Rents Up 25 Percent in Crown Heights, 23 Percent in Bushwick

colony 1209 gentrification bushwig crown heights rent hike
(Image: Colony 1209)

As anyone who has been priced out of a neighborhood can attest, not all rent increases are created equal. Some are to be expected—$50 per person per year is usually a safe assumption—and others mean a quick retreat to farther-flung regions. My landlord in Flatbush tried to raise the rent on our 4-bedroom by $500 one year; we talked her down to $300, which in itself was squeeze enough to start considering other subway stops. A report from realtor MNS reports that the largest price movers in the past year are Bay Ridge (up 11.4 percent), Bushwick, and Crown Heights.

Faster than a speeding vegan, Bushwick is the next “the next” in Brooklyn. It’s the next Williamsburg, which was the next LES, and on and on. Due to new development and a growing foodie scene, Bushwick is seeing a lot more people willing to pay (on average) $2,300 for a studio, $2,647 for a 1-bedroom, or $2,509 for a 2-bedroom. However it works that the average 2-bedroom is cheaper than the average 1-bedroom remains a mystery, but it’s a safe bet that somebody‘s getting ripped off.

Average rents in Crown Heights have shot up even more (25.2 percent, to be precise), and with no shortage of new development, either. At an average price of $2,175 for a studio, $2,295 for a 1-bedroom, and $2,569 for a 2-bedroom, long- and short-time residents alike may find themselves headed for Prospect-Lefferts Gardens, where rents have decreased in the past year by 0.2 percent. There, a studio will run you $1,300, a 1-bedroom $1,516, and a 2-bedroom $2,244—for now.

Follow John Sherman on Twitter @_john_sherman.


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