Rents up 10 Percent in Brooklyn Since January

Average rents have increased 10 percent in the 11 months since January, with rents in bargain areas increasing the most, according to Curbed. Boerum Hill had the highest increase, with rents up 11.5 percent since November 2013, according to a story in DNAinfo. The second-highest jump was in Prospect Lefferts Gardens, where rents climbed 7.2 percent but are still relatively low overall, said DNA.

The stories were based on conflicting reports; the study from MNS quoted by DNAinfo found overall average rents in Brooklyn increased a mere 2 percent since November 2013. Part of the reason for the discrepancy is the reports cover different areas of Brooklyn. Curbed based its story on data from Zumper, which, like MNS, also found rents increased most sharply in previously inexpensive areas such as Bushwick and Crown Heights — but also in Cobble Hill and Kensington. All four areas saw rent increases of more than 15 percent since January, according to Zumper.

Meanwhile, a report from Douglas Elliman, also reported by Curbed, found median rents in Brooklyn increased 3.1 percent in the year period ended in November. The median rent in Brooklyn overall is now $2,948 a month, according to Douglas Elliman. But anyway you slice it, rents are up.

The Story of 2014: Brooklyn Rents Rose 10 Percent Since January [Curbed]
Brooklyn Rents Continue to Rise [Curbed]
Rent up 7 Percent in Crown Heights and Prospect Lefferts Gardens Since 2013 [DNA]
Photo by Mary Bakija