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Elliman Report: Manhattan, Brooklyn & Queens Rentals 9-2014

MANHATTAN The rental market remains challenging for consumers. Large gains in New York City employment and a difficult mortgage lending environment continued to place upward pressure on the market. For the seventh consecutive month, median rental price was higher than the prior year period. Median rental price was $3,262, 5.4% above the same period last year…

BROOKLYN Rents fell short of prior year levels for the second consecutive month after rising for a blistering 14-consecutive months. Median rental price declined 3.8% to $2,743 from the same period last year. In fact, median rents have been largely stable in 2014 on a month over month basis, hovering around $2,800…

QUEENS Rental price indicators for the northwest region of Queens were mixed for September. Median rental price fell 6.2% to $2,495 as compared to the same period last year. Average rental price increased 1.5% to $2,787 and average rental price per square foot increased 4.4% to $40.75 respectively over the same period…

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