BRONX RENTAL MARKET REPORT
BRONX RENTAL MARKET REPORT ARCHIVE
sign up for rental Market reports to be sent to your email
TABLE OF CONTENTS
JUMP TO A PARTICULAR SECTION
introduction
THE AVERAGE RENT IN BRONX HAS INCREASED THIS MONTH.
-
CHANGE
-
$2,504JUNE 2024
-
$2,547JULY 2024
A QUICK LOOK
Over the past month, the average rental price in the neighborhoods analyzed by this report increased by 1.75%, from $2,504 to $2,547. Studio rental pricing increased by 2.42%, from $2,076 to $2,126. The average rental price for a one-bedroom unit increased by 1.21%, from $2,537 to $2,568. The average rental price for a two-bedroom unit increased by 1.75%, from $2,898 to $2,949.
The most expensive studio, one and two-bedroom units were all seen in Mott Haven. Conversely, the most affordable studio and two-bedroom units were in Morris-University Heights; the most affordable one-bedroom units were in Concourse/Highbridge.
Compared to this time last year, studio pricing is up by 2.77%, one-bedrooms are up by 11.55% and two-bedrooms are up by 5.38%. Overall, the year-over-year average rental price tracked by this report has increased by 6.61%
Most Expensive:
- Studio: Mott Haven - $2,466
- 1 BD: Mott Haven - $2,873
- 2 BD: Mott Haven - $3,381
Least Expensive:
- Studio: Morris-University Heights - $1,803
- 1 BD: Concourse/Highbridge - $2,309
- 2 BD: Morris-University Heights - $2,550
WHERE PRICES DECREASED
MOTT HAVEN
Studios -3.6%
One-Bedroom -0.8%
Two-Bedroom -1.6%
CONCOURSE/
HIGHBRIDGE
Studios -1.5%
One-Bedroom -5.8%
Two-Bedroom -2.7%
WHERE PRICES INCREASED
MORRIS HEIGHTS/
UNIVERSITY HEIGHTS
Studios 7.6%
One-Bedroom 5.3%
Two-Bedroom 7.1%
RIVERDALE
Studios 10.6%
One-Bedroom 6.7%
Two-Bedroom 5.1%
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: JULY 2023 VS. JULY 2024
| TYPE | JULY 2023 | JULY 2024 | CHANGE |
|---|---|---|---|
| Studios | $2,068 | $2,126 | 2.77% |
| One bedrooms | $2,302 | $2,568 | 11.55% |
| Two bedrooms | $2,798 | $2,949 | 5.38% |
BRONX PRICE TRENDS
CONCOURSE/HIGHBRIDGE PRICE TRENDS
OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN CONCOURSE & HIGHBRIDGE DECREASED BY 3.41%.
MORRIS HEIGHTS/UNIVERSITY HEIGHTS PRICE TRENDS
MONTH-OVER-MONTH, THE AVERAGE RENTAL PRICE IN MORRIS HEIGHTS & UNIVERSITY HEIGHTS INCREASED BY 6.61%.
MOTT HAVEN PRICE TRENDS
THROUGH JULY, THE AVERAGE RENTAL PRICE IN MOTT HAVEN DECREASED BY 1.93%.
RIVERDALE PRICE TRENDS
THE AVERAGE RENTAL PRICE IN RIVERDALE INCREASED BY 6.98%.
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.
Contact Us Now: 718-222-0211
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.
