MANHATTAN Manhattan rental prices pushed higher as
a booming local economy and tight credit
conditions kept the pressure on. Median rental
prices were above the prior year level for the
fifteenth consecutive month, but still short of
the record 23-month period set in 2011 through
2013. Median rental price increased 2.4% to
$3,380 from the same period last year. Average
rental price increased 4.6% to $4,081 over the
same period, a record four consecutive months
above the $4,000 threshold…

BROOKLYN After showing signs of weakness a few months
ago, all Brooklyn rental price indicators moved
higher for the second consecutive month.
Median rental price increased 4.8% to $2,933
from the same period last year to the third
highest median rental price tracked since 2008.
Average rental price increased 4.3% to $3,252
from the same period last year. Overall prices
were skewed higher by the surge in market
share of larger sized rentals…

QUEENS Price indicators in the northwest region
of Queens moved lower as the rental mix
continued to shift to smaller units. The market
share of 1-bedroom rentals jumped 26.7% from
the same month last year. As a result, median
rental price fell 12.4% to $2,597 over the same
period. However, median rents rose across
one, two and three bedrooms by 4%, 3% and
27.7% respectively…