Rents Rise Dramatically in Bed Stuy, Bushwick

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Rents are still increasing in Brooklyn, with the biggest increases happening in formerly affordable areas such as Bed Stuy and Bushwick, according to two reports out today.

In Bed Stuy, average rents were up 15.6 percent to $1,835 in November, vs. $1,587 in the same period last year, according to MNS. Over in Bushwick, average rents increased 13.5 percent in the same period, rising from $1,849 to $2,099.

On a per-square-foot basis, rents increased an average of 9.4 percent in November compared to the same period the year before, according to a report from Douglas Elliman.

Average rents overall in the borough increased 2.5 percent during the year, from $2,553 to $2,617, according to MNS.

Photo by Luna Park