New York City maintained position as the second most expensive rental market in the country this October, as one bedrooms hit a median of $3,280, while two bedrooms reached $3,800. Though trailing San Francisco at $3,670 for a one bedroom, the city was firmly ahead of the third most expensive market, Boston, at $2,400.
Manhattan
Neighborhoods in Manhattan remained red hot through the start of the season. At the highest end were the Flatiron District ($4,400), NoMad ($4,370), and Tribeca ($4,200), while more affordable areas were found north in Inwood ($1,625), Washington Heights ($1,785), and West Harlem ($2,000).
Brooklyn
Looking closer at Brooklyn, the highest priced areas continued to be DUMBO ($3,865) and Vinegar Hill ($3,750), followed by Williamsburg ($3,300) and Downtown Brooklyn ($3,150). Rent hikes over the past quarter were seen across other areas including Bushwick ($2,270, up from $2,200), Bedford-Stuyvesant ($1,910, up from $1,850), and Crown Heights ($2,095, up from $1,995). Prices in the low to mid $1,000’s could be found in neighborhoods including East Flatbush, Brownsville, and Ocean Hill.
If you’re interested to see how New York stacks up to the rest of the United States, view our National Rent Report for November, which analyzes over 1 million active listings available in the prior month.
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