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Elliman Report: Manhattan, Brooklyn & Queens Rentals 4-2023

MANHATTAN  Rental market price trend indicators pressed higher this spring, reaching new records with the potential to see more despite rising listing inventory. The rental season typically peaks at the end of the summer. Median rent rose 8.1% year over year to a record $4,241 just one month after…

BROOKLYN  Median rent surged 14.8% yearly to a record of $3,500. Recordkeeping began more than fifteen years ago, in January 2008. The market share of landlord concessions slipped annually to 11.6% from 22.4% in the preceding year. The average landlord concession was 1.1 months of…

NW QUEENS  Median rent rose 12.8% yearly to a record of $3,525. Recordkeeping began in December 2011. The market share of landlord concessions slipped annually to 17.5% from 24.8% in the preceding year. The average landlord concession was 1.1 months of equivalent rent, down…

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