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Elliman Report: Manhattan, Brooklyn & Queens Rentals 12-2015

MANHATTAN Manhattan rental price indicators continued to rise, although the rate of growth cooled since the summer on a year over year basis. Median rental price increased 3.1% to $3,350 from the same period a year ago, rising for the 22nd consecutive month. Average rental price increased 4.8% to $4,149 to the highest level in nearly six years…

BROOKLYN Brooklyn rental price gains have slowed since the summer months with most of the weakness seen in larger apartments. Median rental price did not rise for the second straight month after seven months of consecutive year-over-year gains. Median rental price was unchanged at $2,899 from the year ago quarter…

QUEENS Rental price trends in northwest Queens remained volatile as all rental price indicators fell short of year ago levels. Median rental price declined 10.1% to $2,551 from the same period a year ago. Average rental price was $2,644, down 12.3% over the same period…

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