« Back to Previous Page | Real Estate»Reports & Guides»November - 2014 Manhattan, Brooklyn and Queens Rentals

Reports And Guides

November - 2014 Manhattan, Brooklyn and Queens Rentals

Thumbnail image of November - 2014  Manhattan, Brooklyn and Queens Rentals

Report Summary

The Manhattan rental market continued to be characterized by rising prices and low vacancy rates. Median rent increased for the ninth consecutive month with the biggest gains seen in the studio and 1-bedroom markets.  The use of concessions by landlords and declining marketing times were influenced by rising employment and tight mortgage lending conditions. We don’t anticipate significant relief to tenants next year.

Brooklyn rental prices have risen for the second consecutive month after slipping in prior months. A large part of the rise in rental prices has been seen in the studio and 1-bedroom markets. The use of landlord concessions remained rare as marketing times edged higher. These conditions are expected to continue into next year.

Northwest Queens rental prices were mixed, with rental price increases and market share gains seen mainly in studio and 1-bedroom apartments. Overall marketing time expanded, but negotiability between tenants and landlord remained limited.  With the continued addition of new rental properties into the market, we expect similar conditions into the new year.

Download PDF »



About Our Reports

Produced in conjunction with Miller Samuel, a leading independent appraisal firm, our market report series is the benchmark for residential real estate market information and an essential reference source for consumers, the media, financial institutions, government agencies, researchers and other market professionals. Each report provides an analysis of price and sales trends as well as many other metrics to give readers an idea of current conditions as well as historical and emerging market trends.

Click here for a message from Dottie Herman, President and CEO, Douglas Elliman.

To receive automatic email notifications when new Market Reports are released, click here.

All data is deemed reliable but is not guaranteed accurate by the RLS or Douglas Elliman. See Terms of Service for additional restrictions.

All information regarding a property for sale, rental, taxes or financing is from sources deemed reliable. No representation is made as to the accuracy thereof, and such information is subject to errors, omission, change of price, rental, commission, prior sale, lease or financing, or withdrawal without notice. All square footage and dimensions are approximate. Exact dimensions can be obtained by retaining the services of a professional architect or engineer.

The number of bedrooms listed above is not a legal conclusion. Each person should consult with his/her own attorney, architect or zoning expert to make a determination as to the number of rooms in the unit that may be legally used as a bedroom.

© 2014. Douglas Elliman Real Estate. All material presented herein is intended for information purposes only. While, this information is believed to be correct, it is represented subject to errors, omissions, changes or withdrawal without notice. All property information, including, but not limited to square footage, room count, number of bedrooms and the school district in property listings are deemed reliable, but should be verified by your own attorney, architect or zoning expert. Equal Housing Opportunity.