The Real Deal New York

These two South Bronx neighborhoods saw NYC’s sharpest rent increases

Port Morris rents rose nearly 12%, while Mott Haven rents rose by 9% in the fall
October 24, 2017 02:50PM

Mott Haven in the Bronx

Rents are rising faster in the South Bronx than in any other part of the city, a new report shows.

The data from Zumper shows that rents in Port Morris rose by 11.9 percent since the last quarter, while rents in Mott Haven shot up by 9 percent, according to Curbed. However, the neighborhood’s median rents themselves—$1,790 in Port Morris and $1,700 in Mott Haven—are still much lower than other parts of the city.

In Tribeca, for instance, median rent is $4,000, while median rent in DUMBO is $3,910. Windsor Terrace was the neighborhood with the sharpest rent increase in Brooklyn, going up by 6 percent to $2,325.

Port Morris and Mott Haven have become the epicenter of development in the Bronx, with projects like the Clock Tower building already in place and others like the megaproject from Somerset Partners and the Chetrit Group planned along the waterfront.  [Curbed] Eddie Small