Rental Prices in NYC - Rava Realty

Rental Prices in NYC

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Median rental prices rose across Manhattan, Brooklyn and Queens. In Brooklyn, the median rental price rose 4.1 percent year-over-year to $2,968. Meanwhile, Manhattan’s median rental price rose 6 percent to $3,419, according to the report.In Queens – where rents declined in recent months – the median rental price jumped 14 percent to $3,016. “What it has to do with is a concentration of new development units that make up the market,” Miller said to The Real Deal. In the month of July, he said, 36.1 percent of the rental activity was in new development buildings.

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