MANHATTAN…For the past three
months, median rent has increased yearover-
year. The percentage changes for
January, February and March 2013 were
2.6%, 4.7% and 6.7% after bottoming at
0.8% in December of 2012. The March
2013 increase of 6.7% exceeded the 5.1%
year-over-year increase in March 2012…
BROOKLYN…After posting no growth in
median rental price in January 2013,
rents resumed rising with a 7.2% gain
in February, followed by an 11.3%
increase in March. Average rental price
and average rental price per square foot
both rose by 11.5% in March over the
same period last year….