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Elliman Report: Manhattan, Brooklyn & Queens Rentals 10-2014

MANHATTAN Manhattan rental prices continued to press higher as the local economy improved and mortgage lending conditions remained tight. Median rental price was above prior year levels for the eighth consecutive month, rising 3% to $3,246. Average rental price followed the same pattern, rising 3.4% to $3,994 over the same period…

BROOKLYN After two consecutive months of declines, Brooklyn rents returned to their rising ways. Median rental price increased 5.9% to $2,858 from the same period last year to their highest level since March. Average rental price increased 2.2% to $3,187 over the same period…

QUEENS Housing price indicators for the northwest region of Queens showed mixed results in October. While median rental price increased 3.5% to $2,743 from the prior year period, average rental price declined 5.2% to $2,718. Average rental price per square foot increased 10% to $42.22 over the same period…

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