NEW YORK (PIX11) — Rent for one-bedroom apartments skyrocketed at major subway stops across New York City compared to last year, according to a report by RentHop.
A key finding from the report was that 438 stops, which make up over 90% of subway stations in the city, saw an increase in median rent for one-bedroom apartments. New developments near major subway stops in Brooklyn, Queens and the Bronx also contributed to the uptick in rent.
In Brooklyn, one-bedroom median rent went up 21.7% near the Bergen Street station and 30.5% near the Atlantic Avenue–Barclays Center stop, partially due to newly developed buildings in Prospect Heights.
New buildings in Queens drove prices up by 29.6% for apartments near the 36th Street stop and 28.6% for those near the Queensboro Plaza station. In the Bronx, the median price for one-bedroom apartments around the Cypress Avenue stop rose 19.4% as the Arches + NYC started leasing.
The five subway stops with the highest median rent for one-bedroom apartments were Union Square-14th Street, Times Square-42nd Street, Grand Central-42nd Street, West 4th Street and Herald Square-34th Street.
On the other hand, median rent dropped near the Bedford Park, Jackson Avenue, Kingsbridge Road, Elmhurst Avenue and Zerega Avenue subway stops.
See how rent in your neighborhood has changed in the interactive map below.
For more details, you can view RentHop’s full report.