Bronx Posts Double-Digit Annual Gains in Apartment Rents
Apartment rents are on the rise in the Bronx as well, according to MNS Real Estate. Average monthly rents in the Bronx neighborhoods analyzed by MNS increased by 1.76% in September from $2,220.95 in August to $2,260.00.
Studio rental pricing posted the smallest increase at 0.02%, going from $1,943.99 to $1,944.34. The average rental price for a one-bedroom unit increased by 2.68% from $2,089.34 to $2,145.26. The average rental price for a two-bedroom unit increased by 2.32%, from $2,629.51 to $2,690.39.
The most expensive studio, one, and two-bedroom units were all seen in Mott Haven. Conversely, the most affordable studio and two-bedroom units appeared in Morris Heights/University Heights and one-bedroom units in Concourse/Highbridge.
Year over year, studio pricing is up by 10.67%, one-bedrooms are up by 10.19% and two-bedrooms are up by 10.74%. Overall, the Y-O-Y average Bronx rental price tracked by MNS has increased by 10.33%.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).