Peeter Viisimaa / iStock.com Brooklyn rents are on the rise again, but last month was not as fast-paced as usual. Average rent in the borough remained stable with just a .2 percent increase in price, climbing from $2,711.87 in December of last year to $2,717.39 this January, according to the MNS January market report for Brooklyn. While monthly trends showed little shifts, average rent in January 2015 was 1.92 percent less at $2,666.26. The year-over-year increase rules out seasonality as a factor and isolates demand as a key element in rising average rent in Brooklyn. Moreover, month-over-month inventory levels increased 2.67 percent across the borough. In December, Brooklyn contained 3,296 rental units, as compared to 3,384 in January. The high and low neighborhoods in Brooklyn ...
- While monthly trends showed little shifts, average rent in January 2015 was 1.92 percent less at $2,666.26.
- The most expensive neighborhood was Dumbo across all unit types and sizes.
- Crown Heights studio prices saw the largest monthly decreases with a 4.36 percent drop in average rent, or $74.
- According to the report, high-priced units entered the market while less expensive units exited last month.