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

New York /
Oct.October 24, 2017 02:50 PM

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


Related Articles

arrow_forward_ios
Nestio's Caren Maio (Credit: Emily Assiran)
“Like TurboTax”: Nestio launches online leasing
“Like TurboTax”: Nestio launches online leasing
(Credit: iStock)
What you need to know about landlords’ challenge to New York’s rent law
What you need to know about landlords’ challenge to New York’s rent law
Among Brooklyn's priciest spots is DUMBO; pictured is the neighborhood's Main Street Park (Credit: iStock)
Why fewer Brooklyn and Queens tenants are moving
Why fewer Brooklyn and Queens tenants are moving
(iStock/Illustration by Kevin Rebong for The Real Deal)
Watchdog org: Put home-sale commissions in buyers’ hands
Watchdog org: Put home-sale commissions in buyers’ hands
Photo Illustration of Elon Musk (Getty)
Musk could save $2B in California taxes on Texas move
Musk could save $2B in California taxes on Texas move
The year-over-year rise in home prices was just below the 19.8 percent annual rise in August. (iStock)
Home prices up 20%, but buyers, take heart
Home prices up 20%, but buyers, take heart
Landlords were less likely to respond to renters they thought were African American or Latino. (iStock)
Landlords more likely to ignore applicants of color
Landlords more likely to ignore applicants of color
Newest unicorn is property-services startup Lessen
Newest unicorn is property-services startup Lessen
Newest unicorn is property-services startup Lessen
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...