Since the end of 2017, the Brooklyn neighborhoods with the priciest rents have seen the biggest increase in StreetEasy’s Renter Demand Index — a new statistical model from StreetEasy Research that determines renter demand by combining StreetEasy’s data on user behavior and the market.
The index compares changes in rents for apartments that have been listed on StreetEasy more than once, as well as how quickly those units are rented. The index also predicts how quickly an apartment will be rented, based on market data and how users interact with listings on the site.
The neighborhoods with the highest rents in 2018 are listed below as well as their change in demand in 2018:
- Rental demand in Dumbo — Brooklyn’s priciest rental neighborhood, with a median rent of $4,795 — was up 9% over the previous year
- Rental demand in Downtown Brooklyn was up 6%
- Rental demand in Cobble Hill was up 3%
- Rental demand in Boerum Hill was up 2%
- Rental demand in Brooklyn Heights was up 4%
StreetEasy said a slower sales market has helped drive demand for rentals in the city’s expensive, well-located neighborhoods.