Rent prices have decreased in these 8 NYC neighborhoods

NEW YORK CITY (PIX11) – Citywide, rent prices are increasing. But in these eight neighborhoods, renting has become a little easier over the past year.

Across New York City, median asking rent prices hit $4,080 in August, a 7.4% increase from last August, according to Streeteasy. Manhattan saw an even bigger jump, with median rent prices increasing by nearly 10%.

These NYC neighborhoods offer the best deals on apartments: StreetEasy

The biggest decline in rent prices was in one of Brooklyn’s most expensive neighborhoods, DUMBO. The median asking rent was $5,600 in DUMBO in August, an over 8% decrease since last year.

In Manhattan, rent prices dropped in Battery Park City by 5.6% compared to last year. It was one of only two Manhattan neighborhoods to see a significant decrease in median asking rent prices, along with Roosevelt Island.

These eight New York City neighborhoods saw rent prices decrease over the past year:

1. DUMBO:
   1. Median asking rent: $5,600
   2. Decrease since last August: 8.2%
2. East New York
   1. Median asking rent: $3,000
   2. Decrease since last August: 7.7%
3. Battery Park City
   1. Median asking rent: $5,524
   2. Decrease since last August: 5.6%
4. Midwood
   1. Median asking rent: $2,683
   2. Decrease since last August: 4.2%
5. Jamaica
   1. Median asking rent: $2,963
   2. Decrease since last August: 2.9%
6. Mott Haven
   1. Median asking rent: $3,137
   2. Decrease since last August: 1.4%
7. Roosevelt Island
   1. Median asking rent: $4,365
   2. Decrease since last August: 1.2%
8. Downtown Brooklyn
   1. Median asking rent: $4,477
   2. Decrease since last August: 0.5%

Emily Rahhal is a digital reporter who has covered New York City since 2023 after reporting in Los Angeles for years. She joined PIX11 in 2024. See more of her work here and follow her on Twitter here. …

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