MANHATTAN The Manhattan rental story remained the same
in October: more price gains at the lower end
of the market, a strong local economy and tight
credit conditions. Median rent increased from
the same month last year for the twentieth
consecutive month, up 4.5% to $3,391. Average
rental price and average rental price per square
foot showed a similar pattern…

BROOKLYN Rising prices, shorter marketing times and
fewer concessions than last year characterized
the October rental market in Brooklyn. Median
rental price rose 4.3% to $2,981 from the same
period a year ago as well as to the second
highest level on record. Median rental price
gains were seen across all size categories
except for the 3-bedroom market, which fell
2.1% from the year ago quarter…

QUEENS Price trend indicators showed mixed results in
October with median rental price slipping 6.4%
to $2,568 and average rental price rising 8.1% to
$2,939 respectively from the same period last
year. Price trends continued to show volatility
across the market as new development product
entering the market expanded 6.9% to 32.7% of
new rental activity…