What Is Going On with NYC Rent Right Now?
May 06, 2025 brooklyn,brooklyn real estate,brooklyn realty,cost,escalate,escalating,nyc,realty collective,rent
What’s going on with you these days? Feeling a little unstable? Seeking security in routine and predictability? Standing still while prices go up all around you? Such is the current human condition in New York City—so why should real estate be any different?
February’s median Manhattan rent reached its highest rate in more than two years—$4,500. Brooklyn and parts of Queens didn’t fare much better, at $4,035 and $3,400, respectively. So what’s happening? In short, everything is happening—everywhere, and all at once. Between tariffs, constant policy changes, and instability caused by massive layoffs across the government, the economy is awfully wobbly, and the stock market seems to be experiencing shock after shock.
It only makes sense that people are seeking security right now. Renters are staying put. Apartment vacancies are punishingly rare, and potential buyers are deciding to stay renters until the chaos subsides a bit. All these factors coming together in a perfect storm of economic instability means rents are rising fast.
If you’re struggling to understand where you fit into this larger picture, we’re happy to help you figure it out—whether that means navigating the buyer, seller, or rental markets right now. Take control of your situation and make a plan to buy, or let us help you negotiate a longer term lease with your landlord.
Learn more from our own Naomi Lindh here or get in touch!
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If you’re interested in learning about buying or selling in Brooklyn, download our free Buying Into Brooklyn Ebook or our Seller’s Guide. We share a ton of valuable resources to demystify the buying and selling process.