MANHATTAN All price indicators for the Manhattan rental
market increased as the New York City
economy continued to improve and mortgage
lending conditions remained tight. Median
rental price increased from the prior year level
for the ninth consecutive month, up 4.4% to
$3,235. Average rental price expanded 2.6% to
$3,993 and average rental price per square foot
rose 1.2% to $52.26 respectively from the same
period last year…

BROOKLYN All Brooklyn rental price indicators increased
above prior year levels. Median rental price
rose 5.3% to $2,948 and average rental price
increased 6.5% to $3,259 respectively from
the same period last year. Average rental price
per square foot increased 15.7% to $43.08,
reflecting the strength of price growth within the
smaller sized apartment markets. The median
rental price of a studio apartment was up
23.1% year-over-year. The median rental price
for 1-bedrooms was up 13.3%, 2-bedrooms
were up 3.4% and 3+ bedroom were down
4.3% over the same period…

QUEENS Rental prices for the northwest region of Queens
were generally lower than the same period last
year, but the declines were exaggerated by the
continued shift in the mix towards smaller units.
The market share of studios and 1-bedrooms
increased as 2-bedrooms and 3-bedrooms
declined. Median rental price fell 8.2% to
$2,525 from the same period last year. Average
rental price decline 9.5% to $2,681 over the
same period. Median rental price was $710
below the median rental price in Manhattan and
$423 below the median rental price in Brooklyn…