Bushwick Rents Back to "Normal"

Rents in Brooklyn fell 1.77 percent from February to March, according to a monthly rental report out from MNS. Over in Bushwick, rents are now back to “normal” after a big leap of 17 percent in February, which the report attributed to one building: 949 Willoughby Avenue. The monthly report is based on MNS’s own database of asking rents for MNS listings as well as data from REBNY Real Estate Listings Source (RLS), OnLine Residential (OLR.com) and R.O.L.E.X. (Real Plus). Just to double check, we took a quick look at Craigslist this morning, and sure enough, asking rents in Bushwick have increased dramatically since we lived there in 2009. FWIW, one-bedrooms started at $1,549, with a three bedroom listed as high as $2,800. (Three years ago, we rented a three-bedroom for $1,600, and there were plenty of one-bedroom railroads on the market for $1,100 and $1,200.) MNS put average March rents in Bushwick at $1,750 for a studio, $1,883 for a one-bedroom, and $1,977 for a two-bedroom.
Rents Drop to Normal After Bushwick’s “Abnormal” Price Leap [DNAinfo]
Bushwick Rents Increase 20 Percent, Down Elsewhere [Brownstoner]
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