- Miller Samuel Real Estate Appraisers & Consultants - https://www.millersamuel.com -

[Chart] The Manhattan-Brooklyn Median Rental Price Smackdown

2014-2MBmedianspread [1]

The rental price spread between Brooklyn and Manhattan [2] is narrowing. At $210, the month of February saw the lowest differential between the median rental price of Manhattan and Brooklyn’s North and Northwest regions [3].

While Manhattan rents have leveled off, Brooklyn rents have continued to rise sharply – a combination of rising demand as well as a shift in the mix towards luxury rentals.

A decade ago, who would have thought we’d be talking about Brooklyn this way?