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South Bronx Rent Increases Greatest In The City

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Dropping rents in cities across the country may have left some New Yorkers scratching their heads. Although one-bedroom rents dropped 9.1 percent overall in the city over the course of 2016, they increased substantially in many neighborhoods, according to data gathered by Zumper.com.

Especially in the South Bronx, where one-bedroom rents rose most in 2016

% Increase Neighborhood, Borough $ Increase
+15% Hunts Point, Bronx $1,100 to $1,260
+14% Mott Haven, Bronx $1,300 to $1,480
+13% East Flatbush, Brooklyn $1,320 to $1,490
+11% Melrose, Bronx $1,250 to $1,390
+10% Foxhurst, Bronx $1,200 to $1,325
+10% Woodstock,  Bronx $1,180 to $1,300
+10% Jamaica, Queens $1,500 to $1,645
+10% Flatbush, Brooklyn $1,665 to $1,825
+09% Greenpoint, Brooklyn $2,450 to $2,680
+008% East Harlem, Manhattan $2,120 to $2,300
+08% Gowanus, Brooklyn $2,100 to $2,275
+08% Lower East Side, Manhattan $2,496 to $2,700
+06% Windsor Terrace, Brooklyn $2,235 to $2,375
+06% Central Harlem, Manhattan $2,050 to $2,175
+05% Park Slope, Brooklyn $2,525 to $2,660

In the 15 New York City neighborhoods where rents rose the most, the South Bronx dominates. The once-blighted area has seen a recent surge in development. The New York Times recently named it a recommended place to visit.

One-bedroom rents in the Hunts Point neighborhood rose almost 15 percent, the greatest increase in New York City last year. And while median rents in the South Bronx are still lower than elsewhere, data suggests gentrification is taking hold.

 

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