Rents in Brooklyn have skyrocketed to an average of $3,035 in July, up 8.2% from July of last year.
The average rent in Manhattan was $3,822 in July, up 1.7%.
Brooklyn luxury units — those priced in the top 10% of the market — led the surge, with the average rent in this segment hitting $6,007, up 8.8%.
Source: DAILY NEWS
The average rent for an apartment in New York City (excluding Staten Island) is $3,017 a month. This is the first time the average rent has exceeded $3,000.
“The average New York rent was more than 50 percent higher than second-place San Francisco, where rent grew 1.1 percent from the first quarter to $1,998.82,” reports Reuters. “Oklahoma City was the cheapest market, at an average of $571.03 a month, up 0.6 percent