Monthly Rent Report
Borough Park Rent Report — May 2023
Asking rents in ZIP 11219, New York City, from 87 listings.
Median 1BR rent in Borough Park was $2,625 in May 2023, up 1.0% (+$25) from April 2023 and up 52.2% year-over-year. The middle half of 1BR listings asked between $2,600 and $2,768. That puts Borough Park $148 above the New York City citywide 1BR median of $2,477. The month's figures are based on 87 listings across 10 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $6,650 | +$4,279 (+180.5%) | +$4,450 (+202.3%) | $5,500 – $8,500 | 12 |
| Studio | $2,493 | +$122 (+5.2%) | +$293 (+13.3%) | $2,493 – $2,493 | 1 |
| 1BR | $2,625 | +$25 (+1.0%) | +$900 (+52.2%) | $2,600 – $2,768 | 22 |
| 1BR | $2,947 | +$347 (+13.3%) | +$1,222 (+70.8%) | $2,869 – $3,009 | 3 |
| 2BR | $2,900 | −$50 (-1.7%) | +$700 (+31.8%) | $2,620 – $3,500 | 19 |
| 2BR | $3,050 | +$100 (+3.4%) | +$850 (+38.6%) | $2,825 – $3,425 | 6 |
| 3BR | $2,950 | +$300 (+11.3%) | +$250 (+9.3%) | $2,950 – $3,000 | 17 |
| 3BR | $2,950 | +$300 (+11.3%) | +$250 (+9.3%) | $2,500 – $3,000 | 5 |
| 4BR | $4,000 | — | +$1,100 (+37.9%) | $4,000 – $4,000 | 1 |
| 4BR | $4,000 | — | +$1,100 (+37.9%) | $4,000 – $4,000 | 1 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
Borough Park vs. New York City — May 2023
| Bedrooms | Borough Park Median | NYC Citywide Median | Difference |
|---|---|---|---|
| Studio | $6,650 | $2,450 | +$4,200 (+171.4%) |
| Studio | $2,493 | $2,450 | +$43 (+1.8%) |
| 1BR | $2,625 | $2,477 | +$148 (+6.0%) |
| 1BR | $2,947 | $2,477 | +$470 (+19.0%) |
| 2BR | $2,900 | $2,800 | +$100 (+3.6%) |
| 2BR | $3,050 | $2,800 | +$250 (+8.9%) |
| 3BR | $2,950 | $3,225 | −$275 (-8.5%) |
| 3BR | $2,950 | $3,225 | −$275 (-8.5%) |
| 4BR | $4,000 | $4,000 | $0 (0.0%) |
| 4BR | $4,000 | $4,000 | $0 (0.0%) |
Citywide figure is the median of zip-level medians across 174 New York City zip codes with listings in May 2023.