Asking rents are continuing to rise in The Bronx.
Thanks to online apartment search site RentHop, you can see what asking rents are in your neighborhood according to subway stops.
In The Bronx, unsurprisingly, stations in the South Bronx neighborhoods of the Lower Concourse area, Melrose, Mott Haven, and Port Morris are showing the highest average asking rents with at roughly $1,900. This is looking at data in Bronx Community Board 1 which is where the highest asking rents were found according to RentHop’s map.
The Prospect Station on the 2 and 5 line, also in CB1 showed the biggest increase from least year at 14.2% to $1,713.
Other key findings from the data:
- While rents below 96th street in Manhattan saw a DECREASE in asking price, the reverse is true for The Bronx as a whole where all but 3 stations indicated a decrease.
- 7 of 14 stations along the 4 line saw a double-digit increase in asking rents (Including High Bridge/Morris Heights along the proposed rezoning area of Jerome Avenue)
- South Bronx asking rents versus North and East Bronx asking rents on average higher by $400 a month.
Via RentHop: The Interactive Map Below Shows All Prices, Stops, and YoY Fluctuations
It’s important to realize that these numbers are ASKING rents and it doesn’t indicate that those are the actual rents. What it does show is that landlords are becoming ever more confident in asking for higher and higher rents as folks are priced out elsewhere.
Also, it should be noted that these data collections rarely utilize the complete listings in an area so numbers may be skewed in either direction.
Let us know what you think in the comments below or on our page. Do you see rents rising in your neighborhood?