Monthly Rent Report
Sheepshead Bay Rent Report — May 2023
Asking rents in ZIP 11229, New York City, from 92 listings.
Median 1BR rent in Sheepshead Bay was $2,200 in May 2023, flat versus April 2023 and down 2.2% year-over-year. The middle half of 1BR listings asked between $1,898 and $2,410. That puts Sheepshead Bay $277 below the New York City citywide 1BR median of $2,477. The month's figures are based on 92 listings across 10 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $8,188 | +$3,938 (+92.6%) | +$6,538 (+396.2%) | $4,625 – $12,594 | 6 |
| Studio | $5,900 | +$1,650 (+38.8%) | +$4,250 (+257.6%) | $4,500 – $11,375 | 17 |
| 1BR | $2,200 | $0 (0.0%) | −$50 (-2.2%) | $1,898 – $2,410 | 15 |
| 1BR | $2,050 | −$150 (-6.8%) | −$200 (-8.9%) | $1,975 – $2,125 | 2 |
| 2BR | $2,778 | +$278 (+11.1%) | +$428 (+18.2%) | $2,388 – $3,150 | 15 |
| 2BR | $2,778 | +$278 (+11.1%) | +$428 (+18.2%) | $2,539 – $2,989 | 3 |
| 3BR | $3,200 | +$400 (+14.3%) | +$700 (+28.0%) | $3,000 – $3,500 | 20 |
| 3BR | $3,150 | +$350 (+12.5%) | +$650 (+26.0%) | $2,850 – $3,450 | 10 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
Sheepshead Bay vs. New York City — May 2023
| Bedrooms | Sheepshead Bay Median | NYC Citywide Median | Difference |
|---|---|---|---|
| Studio | $8,188 | $2,450 | +$5,738 (+234.2%) |
| Studio | $5,900 | $2,450 | +$3,450 (+140.8%) |
| 1BR | $2,200 | $2,477 | −$277 (-11.2%) |
| 1BR | $2,050 | $2,477 | −$427 (-17.2%) |
| 2BR | $2,778 | $2,800 | −$22 (-0.8%) |
| 2BR | $2,778 | $2,800 | −$22 (-0.8%) |
| 3BR | $3,200 | $3,225 | −$25 (-0.8%) |
| 3BR | $3,150 | $3,225 | −$75 (-2.3%) |
Citywide figure is the median of zip-level medians across 174 New York City zip codes with listings in May 2023.