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News / City Life

Brooklyn's rent prices grew at triple the rate of Manhattan's in 2014

Brownstone Brooklyn

As if we didn't already know Brooklyn's real estate market is out of control—Real estate site Zumper recently ran an analysis on median rent prices for one-bedroom apartments in Brooklyn and Manhattan, and found Kings country rents increased by a whopping 10.2 percent in 2014. The average price? $2,750 a month for a one-bedroom apartment.

In 2014, Manhattan rent prices increased by 3.8 percent overall (over twice the rate of inflation.) The neighborhoods with the largest rent increases included NoMad, Soho and Two Bridges which all saw an increase in median rent of over 15 percent.

The real story in the data, however, was the extraordinary rise in rents across the East River. Rents in Bushwick, Crown Heights and Kensington increased by more than 15 percent this year. Check out the neighborhood-by-neighborhood infographics below to see how your ‘hood fared over the last year. Then head over to our weekly affordable apartments listing to find some rare bargains in this crazy market.

 

 

 

 

 

 

 

 

 

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