Zumper.com issued its latest asking rent prices in New York City, the nation’s second most expensive rental market, and the Bronx neighborhoods of Mott Haven and Port Morris showed the highest jump as other parts of the city were modest or even saw dips in rents.
Port Morris saw the highest jump with 11.9% increase to a median of $1,790 followed by Mott Haven at $1,700 representing an increase of 9%.
Meanwhile, Brooklyn neighborhoods of Borough Hall and Ocean Park saw the largest drop at 12% in both areas since the last quarter.
It should be noted that this data doesn’t present a complete picture of the actual market as only rents available on Zumper.com are utilized but nevertheless it is indicative of what’s going on in the South Bronx as gentrification continues full speed ahead despite many naysayers who deny it’s happening.
When you look at the median income of these neighborhoods which is barely $20k a year, these rents are well beyond the grasp of the majority of local residents.
While many advocate that mixed income neighborhoods will “improve” an area for residents, we’ve already seen that this is not the case as existing residents are continuously displaced with escalating rents.
You can argue against this point all you want but just take a stroll down Lenox Avenue in Harlem, 8th Avenue in Chelsea or through Hell’s Kitchen, and of course the beacon of gentrification that is Williamsburg over on Brooklyn.
The longtime residents didn’t really last long enough to reap the alleged benefits that gentrification is supposed to bestow upon a neighborhood.
Let’s hope that our borough doesn’t end up like the rest.
