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Elliman Report: Manhattan/Brooklyn Rentals 12-2012

MANHATTAN For the third consecutive month, the year-over-year pace of median rental price growth eased. Median rental price increased 0.8% from the prior year period to $3,150. Year-over-year gains in this metric for the prior three months were 10.2%, 1.6% and 1.4%. Compared to the same period last year, average rental price was up 10% at $3,973, while rental price per square foot was down 4.5% to $49.88…

BROOKLYN Median rental price increased 7.6% from the same month last year to $2,637. This rate marked the fourth highest level over the past 5 years; the three highest levels were all recorded in 2012. Compared to the same period last year, average rental price edged 5.6% to $2,880, while average rental price per square foot jumped 16.7% to $36.01…

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