BRONX RENTAL MARKET REPORT
BRONX RENTAL MARKET REPORT ARCHIVE
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introduction
THE AVERAGE RENT IN BRONX HAS DECREASED THIS MONTH.
-
CHANGE
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$2,346APRIL 2023
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$2,330MAY 2023
A QUICK LOOK
Over the past month, the average rental price in the neighborhoods analyzed by this report decreased by 0.69%, from $2,346.49 to $2,330.35. Studio rental pricing increased by 0.70%, from $2,078.75 to $2,093.16. The average rental price for a one-bedroom unit decreased by 1.07%, from $2,265.65 to $2,241.47. The average rental price for a two-bedroom unit decreased by 1.58%, from $2,728.06 to $2,685.04.
The most expensive studio, and one-bedroom units were in Mott Haven; most expensive two-bedroom units were in Riverdale. Conversely, the most affordable studio units were in Riverdale, and most affordable one and two bedroom units were in Morris-University Heights.
Compared to this time last year, studio pricing is up by 8.65%, one-bedrooms are up by 4.2% and two-bedrooms are up by 2.05%. Overall, the year-over-year average rental price tracked by this report has increased by 4.21%.
Most Expensive:
- Studio: Mott Haven - $2,574
- 1 BD: Mott Haven - $2,842
- 2 BD: Riverdale - $3,120
Least Expensive:
- Studio: Riverdale - $1,827
- 1 BD: Morris-University Heights - $1,837
- 2 BD: Morris-University Heights - $2,120
WHERE PRICES DECREASED
MOTT HAVEN
Studios -0.9%
One-Bedroom -7.4%
Two-Bedroom -6.6%
CONCOURSE/
HIGHBRIDGE
One-Bedroom -1.3%
RIVERDALE
Two-Bedroom -2.5%
WHERE PRICES INCREASED
CONCOURSE/
HIGHBRIDGE
Studios 3.2%
Two-Bedroom 5.0%
MORRIS HEIGHTS/
UNIVERSITY HEIGHTS
Studios -
One-Bedroom 2.8%
Two-Bedroom 0.7%
RIVERDALE
Studios 0.4%
One-Bedroom 4.7%
BRONX AVERAGE PRICE
BRONX AVERAGE PRICE
BRONX AVERAGE PRICE
A QUICK LOOK
year over year PRICE CHANGE BY NEIGHBORHOOD
YEAR OVER YEAR Price change
BRONX RENTS: MAY 2022 VS. MAY 2023
| TYPE | MAY 2022 | MAY 2023 | CHANGE |
|---|---|---|---|
| Studios | $1,927 | $2,093 | 8.65% |
| One bedrooms | $2,151 | $2,241 | 4.20% |
| Two bedrooms | $2,631 | $2,685 | 2.05% |
BRONX PRICE TRENDS
CONCOURSE/HIGHBRIDGE PRICE TRENDS
OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN CONCOURSE & HIGHBRIDGE INCREASED BY 2.44%.
MORRIS HEIGHTS/UNIVERSITY HEIGHTS PRICE TRENDS
MONTH-OVER-MONTH, THE AVERAGE RENTAL PRICE IN MORRIS HEIGHTS & UNIVERSITY HEIGHTS INCREASED BY 1.64%.
MOTT HAVEN PRICE TRENDS
THROUGH MAY, THE AVERAGE RENTAL PRICE IN MOTT HAVEN DECREASED BY 5.22%.
RIVERDALE PRICE TRENDS
THE AVERAGE RENTAL PRICE IN RIVERDALE SLIGHTLY INCREASED BY JUST 0.45%.
THE REPORT EXPLAINED
THE BRONX RENTAL MARKET REPORT TM COMPARES FLUCTUATION IN THE BOROUGH’S RENTAL DATA ON A MONTHLY BASIS. IT IS AN ESSENTIAL TOOL FOR POTENTIAL RENTERS SEEKING TRANSPARENCY IN THE BRONX APARTMENT MARKET AND A BENCHMARK FOR LANDLORDS TOEFFCIENTLY AND FAIRLY ADJUST INDIVIDUAL PROPERTY RENTS IN BRONX.
The Bronx Rental Market ReportTM is based on a cross-section of data from available listings and priced under $10,000, with ultraluxury property omitted to obtain a true monthly rental average. Our data is aggregated from the MNS proprietary database and sampled from a specifc mid-month point to record current rental rates offered by landlords during that particular month. It is then combined with information from the REBNY Real Estate Listings Source (RLS), OnLine Residential (OLR.com) and R.O.L.E.X. (Real Plus).
Author: MNS has been helping Bronx landlords and renters navigate the rental market since 1999. From large companies to individuals, MNS tailors services to meet your needs. Contact us today to see how we can help.
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Note: All market data is collected and compiled by MNS’s marketing department. The information presented here is intended for instructive purposes only and has been gathered from sources deemed reliable, though it may be subject to errors, omissions, changes or withdrawal without notice. If you would like to republish this report on the web, please be sure to source it as the “Bronx Rental Market Report” with a link back to its original location.
