NEW YORK CITY-Residential brokerage firm MNS reports that average apartment rents in Brooklyn have increased in the past year by 4.08% to $2,631 a month.
The average apartment rent in Brooklyn in February 2013 was $2,528. MNS released its February Rental Market Report for Brooklyn today. Andrew Barrocas, CEO of MNS, says that the Bedford-Stuyvesant section of the borough saw the largest increase over the past year in average asking rent with a 7.2% rise from $1,715 to $1,840.
Since January of this year, average apartment rents in Brooklyn increased 0.6%.
Apartment rents in Fort Greene have risen for six consecutive months and now average $2,994 a month. The main driver for the average rental price surge in Fort Greene is the availability of newly developed units, Barrocas says.
On a year-over-year basis, Williamsburg rents have risen 4% from $3,231 to $3,359. With several residential projects in the pipeline, further increases there can be expected, according to the MNS report.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
