MANHATTAN Manhattan median rental price continued to
grind higher in response to a strengthening
local economy and tight credit conditions. The
core price indicator rose 2.1% to $3,369 from
the same period last year, up for the sixteenth
consecutive month. Average rental price
slipped 1.8% to $4,007 over the same period,
but remained above the $4,000 threshold
for the fifth consecutive month. Rental price
gains were concentrated in lower priced

BROOKLYN All rental price indicators for the Brooklyn
market moved higher than prior year levels for
the third consecutive month. Median rental price
increased 5.9% to $2,964 from the same month
last year to the highest recorded level since
January 2008, when the metric was first tracked
for this report. Average rental price was $3,252,
up 2.4% year-over-year to the third highest level
reached since 2008…

QUEENS The northwest region Queens showed weaker
results as the overall price indicators moved
lower. Median rental price fell 10.7% to $2,528
from the same month last year. Average rental
price slipped 5.1% to $2,749 and rental price
per square foot fell 12.1% respectively over
the same period. The results were mixed
across apartments sizes..