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
(Photo Illustration by The Real Deal with Getty Images)
The housing correction is a tale of two markets
The housing correction is a tale of two markets
A photo illustration of Manhattan Borough President Mark Levine (Getty, Office of Mark Levine)
Map: Here’s a treasure trove of Manhattan resi development sites
Map: Here’s a treasure trove of Manhattan resi development sites
(Photo Illustration by Steven Dilakian for The Real Deal with Getty)
Tri-state rents are up and down — at the same time
Tri-state rents are up and down — at the same time
Albany buildings
How Albany is dealing with its 1K vacant buildings
How Albany is dealing with its 1K vacant buildings
Moody’s Analytics' Thomas LaSalvia
Average American tenant is rent-burdened
Average American tenant is rent-burdened
arrow_forward_ios

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

Loading...