Average Brooklyn monthly rents surged 6.6% in 2011, to $2,322, and more affordable Crown Heights led the way in that growth as renters migrated inland looking for deals.
Crown Heights Rent Growing Fastest in Brooklyn
Average Brooklyn monthly rents surged 6.6% in 2011, to $2,322, and more affordable Crown Heights led the way in that growth as renters migrated inland looking for deals.
The data is part of MNS’s annual year-end report that compares fluctuations in monthly rental data. Average rents in the Crown Heights neighborhood soared a dizzying 35.0%, 36.2%, and 22.6% for studios, 1BR and 2BR apartments, respectively.
As brokers continue to advise deal seekers to head one more subway stop past a currently hot neighborhood, Bushwick and Bed-Stuy are positioned to experience possibly similar growth in 2012.
Growth in the average rent of 1BRs was the highest, moving up 9.6% to $2,211 a month. Rents on 2BRs and studios were up 6.0% and 4.1%, respectively, but there could be a lot of potential for more growth in studio prices in 2012 due to tight inventory.
Years of sustained growth in neighborhoods like DUMBO mean that its rental prices are now higher on a per-square-foot basis than in the average rents in Manhattan.
MNS’s report concludes by saying that any increases in inventory to Brooklyn’s rental stock are unlikely to provide relief for renters, as more demand should continue to flow in from Manhattan, where rent hikes aren’t exactly on vacation either.
cr
the only good point about prohibitively high rent is that it discourages low income people who cannot be responsible for the rent or the property.
Time for a new Crown Heights?
We need to develop a new Chabad neighborhood. Somewhere preferable with lawns, where young families and afford to live and send their kids to school. Any ideas?
your answer to housing
Sure come move to the new jewish neighborhood developing in tampa florida with daily minyans mikvah schooling nice weather rents from $750 per month nice houses to be bought $75,000 and up for info call 8139668770
old timer
look into developing 1600 pennsylvania ave, washington, DC
New Crown Heights???
A “New” Crown Heights? Maybe “New” chassidus? Heck, how about a “New” Torah? With a new Crown Heights, a new chassidus and a new Torah, we would have a new “Jewish” religion! It is a slippery slope you are sliding down! I am sure you had good intentions but we all know that the road to Gehenim is paved with good intentions.
DaasTorah
Rent is too damn high!
Just a thought
It mite be worth while for people with means and pull to try to put together affordable housing for anash in crown heights as the rebbe had encouraged (vyhuda oide lekra) it will be the biggest chesed you can do to a family, that they don’t have to worry if they are going to have a roof over their heads and besides by helping people with they’re biggest expense you will save them from having to come on to other gmilas chasodim hence it is a cheaper way of tzdoka or the tzdoka goes a longer way in the long run
average CH resident
the cost of rent has risen in proportion to the cost of purchasing a home. If you buy a 2 family house you need the income to pay the mortgage.
what your describing is not ch!
to #2, just move!!
DeClasse- Intellectual
#2 Where???
Other parts of the city are just as bad or worse.
Good part of the reason why New york is on every top five list as the worst place to live!!
crown heights resident
YES RENTS ARE 2 HIGH AS WE ALL KNOW AND WAS AS ALWAYS, SO ANYONE IS DOING SOMETHING ABT OUR COUNCIL ALSO PEOPLE RENT THEIR NEW HOME TO PAY RENOVATION AND WANTS EXTRA CASH NOT RIGHT 2 2 2 HIGH FOR OTHERS
sechel
think about moving to a place like wilks-berra pa or morristown nj they both have cheap housing and a lubavitch chader (till mesivta) and are driving distance to crown heights and the ohel
AA
#5 is absolutely right. So no more new things (“new” defined as “anything invented since the founding of Chassidus). Chadash assur min hatorah! I look forward to seeing #5 – if he or she will come forward and be identified – going places in a horse and buggy, wearing only wool or linen or silk (or cotton for really special occasions – it was expensive stuff back then), and, of course, publishing opinions using a quill pen by candlelight. Oh, and of course this person must live in a muddy shtetl surrounded by drunken goyim (actually, whoops – that’s true now too).
hard working couple
to #5 it is easy for you to talk when you probably own your home mortgage free and probably are one of those landlords charging the high rents.
for a newly married couple who are just trying to start out in life things are completely different both need to work very hard hours just to survive and even then many of them struggle just to pay their rent and then if you lose your job the first one to come and harass you is your nice landlord who does not care about your situation he wants his money
ENOUGH!
TO ALL THOSE PEOPLE WHO SAY MOVE OUT OF NY IF YOU CAN’T PAY RENT…. #1 ARE U GOING TO HELP FIND A JOB IN FLORIDA?
#2 AFTER FINDING A JOB IN FLORIDA, WILL THEY KEEP IT FOR ME UNTIL MY FAMILY GOES DOWN TO MOVE THERE? OR GIIVE IT AWAY?
#3 WILL U HELP ME PAY 500 PLUS JUST TO PAY THE MOVERS?
YOUR ANSWER TO MOST OF THESE IS NO… IT COSTS MONEY TO DO ALL THAT AND NO GUARANTEES.
SO STOP SAYING JUST MOVE! EASIER SAID THEN DONE HMMPH!
I am #5
In response to #13 who purports to define “new” as “anything invented since the founding of Chassidus” (and therefore mocks at ANY change), I wish to clarify –
The Rebbe said MANY times: Kan tziva Hashem as ha’brocha. “Kan” means Crown Heights. And ONLY here in CH!!!
To create a new “KAN” would mean creating a new chassidus…new Torah…new Judaism…a slippery slope.
I am not a landlord but a tenant who struggles each month to pay rent for the PRIVILEGE to live in CH – the Rebbe’s Shchuna. Yes, the light of CH attracts many “flies and other insects” (e.g. lack of tznius, machlokes etc.) but the light itself is a wonderful light!
And don’t forget – THIS is the place of BROCHA! How much is a brocha worth? To some of us a brocha is PRICELESS!!
Housing and Jobs
#7 you are exactly correct
One of my big beefs is the lack of foresight and chessed by the gvirim for those those are in need of housing. These so-called “Chassidim” have opted to “sit” on real-estate (waiting for the price to rise etc or for their kids) or flip houses etc rather that invest in the community.
It is all the more disgusting since the community is poised to be flooded with non-Jews that will present a tremendous trial for everyone to withstand this culture (look at Williamsburg). They are all DINKS (double-incomes, no kids) and can easily afford to outbid and buy a house versus a rebbe in yeshivah with one income and 10 kids.
The Rebbe foresaw all of this 40 years ago, but everyone was so greedy, they totally disregarded the Rebbe’s directives.
It is very perplexing to me that with all the hoopla and all the statements that Crown Heights is “the Rebbe’s Shechuna” and that “Kan Tzivah etc. that nobody is investing in this community for those less fortunate.
(I am very happy that the big billionaires are giving money to Chabad Mosdos, but what about investing/giving some of that money for simple housing or for that matter, an actual JOB to a chossid?
(Although, this is entirely off topic . . . Granted, All these big shots give money to Chabad for programs, but when it comes to the highest form of Tzedaka, giving someone an actual job, no one is to be found. And I don’t mean a fake job, but a REAL job in their business! It appears that Chabad has the greatest network of businessmen and companies, yet I NEVER hear about them offering a real job to a qualified chossid. How many talented and qualified people are out of work in this community that could easily be helped by a “friend of Chabad”? If only 1% of these wealthy guys gave a job to a chossid ( Like B&H does) we would be a wealthy community, in our own right. And surely giving 1 job would not break these guys, so why isn’t there a Mivtza “Give A Job to a Jew”?!!)
The priorities are totally screwed up here. It’s more important to provide housing for others than to build a million dollar building, it’s more important to provide a Job for someone than donating money dollars for some “program”. And it’s more important to rent for a reasonable rate (And yes I have rented out) than to gouge people with the lame excuse: “gee, after all, we live in a “free market” society, and if you can’t afford it move out”.
At this rate, I foresee a stagnant Jewish community that will be overrun by non-Jewish homeowners and businesses resulting in a community that will have further eroded its connection to the Rebbe and Chabad.
free
To #14
Please tell everyone what business you are in so we can all get your services and goods and when you ask for payment we will call you a nice greedy business person who harasses us for payment.
I would love to get your services for free
To #18 from #14
#18
The tendency here is for CH to remain a
poor, dependent community whose main source of funds is hand-outs etc.
However, we have the ability to help each other and enable each other to stand on our own feet with a little help from those who are fortunate to have built successful businesses.
(This also includes helping someone buy their own home etc so that they can get out of the parasitic cycle of constantly renting)
No one is asking anyone to give their services for free or to risk their businesses.
However, many are fortunate to have businesses that employ hundreds of employees or have amassed millions. These people can certainly afford to employ a Chossid, (even if that person may need some training etc) and not just rely on writing a check for some mosad.
I am not saying anything new here. In fact the Rambam says that the HIGHEST form of tzedaka is to give someone else a job. It’s just a little “afirmative action” for our own
B&H is to be praised for implementing this philosophy. My previous comment is that this is virtually non-existant in the huge Chabad business community
If I had the wherwithal, I would certainly try to give a Jew employment, even at a minor loss or inconvenience.
Sorry you don’t/can’t understand this.
jewish crown heights
is this article about jewish crown heights ???
considering that crown heights itself goes till/from botanical gardens NOT nostrand ave
#14 to #18
#18
No one is asking anyone to give their services for free or to risk their businesses.
Just try to help another Jew
I’m sorry that is beyond your comprehension. Did you ever learn a Jewish word?
UNREAL
WHERE IS THE JEWISH COMMUNITY CENTER OR JCC OF CH! THEY R RUDE PEOPLE WHO JUST SIT ON THERE TUCHUS AND DON’T HELP
Response to #8
In response to comment #8: A high rent may be justified for landlords who recently bought a new house and must pay a high mortgage. But we’re talking about the landlords who bought their houses decades ago, many of whom have already paid off their mortgage or have a very, very low mortgage. They charge the current high rent rates, especially when one of their old tenants moves out and a new one moves in. This is COMPLETELY NOT JUSTIFIED and COMPLETELY WRONG. They are just taking money that they should not be taking…!