Brooklyn and Queens have experienced a sharper rise in rents over the past seven years than Manhattan, with increases of 50% since 2019—outpacing the borough’s earlier surge of 36.5%. The data highlights how housing costs in New York City’s outer boroughs have surged beyond historic levels, raising concerns about affordability amid ongoing urban development. Meanwhile, a separate report explores how international trends in property markets are reshaping real estate expectations, including a look at unconventional listings like an English castle for sale. For tenants and investors alike, the shifts in rental prices and luxury property trends signal deeper changes in the city’s economic landscape.
When looking at the trajectory of the last seven years, Brooklyn and Queens have seen rents grow by 50% since 2019, compared with the already substantial 36.5% in Manhattan. MORE: An English Castle ...
