Rent prices for Brooklyn apartments and rental homes continue to grow both monthly and yearly, according to the MNS Brooklyn market report for April. As more inventory hit the market from an influx of overturning leases, neighborhoods saw average price surges, especially on a yearly basis.
- Between March and April of this year, Brooklyn’s average rent rose a mild 1.84 percent.
- Cobble Hill featured the highest month-over-month rent growth at 6.76 percent, prompted by shifting inventory.
- Dumbo studios sat on the market for 84 days, the longest time among all neighborhoods last month.
- Williamsburg rents dropped 6.33 percent since last year.