Brooklyn, New York Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Brooklyn, New York rental market.
An apartment for rent in Brooklyn, New York typically goes for $2,951 per month, while a single-family home for rent in Brooklyn, New York has a monthly cost of around $3,125. Renter-occupied units make up 70% of the local housing market, while the rental vacancy rate in Brooklyn, New York is at 3.4.
Brooklyn, New York
Average Apartment Rent
Y-o-Y Change in Apartment Rent
Average Single Family Rent
Compared to a year ago, Brooklyn, New York apartments have recorded a 5.28% rent increase.
Brooklyn, New York |Median apartment rent trend
Brooklyn, New York| Average apartment rent by city
Brooklyn, New York | Apartment rent ranges
At 77.12%, apartments priced over $2,000 represent the bulk of Brooklyn, New York rentals, while condos priced $700 - $1000 hold the lowest share of the market – 0.18%.
Brooklyn, New York | Housing tenure
Renters take up 70% of Brooklyn, New York real estate, occupying a total of 665,526 units, while homeowners live in 285,330 properties.
Median number of rooms of renter-occupied housing units
Renter Median household income
Average household size of renter occupied-housing units
Rental vacancy rate
Brooklyn, New York | Renter-occupied housing units by no. of bedrooms
There are 252,207 rentals in Brooklyn, New York with 2 beds making up the highest share of the market, at 38%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 5,865 units. Overall, the median number of rooms in Brooklyn, New York homes for rent is 3.7.
Brooklyn, New York |Renter-occupied units by age of householder
Most condos for rent in Brooklyn, New York are occupied by residents in the 25 - 34 years age group (24%), followed by those in the 35 - 44 years age group (21%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
Brooklyn, New York | Renter-occupied housing units by family type
Brooklyn, New York | Renter-occupied housing units by the presence of own children
A total of 371,996 apartments for rent in Brooklyn, New York, or 56% of all rentals are family households. Additionally, 30% of rental homes include children under the age of 18 – that’s 201,130 units. All in all, the median size of a renter-occupied household in Brooklyn, New York is 2.55.
Brooklyn, New York | Renter-occupied housing units by educational attainment
In terms of education, renters holding bachelor degrees or higher make up 35% of the rental market. In contrast, residents with less than a high school degree reside in 19% of the homes for rent in Brooklyn, New York.
Brooklyn, New York | Renter-occupied units by year structure built
The highest share of Brooklyn, New York apartment rentals, namely 49% or 326,056 units, were built 1939 or earlier, followed by those built 1960 - 1969 (11%, 73,605 units), and the ones built 1950 - 1959 (11%, 71,842 units).
Brooklyn, New York | Renter-occupied units by year householder moved in
Median year renter moved into unit2010
Most Brooklyn, New York renters (34%) moved in 2010 to 2014, while only 5% of them moved in 2017 or later. Overall, the median year renters have occupied their Brooklyn, New York condos for rent is 2010.
Brooklyn, New York | Renter-occupied housing units by vehicles available
When it comes to transportation options, 68% of Brooklyn, New York renters have no vehicle available per household, 27% of them have 1 vehicle available, and 4% have 2 vehicles available.
Brooklyn, New York | Means of transportation to work of householders living in renter-occupied housing units
Brooklyn, New York |Geographical mobility in the past year for householders living in renter-occupies housing units
Brooklyn, New York | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Brooklyn, New York apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
Average single family rent calculated from point2homes.com data.
Exceptions: Data sourced from U.S. Census Bureau; American Community Survey, 2018 American Community Survey 5-Year Estimates