Hello! Were you enjoying your Thursday? It is the day before Friday after all, and you know what they say: “Thank God it’s Friday because life is an almost unceasing nightmare but at least we don’t have to work tomorrow.” Anyway, if you’re feeling good weekend vibes already, we’ve got a damper on it for you: after a few months of non-apocalyptic rent news, the latest Douglas Elliman report is out and Brooklyn rents are higher than ever.
According to the Elliman market report, Brooklyn rents spent a couple months falling, but now they’re roaring back up along with the mercury. The median rent in northwest Brooklyn is now $2,961/month, which is 5.6% higher than last year’s $2,805/month median rent, which is also incredibly high and not something you want to think about. We’d take that over this news of record high rent though, because no matter what kind of apartment you’re looking at, you’re looking at bad news. Studios? $2,294/month. 1-bedrooms? $2,809/month. 2-bedrooms? $3,461/month. 3-bedrooms? $3,856/month.
Is there good news? Well, we suppose the fact that this isn’t the median rent for the entirety of Brooklyn is helpful, but it’s not like things are great everywhere else. MNS Realty says that average rent around the entirety of Brooklyn is $2,724/month, which is also a whole hell of a lot of money. If there’s any good news to be had, it’s that despite the fact that Brooklyn’s median rent is a mere $400 less than Manhattan’s, that’s still better than the time last year it was just $210 less to live here.
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