendar year, of which the effects of 2020’s shutdown from Covid19 are averaged out amongst the period preceding the shutdown. As such, the proceeding page breaks out the 2nd half of the year to capture the true effects and trends of the market pre and post pandemic.
NOTABLE TRENDS
Price Changes:
Downtown Brooklyn (5.52%) experienced the greatest overall yearoveryear positive price change, followed by Bushwick (3.13%). Conversely, Boerum Hill (9.20%) saw the largest yearover negative price change. Of the 16 neighborhoods analyzed, 6 areas saw slight positive increases, with the remaining showing slight decreases.
BROOKLYN RENTS: 2020 VS. 2021
TYPE  2020  2021  CHANGE 

Studios  $2,206  $2,206  0.02% 
One bedrooms  $2,704  $2,685  0.73% 
Two bedrooms  $3,506  $3,446  1.72% 
COVID19 SNAPSHOT, 6 MONTH ANALYSIS
IN ORDER TO BETTER ILLUSTRATE THE IMPACT OF COVID19 ON THE BROOKLYN RENTAL MARKET, WE HAVE COMPILED AND ANALYZED DATA FROM THE SECOND HALVES OF OUR 2020 AND 2021 MONTHLY RENTAL MARKET REPORTS.
Compared to last year, the average rental price in Brooklyn for the JulyDecember period is up 11.65%, from $2,655 in 2020 to $2,964 this past year. The average rental price for a studio increased by 11.28%, from $2,101 to $2,338. The average rental price for a onebedroom unit increased by 11.88%, from $2,555 to $2,858. The average rental price for a twobedroom unit increased by 11.70%, from $3,308 to $3,695. These cumulative changes show a full market recovery from the effect of the Covid19 pandemic.
Neighborhoods where there is traditional a higher density of new construction units saw their average rents rebound the greatest. Downtown Brooklyn led this with an overall increase of 24.80%, when comparing this 6month JulyDecember period from 2020 to 2021. Not far behind was Greenpoint at 20.30%, Williamsburg at 19.51% and Fort Greene at 18.73%.
BROOKLYN RENTS: JULDEC 2020 VS. JULDEC 2021
TYPE  JULYDEC 2020  JULYDEC 2021  CHANGE 

Studios  $2,101  $2,338  11.28% 
One bedrooms  $2,555  $2,858  11.88% 
Two bedrooms  $3,308  $3,695  11.70% 
MEAN RENTAL PRICES
2021 MEAN BROOKLYN RENTAL PRICES

$2,206
Studios

$2,685
One bedrooms

$3,446
Two bedrooms
BROOKLYN PRICE TRENDS
BAY RIDGE  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  0.8% 
One bedrooms  3.8% 
Two bedrooms  0.5% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
0.2% 
2.1% 
7.1% 
BEDFORDSTUYVESANT  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  2.7% 
One bedrooms  2.1% 
Two bedrooms  0.8% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
16.1% 
7.6% 
8.5% 
BOERUM HILL  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  11.1% 
One bedrooms  5.9% 
Two bedrooms  10.4% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
2.1% 
3.0% 
2.6% 
BOROUGH/SUNSET  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  7.4% 
One bedrooms  4.3% 
Two bedrooms  1.2% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
6.1% 
1.7% 
1.8% 
BROOKLYN HEIGHTS  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  0.1% 
One bedrooms  1.9% 
Two bedrooms  5.2% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
16.4% 
16.9% 
3.8% 
BUSHWICK  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  4.6% 
One bedrooms  2.6% 
Two bedrooms  2.5% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
14.4% 
13.0% 
14.1% 
CLINTON HILL  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  2.1% 
One bedrooms  2.4% 
Two bedrooms  2.1% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
7.9% 
4.9% 
8.2% 
COBBLE HILL  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  6.0% 
One bedrooms  0.7% 
Two bedrooms  2.4% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
19.3% 
17.9% 
18.4% 
CROWN HEIGHTS  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  0.4% 
One bedrooms  3.3% 
Two bedrooms  3.0% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
8.5% 
3.2% 
5.6% 
DOWNTOWN BROOKLYN  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  5.2% 
One bedrooms  5.1% 
Two bedrooms  6.0% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
29.7% 
23.5% 
22.9% 
DUMBO  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  6.8% 
One bedrooms  4.1% 
Two bedrooms  1.5% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
1.7% 
8.0% 
10.7% 
FORT GREENE  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  2.7% 
One bedrooms  2.1% 
Two bedrooms  0.8% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
12.1% 
21.9% 
20.4% 
GREENPOINT  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  5.2% 
One bedrooms  5.1% 
Two bedrooms  2.2% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
21.0% 
23.7% 
16.9% 
PARK SLOPE  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  2.6% 
One bedrooms  0.9% 
Two bedrooms  4.6% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
11.1% 
10.6% 
8.3% 
PROSPECT LEFFERTS GARDENS  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  6.5% 
One bedrooms  1.4% 
Two bedrooms  0.2% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
4.8% 
3.5% 
5.9% 
WILLIAMSBURG  Price changes of 2021*
*This figure represents the percentage change in the total average pricing from 2020 to 2021 for each unit type.
TYPE  

Studios  1.1% 
One bedrooms  1.1% 
Two bedrooms  2.4% 
COVID19 Snapshot
Price changes of 2^{nd} half 2021**
**This figure represents the percentage change in the total average pricing from JulyDecember 2020 to JulyDecember 2021 for each unit type.
12.7% 
20.6% 
23.8% 
BROOKLYN PRICE TRENDS
Average prices over the year
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 crosssectioned from over 10,000 currently available listings 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 specific midmonth 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 7182220211
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.