Rents in Crown Heights Skyrocketed Last Year

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The Franklin Avenue corridor in Crown Heights, it won’t surprise you, has become much more expensive to live near in the last few years. 2014 saw the opening of a handful of new bars and restaurants, including the warehouse-like beer and snack emporium Berg’n. If you live in the area, the creep of rising rents isn’t news to you, but perhaps this statistic will be: In 2014 alone, the rental price for a studio apartment jumped 22 percent, to an average of $1,687 per month. The only larger increase for studio prices that year was in Boerum Hill. Goody!

The price increases aren’t limited to studios. According to MNS Real Estate’s market report, apartments in general saw sharp rises in rent prices, though not the double-digit numbers that studios saw. Prospect-Lefferts Garden to the south also saw about a ten percent increase in studio rents, from $1,219 to $1, 344 per month.

That’s a lot, but it’s still less than the average studio in Brooklyn. In the borough overall, studios cost an average of $2,127 per month and one-bedrooms will run you $2,574. So maybe hang on to your roommate after all.

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