NEW YORK CITY—The largest fluctuations in average residential rents in New York City have been in Harlem and Midtown East, according to a new report by the MNS Real Impact Real Estate brokerage firm. Rents in Harlem rose 20% from August 2014 to August 2015, while rents in Midtown East dropped by 11.6% during that same period.

The average rent in Harlem rose from $2,356 in August 2014 to $2,828 in August 2015. Midtown East experienced a decline from $3,954 in August 2014 to $3,497 in August 2015. MNS in its report attributed the sharp increase in rents in Harlem to the movement toward new construction residential buildings in the area.

Other key takeaways from the report included a slight increase in overall asking rents in Manhattan in August as compared to a month earlier. The average rent across Manhattan increased by 0.29% from $3,963 in July 2015 to $3,975 in August 2015. Listing inventory decreased by 2.91% from 8,663 rental units in July 2015 to 8,411 rental units in August 2015. 

Tribeca and Chelsea saw the largest shifts in inventory, with Tribeca inventory falling by 19.8%, and Chelsea increasing by 7.4%, MNS Real Impact Real Estate reports.

The largest percentage price increases were seen in studio non-doorman units in the Financial District, one-bedroom non-doorman units in Greenwich Village and two-bedroom non-doorman units in Soho, at 11.7%, 7.4% and 9.6% respectively.

The largest percentage decreases were seen in Soho in studio-doorman (-16.8%) and non-doorman units (-9.5%) and one-bedroom doorman (-9.3%) and non-doorman units (-13.8%).

Average rents in Brooklyn rose by .68% from July 2015 to August 2015 from $2,730.02 to $2,748.87 a month. Bushwick, Crown Heights and Park Slope sections of Brooklyn saw inventory levels increase from two to four times the inventory total of August 2014. Dumbo featured the most expensive rental apartments in the borough in August with studio, one-bedroom and two-bedroom apartment average rents at $3,158, $4,118 and $5,605 respectively.

MNS also reports that average monthly rents throughout Queens increased 2.12% from $2,104 in July 2015 to $2,148.77 in August 2015. Long Island City and Astoria comprise 70% of the borough's total available inventory. Long Island City sported the most expensive rental units in July with studios, one-bedroom and two-bedroom units averaging $2,481, $2,928 and $3,7775 in average rent respectively.