Rents Continue to Climb; Price Per Square Foot Jumps 14.1 Percent

It’s nothing you haven’t heard before, but we’d be remiss not to mention rents increased again in January. Specifically, in Brooklyn, average rents were up 4.5 percent to $3,201 a month, the median increased 2.5 percent to $2,901 a month, and price per square foot zoomed up 14.1 percent to $40.33, vs. the same period a year earlier, according to a report from Douglas Elliman. By the way, the part of Queens closest to Manhattan is now just as expensive as northern and northwest Brooklyn, a story in DNAinfo pointed out.

Brooklyn Rental Report January 2015 [Douglas Elliman]