Brooklyn rental market coronavirus 72%, from $2,939 to $2,989. On March 30, Mario Salerno, who owns about 80 THE BROOKLYN RENTAL MARKET REPORT IS THE ONLY REPORT THAT COMPARES FLUCTUATION IN THE CITY’S RENTAL DATA ON A MONTHLY BASIS. It is likely that record-high rents diminished lease activity. Furthermore, it has pushed New York State’s residential housing market into a uniquely precarious position. Apr 4, 2020 · A Brooklyn landlord is being hailed a hero after he opted to waive April’s rent for his tenants amid the ongoing coronavirus (COVID-19) pandemic. The Jul 26, 2024 · The weekly Brooklyn Rental Trends Report analyzes three key data points: active listing growth, renter lead growth, and average renter leads per property. Mar 31, 2020 · New York rents remain high—for now—despite coronavirus pandemic Low inventory and apprehensive landlords squeeze the city’s rental market. The Corcoran Group recently released our Manhattan and Brooklyn Rental Market Analysis for June 2020. 6% year-over-year in the first quarter of 2025, Oct 15, 2020 · The median rental price in Manhattan was down 7. Days on market decreased 37% annually, the fifth annual decline in six months. March 2025: Signed Leases Reaches Strongest March in Four Years Leasing activity in Brooklyn jumped 17% year-over-year, reaching its highest March figure since 2021. Jul 10, 2025 · The median monthly asking rent of single family homes and apartments in Brooklyn, New York has surged dramatically since 2020, when it slightly dipped as the coronavirus (COVID-19) pandemic unfolded. It has largely recovered, but has transformed into a place of greater extremes. In this section, we examine what the recent administrative and census data tell us about long- and short-term changes in New York City’s rental market. Median and average rent have climbed annually for twenty-eight consecutive months. May 5, 2023 · The following chart looks at how the monthly rental supply for 2023 in Manhattan (blue) and Brooklyn (red) is doing this year compared to the average for each month in previous years (2019-2022). The borough’s median rent climbed on both a monthly and annual basis to $3,983, while the number of available units rose 2% from last year to reach a four-year December high. Unusually tight rental market conditions suggest rents will continue to rise, at least until a seasonal slowdown in demand occurs for rentals Oct 19, 2025 · Explore 2025 rent prices in Brooklyn, NY—average rent is $4,470. It also assesses which New York City neighborhoods are most vulnerable to non-payment of rent and the characteristics of the renters and housing stock in those neighborhoods. Out of the 56 total transactions in Q1 2021, 40% were Jun 23, 2022 · Rents are still climbing, but we uncovered where NYC rental inventory is increasing the most. S. May 19, 2020 · First Signs of a Rebound in the Rental Market Early indicators show that both supply and demand for NYC rentals have started to recover from the market contractions caused by the COVID-19 pandemic: Since the last week of April, new weekly rental inventory has returned to late-February levels, and has continued to increase every week in May. 64%, from $3,641 to $3,774. This past July marked the three-year anniversary of New York City’s post-COVID-19 reopening and found multifamily vacancy at a historically low 1. The Brooklyn rental market kicked off the year on a slow note, with leasing activity dipping compared to last year while median rent continued its steady climb. The Brooklyn rental market also kicked off the new year on a relatively subdued note. While more reliable and comprehensive data has a noticeable lag, a frustration for a market that moves as fast as New York City’s has recently, we have some data through 2022. Nov 6, 2025 · In June, pricing in Manhattan and Brooklyn moved in different directions, but the rental market was undeniably competitive in both boroughs. Despite a modest 2% rise in inventory after months of stagnation, renters still face limited options. 93%, from $2,842. Over in Brooklyn, the median rent also continued to rise. One-bedroom apartments rent for approximately $3231, two-bedroom apartments for $4300, and three-bedroom apartments for $4236. 6 days ago · The average 1 bedroom rent in Brooklyn, NY is $4863. Despite the fact that historically June is a more active month than May, the market slowed 23% month-over-month well below the five year average. Existing Home Sales Don’t Reflect COVID-19 Yet - Almost there. 6%, compared with a year ago. May 26, 2025 · Miami was the least affordable rental market in April, with a median rent for a typical studio to 2-bedroom unit 1. Nov 6, 2025 · In April, the median Manhattan rent again reached an all-time high of $4,800 per month, while the amount of inventory dropped on an annual basis for the eighth consecutive month. In contrast, leasing activity in Brooklyn jumped 17% year-over-year, reaching its highest March figure since 2021. And the last time rental prices fell, was during the financial crisis of 2008 when rent fell 10% in Manhattan. Elevated prices spurred quicker decisions from rent ting tim A QUICK LOOK Over the past month, the average rental price in Brooklyn has increased by 1. Jan 21, 2025 · The national absorption rate is 55%, which reflects a rebalancing of the market to pre-COVID-19 pandemic conditions. Renters have been more likely than homeowners to face job and income loss. Dec 17, 2024 · The average asking rent in 13 of 17 corridors in this report is still below pre-pandemic levels. Jan 21, 2025 · In December 2024, the median asking rent for all rental properties listed on Realtor. The Brooklyn Rental Market Report TM 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. 31%, from $4,629 to $4,643. 6 days ago · The median rent in Brooklyn climbed to $3,850, a 6. A QUICK LOOK Over the past month, the average rental price in Brooklyn has increased by 2. Apr 24, 2020 · Before the pandemic went into full force, real estate prices in New York City began to fall while rental prices continued to soar. Feb 3, 2021 · The effects of returning restrictions meant to curb a new rise in COVID-19 infections during the winter months could spell continued volatility for the tri-state area’s job market and economy at The number of reported signed leases decreased a marginal 1% compared to last year. 2 percent surge since then. By bedroom stats exclude units larger than three bedrooms. Jul 23, 2020 · Jul 23, 2020 buyers, renters, sellers Brooklyn real estate is very resistant to crystal-ball pronouncements, much to our disappointment. The market share of bidding wars climbed to 32. Average annual rent has also climbed annually for twenty-four consecutive months. The average rental price for a one-bedroom unit increased by 2. May 26, 2020 · The rental market has been more adversely impacted than the for-sale market during the COVID-19 pandemic and economic recession. The rental market in Brooklyn The average rent in Brooklyn for an apartment is around $3795 per month, with median rent close to $3775. Research in-depth renter data, rent price trends and other rental statistics for Brooklyn, NY Nov 6, 2025 · Activity in Manhattan’s rental market slowed in March versus last year as the median rent of $4,706 remains near a record high. Manhattan’s rental market continued to soften amid the Covid-19 pandemic, with the vacancy rate exceeding 5% in August for the first time in 14 years. NYC is rapidly adjusting to a new normal after the pandemic, but the rental market remains hampered by historically low inventory. It seems like right now everyone is asking the same questions about clarity, preparedness, and the future. Key Findings New York City’s robust visitor numbers before the COVID-19 pandemic generated strong demand for hotel rooms, reflected by recent average occupancy rates that were among the highest of any urban market in the United States. The greatest year-over-year change within two Jun 18, 2020 · StreetEasy's May 2020 NYC Housing market reports show that the COVID-19 pandemic has led to the largest Brooklyn home prices drop in years. It’s estimated that the average rent has 3795 by 24% in the past year. Jul 8, 2020 · Covid-19 is pushing New York City’s affordable housing crisis to a breaking point. Notably, the report showed that the market share of landlord concessions declined year-over-year, after forty-three consecutive months of increases in Manhattan Oct 24, 2023 · While no one has a crystal ball to see exactly what the next few years will be like, you can infer where commercial real estate is going based on what’s happening now. 92%, from $1,679 in 2019 to $1,462 this past year. Apr 22, 2025 · In 2025Q1, the median asking rent in New York City registered at $3,397, an increase of $179, or 5. In this article, we examine if and how the first few months of the COVID-19 pandemic affected the market for rental housing in the 49 largest metropolitan areas in the United States. The Real Deal notes that the major force behind price growth in the housing market is New York multifamily market solidly back on track. Price figures based on last asking prices for leases reported signed but Dec 17, 2020 · For once, the rent isn't too darn high. And the truth is that we just don’t know what to expect in the coming months. The greatest year-over-year change within two Jun 12, 2020 · Going downhill at high speed could be a good thing. Landlords and property managers have had to work with tenants who are having difficulties paying rent. This past Oct 9, 2025 · NYC Residential Rental Market Report: October 2025 Manhattan's rental market remained challenging for apartment seekers in October. 7% from last year, and the largest decline of all boroughs analyzed according to the StreetEasy Market Reports ii. The Corcoran Report APRIL 2025 | BROOKLYN | RENTAL MARKET April 2025: Median Rent Edges Higher While Lease Activity Slows same time last year, marking the lowest April level sinc 2020. Softer prices following summer peaks and only a slight dip in availability helped fuel demand. Days on market decreased across all unit types for only the second time since March 2022. Aug 11, 2022 · Rent in the city that never sleeps is seeing a staggering jump in the post-Covid market. Not all leases that are signed are publicly reported. A Reuters article reports that Gerri Weinberger received a notice of a rent increase from $ THE BROOKLYN RENTAL MARKET REPORT IS THE ONLY REPORT THAT COMPARES FLUCTUATION IN THE CITY’S RENTAL DATA ON A MONTHLY BASIS. 86%, from $2,713. 9 percent increase over the same period last year. Median and average rent rose for the 36th consecutive month. The average rental price for a two-bedroom unit increased by 3. 01. September 2025: Lease Activity Rebounds to a Four-Year September High Brooklyn’s rental market rebounded, with signed lease activity having its strongest performance for the month of September in four years. The average rental price for a studio unit increased by 2. We hope you fi nd this report useful in determining the rental trends in Brooklyn’s major neighborhoods, as well as the overall climate of the Brooklyn The Brooklyn Rental Market Report TM 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. The areas least affected, with fewer than 6 eviction filings per 1,000 rental units, included areas with a historically low eviction filing rate, including Downtown Manhattan, Astoria, Woodside/Sunnyside, Downtown Brooklyn, Park Slope, and Ridgewood/Maspeth. JULY 2024 BROOKLYN RENTAL MARKET Sep 14, 2021 · SEE ALSO: Eric Plesman to Rejoin Oxford Properties Group as President and CEO At the height of the rental market doldrums in February of this year, New York City was struggling through the second wave of the coronavirus. 1% in September compared to the same time last year, according to a recent report. The average rental price for a two-bedroom unit increased by 0. Median rent declined both annually and month Leases Signed 927 WE ARE PROUD TO PRESENT MNS’ TWELVETH ANNUAL YEAR END REPORT MNS is proud to present our twelveth annual Year End Report for Brooklyn, the summation of a year’s worth of data collected from our monthly Brooklyn Rental Market Reports. Perhaps most tellingly, the price per square foot grew 6. 02. Apr 30, 2020 · To shed light on how the potential non-payment of rent may be felt in the housing market, this analysis examines the housing stock occupied by renters in especially economically vulnerable professions. Since the onset of the coronavirus pandemic, the New York City rental-apartment market has been rocked by falling prices and rising vacancy rates. Renters saw some price relief as median rent in March changed minimally. November’s year-over-year median rent decline ended a three- ear trend of annual price increases. Here are the most pressing The number of reported signed leases increased 52% compared to September 2022. Apr 23, 2025 · The median asking rent for apartments in New York City went up 5. Average rent increased year-over-year for all bedroom types. It also marked the first time the borough saw a sharper decline in prices than Manhattan since the Apr 8, 2021 · The rental market in Manhattan and Brooklyn is on the upswing, particularly when compared to where things were a year ago, when the coronavirus pandemic was first raging through the city. com in New York City was $3,382, an increase of 5. 78 to $2,926. IN ORDER TO BETTER ILLUSTRATE THE IMPACT OF COVID-19 ON THE BROOKLYN RENTAL MARKET, WE HAVE COMPILED AND ANALYZED DATA FROM THE SECOND HALVES OF OUR 2020 AND 2021 MONTHLY RENTAL MARKET REPORTS. Softer pricing versus recent months and improved availability encouraged renewed leasing momentum. Rents are showing strong Feb 11, 2022 · The median rental in Manhattan in January was just shy of the $3,540 peak in April 2020. Prices in Northwest Queens and Brooklyn also rose last month, up 28 percent and 11. Available rental inventory reached its highest September level since 2020. 26%, from $2,256. Renters had fewer options, as inventory declined annually for the third consecutive month. The return of many The COVID-19 public health crisis has exacerbated this ongoing, nation-wide housing crisis, and has highlighted the racial inequities present in our housing market. 05 to $2,790. Out of the 56 total transactions in Q1 2021, 40% were free market and 60% contained rent-stabilized units. There is ample supply renting for less than $100 per square foot in multiple areas like Bay Ridge, Brooklyn Heights, and Greenpoint, but these smaller Coronavirus is Sending Luxury Rental Markets on a Rollercoaster Ride The pandemic is affecting the leasing landscape in cities like Chicago, New York and Seattle in different ways August 2025: Lease Activity Remains Steady as Inventory Declines Brooklyn’s rental market saw steady activity in August, with signed leases nearly flat year-over-year and up 12% from July. Meanwhile, median rent continued to rise, ticking u ved a m ch-needed oost, i creasing b According to rental index data from Street Easy, the median market-rate rent in Brooklyn reached a high of $2,729 in March 2020, just as the pandemic was beginning to take hold. Last month, there were 4,990 new leases The Brooklyn Rental Market Report is the only report that compares fl uctuation in the city’s rental data on a monthly basis. Find out more in StreetEasy's May 2022 Market Report. 8 percent. VIDEO State of the City II: Navigating Through COVID-19 - Sobering discussion. Abstract Past research has demonstrated the racially and spatially uneven impacts of economic shocks and environmental disasters on various markets. Compare costs by neighborhood and apartment size, find affordable areas, and track where prices are rising. In Brooklyn, the average rent dropped 9 percent, to $3,125, from $3,442 JULY 2025 | BROOKLYN | RENTAL MARKET July 2025: July Leasing Falls to Three-Year Low Amid Record Rent Brooklyn leasing activity declined year-over-year, with over two-thirds of neighborhoods reporting decreases in signed leases. Rents rose only modestly, year-over-year. Rent growth remained strong, with median rent reaching a new record and all bedroom counts setting individual highs. Jun 18, 2020 · Rental FAQ: Essential Answers to All Your Questions About Renting a Home in the Coronavirus Era The novel coronavirus has forced people to adjust to a new way of living. 3%. May 18, 2020 · Those prices have reduced on apartments in all five boroughs with an overall drop in rents between three to five percent: One-bedrooms in Brooklyn on the market before COVID-19 mandated closures Jul 26, 2022 · As we look to the second half of the year, renters should expect further increases in rents at least through this summer. It is an essential tool for potential renters seeking transparency in the NYC apartment market and a benchmark for landlords to efi ciently and fairly adjust individual property rents in Brooklyn. The national median asking price for rent is $1,695, the lowest since April 2022. October 2025: Leasing Activity Reaches a Three-Year October High Brooklyn’s rental market strengthened, posting its highest October activity since 2022. The decline was driven by record-high rents, despite a slight increase in inventory. Jul 2, 2025 · The COVID-19 crisis stifled rental activity in Manhattan and Brooklyn during Q2, as vacancy rates reached the highest levels in at least 13 years. The greatest year-over-year change in studio pricing was observed in Borough Park/Sunset Park, where the average rental price fell by 12. Data show us that as of the end of 2022, eviction filings have Summary Brooklyn’s retail sector registered significant tightening in several corridors during the last six months – particularly on streets with steady residential trafic. 3%, meaning nearly one out of three rentals paid more than the landlord asked, with the average premium paid above the asking price at 12. Feb 15, 2021 · The first signs the city is making a comeback have appeared, with Manhattan and Brooklyn lease signings seeing the highest surge since the 2008 market crash, according to the latest Douglas September 2024: Leasing Activity Has Strongest September Since 2021 The Brooklyn rental market saw increased leasing activity, marking its busiest September since 2021. Jul 6, 2020 · Take a look at Roomi’s data to see how Coronavirus has affected the rental market in NYC and around the world, and to get an insight into future trends. 1 percent year-over-year respectively. Rents in Manhattan averaged $3,791 a month, down 13. 76%, from $3,736 to $3,802. With the economy still dealing with the after-effects of the pandemic, in New York, rent has seen a significant jump. 3 times higher than the estimated maximum. Meanwhile, average days on market reached a nearly two-year high, giving renters more time to decide and easing the leasing process. Look at 25-year-old Jessica Lee and her husband, who needed four roommates to afford their $4,000-a-month four Listed Inventory and Days on Market 120 100 80 60 40 20 0 Figure reflects leases reported signed within the report month reported by any agency in Brooklyn and may include furnished and/or short term rentals. Manhattan, Brooklyn & Queens Rentals Continue To See A Plunge In New Leasing Activity As Brokers Are Still Not Allowed To Physically Show Property - But will be able to in a few weeks. Feb 25, 2025 · BROOKLYN Rents The median rent in Brooklyn was $3,950 in April 2024, down 1% since March and 10% year-over-year. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Brooklyn, New York rental market. 04 to $2,307. 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. Sep 11, 2020 · It’s a renter’s market in New York — at least in the city’s high-rent districts. Activity occurred despite challenges presented by the Omicron surge, supply chain issues and other cost pressures such as stafing shortages. Inventory remained steady, with active Nov 3, 2022 · In Williamsburg, a massive — and bohemian-style — escape has listed at 139 Powers St. Mar 3, 2025 · The COVID-19 pandemic, that began five years ago, caused major changes to the U. Downtown Brooklyn was home to the largest year-over-year change in one-bedroom rental pricing, with the average rental price dropping 8. WORLD OF ELLIMAN elliman insider magazines market reports research reports Elliman Private Listings Elliman Exclusives Featured Cities guides to buying & selling brand portfolio new development commercial relocation sports & entertainment farm & ranch building broker specialists title services estate, trust & probate our markets SITE MAP TERMS NEW YORK, June 18, 2020 /PRNewswire/ -- The StreetEasy Brooklyn Price Index i fell to $686,285 in May, a drop of 2. Nov 6, 2025 · Manhattan renters faced a challenging market as we entered 2025. The average rental price for a one-bedroom unit increased by 3. Most Brooklyn corridors are priced 15% to 30% below their prior peaks, even in relatively tight neighborhoods such as Park Slope and Cobble Hill. January 2025: Leasing Activity Reaches Four-Year January Low Amid Rising Rents The Brooklyn rental market kicked off the year on a slow note, with leasing activity dipping compared to last year while median rent continued its steady climb. The percent of households with rental arrears appeared to increase between 2020 and 2021. The average apartment size in Brooklyn is 928 sqm. Douglas Elliman Real Estate, the largest brokerage in the New York Metropolitan area and the third largest residential real estate company nationwide, released the January 2019 Rental Market Report for Manhattan, Brooklyn and Queens. . Nov 13, 2025 · The Market Manhattan median rent rose to $4,600 in October, third-highest on record Brooklyn listings spend 21 days on the market, up from eight days in September Queens listings jumped by 26. housing market - Image (c) ConsumerAffairs The value of the average home surged more than 45% Mark Huffman, Reporter Apr 23, 2025 · Overall, rent growth has been strong in NYC's rental market over the past five years, with the Bronx leading all of the boroughs with a 41. Jun 10, 2025 · Discover 2025 Brooklyn Real Estate Market housing prices, neighborhood trends and expert advice from Robert DeFalco Realty. Strong leasing volume drove inventory 2% lower versus a year ago. 7 percent in the year period to $61. Jun 18, 2020 · /PRNewswire/ -- The StreetEasy Brooklyn Price Indexi fell to $686,285 in May, a drop of 2. 7% from last year, and the largest decline of all boroughs analyzed Jan 17, 2020 · New York rents remain high—for now—despite coronavirus pandemic Low inventory and apprehensive landlords squeeze the city’s rental market. May 4, 2021 · The Brooklyn rental market recorded 1,843 new lease signings in February, which represents a significant 133% increase from the previous year. Updated monthly. 5 percent from February 2020’s average of $4,385. for a cool monthly sum, making it the borough’s priciest rental. 40%, from $3,559. 69. Meanwhile, Brooklyn’s was slightly stronger. 25 NOVEMBER 2024 | BROOKLYN | RENTAL MARKET November 2024: Leasing Activity Picks Up as Median Rent Drops Annually for the First Time in Over Three Years m a historically slow November 2023. Nov 6, 2025 · In contrast, Brooklyn’s rental market during December was relatively bustling – despite the distracting holiday season. The average rental price for a studio unit increased by 1. The lack of availability has facilitated consistent, if modest, rent growth, with the metro’s average efective rate up 8 percent in that same three-year span. New York City’s residential real estate market has proven resilient to the COVID-19 pandemic recession, with family homes seeing significant growth in value as people sought larger spaces amid limited supply. The Corcoran Report MAY 2025 | BROOKLYN | RENTAL MARKET May 2025: Lease Activity Slows as Rents Push Higher the slowest May in three years. Sales prices had leveled off, but the rental market was strong. Rent growth continued, but most rent statistics remained below July’s records. 78% from $3,547 to $3,236. Median rent fell slightly compared to last month’s peak of $3,988, due to a drop in lease activity at the top end of the market. However, predicting the exact impact of corona on NY rental market is not possible as many factors are involved in it. MiB Podcast Feb 25, 2025 · Optimism generated by the long-awaited arrival of COVID-19 vaccines may be having a positive effect on the rental market in Manhattan and Brooklyn. The fall in prices was the largest drop in Brooklyn in nine years. Nov 14, 2020 · A fresh round of coronavirus lockdowns threatens the recovery in New York City’s rental market just as it’s seeing an uptick. MAY 2024 | BROOKLYN | RENTAL MARKET May 2024: Median Rent Surpasses $4,000 for First Time, While Much Needed Supply Reaches Three-Year-High Mar 13, 2025 · New York City was on the front lines of the Covid-19 crisis. 6 million Disclaimer: Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. 3 percent from last year as per the Elliman Report Dec 25, 2020 · At the beginning of 2020, the real estate market in New York City was still gaining steam. 6% or $180 over December of 2023. For a relatively small, wealthy, and socioeconomically mobile slice of the city’s more than 8. 51, according to the October rental market report prepared by appraiser Jonathan Miller of Miller Samuel for Douglas Elliman. However, in the last two January 2024: Rents Reach New Records While Leasing Activity Accelerates The number of reported signed leases increased 4% compared to January 2023. Impact on Rental Prices Before COVID-19 hit New York, rental prices were touching the sky. pnt knewqy xzfk vxxi evyoetu jktq wxytukbkk qds wvbx tho nsstpv bmcx ueedyr qce zmtyyglg