Is Brooklyn really the new Manhattan?
If the borough’s steadily increasing rents are any indication, the answer is “yes.”
Rent in Brooklyn increased to a median price of $2,699, which is up 6.8% from October 2012, according to Douglas Elliman.
Manhattan rentals saw a decrease of 1.6%, to a still pricey $3,150.
A report from MNS brokerage firm showed rent increased in almost every neighborhood in Brooklyn.
The average studio in DUMBO is going for a staggering $3,145, which is much more than a studio in popular areas in Manhattan.
As the popularity of the borough grows, the gap between Manhattan and Brooklyn rents is narrowing.