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Elliman Report: Manhattan, Brooklyn & Queens Rentals 3-2015

MANHATTAN Manhattan rental price indicators continued to press higher. An improving local economy and tight mortgage lending conditions have helped keep upward pressure on rents. The median rental price increased 6.1% to $3,395 from the same month last year, the second highest level since January 2008 when the metric was first recorded. Median rent increased year-overyear for the thirteenth consecutive month…

BROOKLYN For the second consecutive month, Brooklyn rental price indicators were mixed, after seeing 5 consecutive months of year-over-year gains. The median rental price was $2,893, essentially unchanged from the prior year period. Average rental price was $3,231, showing a similar pattern with a nominal change over the same period…

QUEENS March rental price indicators in northwest Queens were mixed again. Median rental price increased 3.7% to $2,952 from the same period last year. Average rental price slipped 3% to $2,989 over the same period. Studio and 1-bedroom rental price indicators showed a year-over-year increase in median rental price of 14.5% and 8.1% respectively…

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