Crown Heights

Crown Heights’ rent up 10.5% in a year, BK’s biggest increase

crown heights
More like Rent Heights. You get it? Because the rent? You get it. via Flickr user emma.maria

Are you still on that “Oh let’s all move to Bed-Stuy?” tip? Booooring, you’re like a million years old. The hot new neighborhood to drive up rents like there’s no tomorrow is Crown Heights, wake up grandpa. All the kids are moving there and having fun, so much so that the rents in Crown Heights went up a whole 10% in the course of a year, according to a MNS Real Estate report. That’s the biggest increase in all of Brooklyn over a year, so uh, congratulations Crown Heights?

The rent in the neighborhood went from a princely $1,884 per month in September 2013 to a kingly, or at least larger prince, $2,082 per month in September 2014. The MNS report didn’t mention any reasons now, but if we had to hazard a guess, it would have to do with the fact that people love hanging out along Eastern Parkway and the novelty of the Prospect Park shuttle. That wears off though.

Overall, average rents in Brooklyn kept climbing over the year, going from $2,665 per month to $2,792 per month, because that’s just the world we live in these days. Was there any good news anywhere? Well, in Greenpoint and Bushwick, rents dopped 5.1% and 7.1% respectively from September 2013 to September 2014. Still, those were drops from new highs, and anyway, once those Girls bus tours start up, the rent is gonna shoot up faster than Johnny Thunders in a filthy bathroom.

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