The sky isn’t falling, but Brooklyn’s rent is

Falling rent calls for a celebration

Falling rent calls for a celebration

Usually, news about rent in Brooklyn is bad. You have to pay it, for starters. Also, your landlord could be holding out on the fact that you live in a rent-controlledstabilized building. It feels like everything is arrayed against you, but there is some good news: turns out that rents in Brooklyn are going down for the second straight month. Yeahhhh buddy!

A report from Douglas Elliman Real Estate pokes holes in your assumption about everything being terrible. Well, our assumption too we guess, but hey, April was such a long time ago! According to the report, the median price for a rental in Brooklyn went down from $2,700 per month to a, uh, reasonable (?) $2,579 per month. Which, granted, is still expensive, but hey, any drop is a good drop, right? And there was even an increase in the amount of rentals in the market, as people finally got sick of bullshit rent increases from their landlords and tried to find something more reasonable.

Since our previous apocalyptic teeth-gnashing over rent, the median rent for a 2-bedroom apartment managed to dip under the $3,000 mark, settling in at $2,972. In fact, the only kind of apartment that saw its rent go up was Brooklyn’s stock of 3-bedroom apartments. But we suppose that can be livable if you do something like stick a couple in one of the bedrooms and then pray that they don’t have really loud sex or a terrible breakup before your lease is up.

One Comment

  • I think you meant rent stabilized, not rent controlled. There is a big difference between the two in NY.