Rent growth in New York City slows down

StreetEasy predicts Downtown Manhattan rental prices to see the most growth in 2017
  • Median rent in Manhattan increased at half the pace it did through August 2015.
  • Brooklyn's median rent increased 1.9 percent annually, which is the slowest since December 2010.
  • Rent in East Brooklyn increased 5 percent annually, higher than any other submarket.

Although 2015 was a banner year for growth in some New York City submarkets, 2016 is not staying on the same track. A new StreetEasy report shows that rent prices have slowed to nearly half the pace of the same time last year in parts of the city.