< All Market Reports

Elliman Report: Manhattan, Brooklyn & Queens Rentals 8-2016

MANHATTAN Manhattan rental price growth has showed a bumpy but generally stable trend for each month in 2016 on a year over year basis. Median rental price was $3,399 in August, essentially unchanged from the same period a year ago. The market share of concessions was 12.1%, up from 7.4% a year ago. When considering concessions, the net effective median rent slipped 0.5% to $3,359 from the year ago period…

BROOKLYN For the second consecutive month in 2016, the Brooklyn median rental price declined from the same period a year ago. Median rent declined 1.9% to $2,895. Average rental price followed the same pattern declining 1.5% to $3,219 over the same period. The number of new leases jumped 35.8% to a record 1,495…

QUEENS The Northwest Queens rental market, including Long Island City, Astoria, Sunnyside and Woodside, showed gains across all price trend indicators. Median rental price was $2,895, up 5.3% from the same period a year ago and was identical to the Brooklyn median rent this month…

Download Now

Get Weekly Insights and Research

Housing Notes by Jonathan Miller

Receive Jonathan Miller's 'Housing Notes' and get regular market insights, the market report series for Douglas Elliman Real Estate as well as interviews, columns, blog posts and other content.

Follow Jonathan on Twitter

#Housing analyst, #realestate, #appraiser, podcaster/blogger, non-economist, Miller Samuel CEO, family man, maker of snow and lobster fisherman (order varies)
NYC CT Hamptons DC Miami LA Aspen
millersamuel.com/housing-notes
Joined October 2007