MNS Releases Its Year-End Rental Report

The MNS year-end rental report on Brooklyn finds that Brooklyn rents are at “all time highs.” According to MNS, the yearly average rents were $1,812 for studios, $2,400 for one-bedrooms and $3,065 for two-bedrooms. That’s an overall increase of 8.6 percent since 2011. They also report that studio prices have risen as inventory decreased, especially in neighborhoods like Bay Ridge, Cobble Hill, Bushwick and Prospect Lefferts Gardens (studio prices increased by 34 percent in Bed Stuy and by 38 percent in Bushwick since 2011). Overall, one bedroom apartments increased by 11.67 percent and two bedrooms increased by 5.85 percent. MNS estimates more than 1,500 rental units coming to the Brooklyn market this year. The majority of the inventory is coming, unsurprisingly, to Downtown Brooklyn and Williamsburg.
Brooklyn Rental Market Report [MNS]