Rents on The Rise in The South Bronx as Overall NYC Rents Drop

©Welcome2TheBronx

Melrose, Mott Haven, and Hunts Point in the South Bronx have seen a rise of 10%-15% during 2016 for rents for 1 bedroom units according to Zumper, a real estate listing site, as overall rents of similar units in NYC have dropped 9.1%

Hunts Point saw the biggest jump in NYC during 2016 with a 14% increase to $1,260 a month which shouldn’t come as a surprise as the gentrification vultures continue descend upon us. 

Over in Mott Haven, average 1 bedroom units are up by 13% to $1,480.

But all of this data doesn’t necessarily show the entire picture as these are based on listings in a database and may miss out on units that are much higher AND much lower than Zumper is reporting. 

As more new developments complete construction in the area, rents are surely to continue an upwards trend unless the housing market crashes again.  Villa Maria Academy Open House! Click for more details!

- Advertisement -Newspaper WordPress Theme

Latest news

The Bronx General Post Office Has Been Sold for $44 Million—But Will It Finally Be Revived or Join a Legacy of Broken Promises?

Another chapter has turned for one of The Bronx’s most iconic buildings. The Bronx General Post Office, located at 558 Grand Concourse at East...

Soundview Ferry Route to Expand, Linking The Bronx, Brooklyn, and Rockaways in NYC Ferry Overhaul

Since before NYC Ferry first launched its Soundview route in 2017 connecting The Bronx to Manhattan by water, Welcome2TheBronx has been vocally advocating for...

Construction begins on the tallest building at The Hub

Construction has finally begun on the final phase of one of the largest developments in The Bronx after years of delays. Building E, at the...

The Bronx General Post Office Has Been Sold for $44 Million—But Will It Finally Be Revived or Join a Legacy of Broken Promises?

Another chapter has turned for one of The Bronx’s most iconic buildings. The Bronx General Post Office, located at 558 Grand Concourse at East...

Soundview Ferry Route to Expand, Linking The Bronx, Brooklyn, and Rockaways in NYC Ferry Overhaul

Since before NYC Ferry first launched its Soundview route in 2017 connecting The Bronx to Manhattan by water, Welcome2TheBronx has been vocally advocating for...

Construction begins on the tallest building at The Hub

Construction has finally begun on the final phase of one of the largest developments in The Bronx after years of delays. Building E, at the...