MANHATTAN Overall Manhattan price indicators continued
to rise, as median rental price posted an 11th
consecutive year-over-year gain, climbing to
the third highest level since 2008. The drivers
of rising rents remain the same: tight credit,
rapidly rising employment and a growing
economy. Median rental price was $3,299, up
5.9% from the same period last year…

BROOKLYN Median Brooklyn rents were above prior year
levels for the 4th consecutive month and for
18 of the past 20 months. All overall rental
price indicators were above prior year levels:
median rental price was $2,901, up 2.5%;
average rental price was $3,201, an increase
of 4.5%; rental price per square foot jumped
14.1% to $40.33. The number of new rentals
surged 54.5% to 683 from the same period
last year as tenants continued to resist rental
price increases at lease renewal and search
for greater affordability elsewhere…

QUEENS Overall rental prices in northwest Queens
continued to rise. Median rental price jumped
30.7% to $2,905 from the same month last year.
Average rental price increased 22.3% to $2,929
and rental price per square foot increased 7.7%
to $41.15 respectively over the same period. The
$4 difference between the median rental price
for the region and the Brooklyn median rental
price was nominal…