Report: Rents Still Way Pricey, But Studios a Tad Cheaper

The real estate firm MNS released their monthly check-in on Brooklyn’s rental market, and several neighborhoods posted decreases in monthly rents (maybe because it’s the slowest time of year for the rental market?). The neighborhoods the report says have seen slight decreases in average rents are Clinton Hill, which had an average decrease of $48 on all unit types since January, and one- and two-bedrooms in Boerum Hill and Park Slope, which saw average decreases of $182 and $87, respectively. Meanwhile, the report notes that there are deals to be had on smaller apartments in certain neighborhoods: For example, in Dumbo studio rents went down $13 on average, and one-beds were down $81. And the report’s press release touts other studio “steals”: “Head to Bay Ridge and Bed-Stuy where studio apartments can be found for just under $1,100 per month. Since January, prices on studios have also dropped in Bushwick and Cobble Hill.” As the charts above show, with the exception of studios, rents have gone up substantially on one- and two-bedrooms in Brooklyn compared to this time last year. The average Brooklyn one-bedroom will now set you back $2,294 a month, and a two-bedroom will cost you 2,950 a month, at least according to the report’s findings. See the whole thing here.
February 2012 Brooklyn Rental Report [MNS]