Figure reects leases reported signed within the report month reported by any agency in Brooklyn and may include furnished and/or short term rentals. Not all leases that are signed are publicly
reported. By bedroom stats exclude units larger than three bedrooms. Price gures based on last asking prices for leases reported signed but actual rents may be lower. Figure reects units actively
listed as of the last day of the report month. Days on market only reects units that were listed for more than one day prior to being marked as leased. All material herein is intended for information
purposes only and has been compiled from sources deemed reliable. Though information is believed to be correct, it is presented subject to errors, omissions, changes or withdrawal without
notice. This is not intended to solicit property already listed. Equal Housing Opportunity. The Corcoran Group is a licensed real estate broker. Owned and operated by Anywhere Real Estate LLC.
The Corcoran Report
MAY 2024 | BROOKLYN | RENTAL MARKET
May 2024: Leasing activity increased in all but two of sixteen Brooklyn neighborhoods. DUMBO nearly quadrupled its annual leasing activity, up
286% with strong activity at Magnolia DUMBO. South Williamsburg had the most signicant increase in rent, expanding 17%. Four neighborhoods,
south and east of Prospect Park established new records for average rent during this period.
Leases Signed by Neighborhood
May 2024 May 2023 YoY
Greenpoint
95 68
40%
North Williamsburg
236 113
109%
South Williamsburg
73 65
12%
DUMBO
54 14
286%
Brooklyn Heights
58 52
12%
Boerum Hill / Cobble Hill
66 59
12%
Carroll Gardens / Gowanus / Red Hook
72 81
-11%
Downtown Brooklyn
203 159
28%
Park Slope
136 117
16%
Fort Greene / Clinton Hill
123 135
-9%
Prospect Heights
53 78
-32%
Crown Heights / Prospect-Lefferts
89 78
14%
Bedford-Stuyvesant
140 126
11%
East Williamsburg/Bushwick
96 73
32%
Prospect Park South
85 82
4%
South Brooklyn
120 107
12%
ANNUAL CHANGE IN LEASES SIGNED
Greenpoint
North Williamsburg
South Williamsburg
DUMBO
Brooklyn Heights
Brm Hl / Cbl Hl
Crl Grds / Gwns / Rd Hk
Downtown Brooklyn
Park Slope
Fort Gr. / Clinton Hill
Prospect Heights
Crwn Hts / PLG
Bedford-Stuyvesant
East Williamsburg/Bushwick
Prospect Park South
South Brooklyn
3
Average Rent by Neighborhood
May 2024 May2023 YoY
Greenpoint
$4,820 $4,864
-1%
North Williamsburg
$5,320 $5,008
6%
South Williamsburg
$5,294 $4,513
17%
DUMBO
$6,774 $7,699
-12%
Brooklyn Heights
$7,111 $6,796
5%
Boerum Hill / Cobble Hill
$5,159 $5,396
-4%
Carroll Gardens / Gowanus / Red Hook
$5,231 $4,571
14%
Downtown Brooklyn
$4,880 $4,781
2%
Park Slope
$5,057 $4,560
11%
Fort Greene / Clinton Hill
$4,410 $4,389
0%
Prospect Heights
$4,603 $4,485
3%
Crown Heights / Prospect-Lefferts
$4,104 $3,557
15%
Bedford-Stuyvesant
$3,828 $3,507
9%
East Williamsburg/Bushwick
$3,548 $3,667
-3%
Prospect Park South
$3,601 $3,244
11%
South Brooklyn
$3,224 $2,769
16%
Greenpoint
North Williamsburg
South Williamsburg
DUMBO
Brooklyn Heights
Brm Hl / Cbl Hl
Crl Grds / Gwns / Rd Hk
Downtown Brooklyn
Park Slope
Fort Gr. / Clinton Hill
Prospect Heights
Crwn Hts / PLG
Bedford-Stuyvesant
East Williamsburg/Bushwick
Prospect Park South
South Brooklyn
0%
Prospect Park South includes Windsor Terrace, Greenwood Heights, Prospect Park South, Kensington and Flatbush. South Brooklyn includes neighborhoods south of Foster
Avenue, west of McDonald Avenue south of Greenwood Cemetery, east of Utica Avenue south of Fulton Street, and east of East New York Avenue south of Clarkson Avenue.
40%
ANNUAL CHANGE IN AVERAGE RENT
80%-40% -20%
*New Record
10%
0% 20% 60%
*
-15%
-10%
-5% 5%
15% 20%
*
*
*