Brooklyn prices went up once again in March, according to the latest MNS Brooklyn market report, which is encouraged further by the upcoming renting season.
- Crown Heights, Prospect Lefferts Gardens and Fort Greene had studio rent price increases of 15.98 percent, 15.46 percent and 12.66 percent over the past year.
- Studios largely led to the overall rent increase in Crown Heights and Prospect Lefferts Gardens, the report says, as they were neighborhoods with the largest annual increases in overall rent.
- The least expensive neighborhood in March overall was Bay Ridge.
- Although Brooklyn inventory increases were relatively low in March, Barrocas said this has to do with high absorption rates and the speed at which Brooklyn units are being turned over.