The average rental price in Manhattan fell to $3,989 per month in March, a 1.1 percent drop from the month prior and a two-year low for the borough, says Douglas Elliman’s March 2016 rental report, prepared by Miller Samuel, Inc.
- The average rent in Manhattan represents a 3.3 percent fall from March 2015, when price was $4,126 on average.
- Before March, Manhattan rents were on a twenty-four month upward drift.
- Queens, too, softened in average pricing, with a 3 percent month-over-month decrease and a 2.1 percent year-over-year drop.
- Brooklyn’s average rent prices were the only to rise in March both monthly and annually.
Let's make 2018 your breakout year!
Join real estate's best to unlock growth at Connect SF, July 17-20, 2018