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Elliman Report: Manhattan, Brooklyn & Queens Rentals 6-2014

MANHATTAN The Manhattan rental market continued to challenge consumers with rising prices, falling vacancy rates and declining use of landlord concessions. Median rental price increased 3.3% to $3,300 from the same month last year, the fourth year-over-year monthly increase and the highest level in more than 5 years…

BROOKLYN Brooklyn rents remain near record highs, but rents have been stabilizing over the past 6 months. Median rental price posted a record 13 consecutive year-over-year monthly increase, rising 2.3% to $2,800. The June median rental price remained essentially the same since January…

QUEENS After 4 consecutive months of year-over-year gains in median rental price, the northwest region of Queens, including Long Island City, Astoria, Sunnyside and Woodside, slipped 0.5% to $2,830 from the same month last year, but remained on par with Brooklyn levels…

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