Brooklyn’s Cheapness Increasingly More Myth Than Fact


One of the biggest advantages of living in Brooklyn is the cheaper rents. While your Manhattan friends boast of their walks to work and how they never have to wait 30 minutes for a late-night subway, you, a Brooklynite, smugly sit back and ponder your cheap rent and spacious apartment. Not so fast, though, because a new report shows that Brooklyn rents on average are higher than you’d think.

The average rental prices, Brooklyn-wide, for studios, one-bedrooms and two-bedrooms:

It’s not that easy to see, but that’s a little under $1800 for a studio, $2,239 for a one-bedroom, and $2,835 for a two-bedroom. Keep in mind that there’s (obviously) disparity between neighborhood prices and that the report doesn’t include all Brooklyn neighborhoods.

We weren’t as taken aback by those numbers as we were by the way the prices have gone up over the past year. Here’s what’s happened to two-bedrooms:

If it keeps going like that, we’re about to become London. Where will the disaffected youth live now? Queens? (Actually, yes, Queens is very nice. Don’t sleep on it.)

The report explains that it left out “ultra-luxury” apartments over $10,000 a month so as not to skew the results and that the data came from MNS’s pool — we’ve called them to find out just how big of a sample that is and will update when we hear back. In the meantime, start looking for a rent-controlled apartment (our main goal in life).

[via Brownstoner]