New York City’s most populous borough is increasingly home to residents who come from outside the Empire State, according to a report.
About 22 percent of all new tenants in brownstone and North Brooklyn in the first quarter of 2014 were from out-of-state. That’s up from 18 percent during the same time period last year, according to a report from brokerage Ideal Properties Group. Of those newcomers, 10 percent were from outside the U.S. In Manhattan, meanwhile, 13 percent of newcomers were ex-Manhattanites, a hefty drop form the 53 percent of all new leases signed that they constituted back in the first quarter of 2006.
Of the out-of-state crew, Connecticut represented the largest portion of newcomers to brownstone Brooklyn at 21 percent, followed by California with 17 percent and New Jersey at 10 percent, according to the report.
Most of the new tenants in these areas are young, with 59 percent between the ages of 21 and 30. Only 13 percent of individuals from that age group constituted home buyers, according to the report. Those aged 31 to 40, meanwhile, constituted only 17 percent of renters but slightly more than half of residential real estate buyers.
Park Slope dominated the rental scene in the first quarter, with 28 percent of all leases signed in Park Slope. In North Brooklyn, Williamsburg remained a hotspot, nabbing 14 percent of all renters. — Julie Strickland