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And the single neighborhood where rents increased the most is Corona: In 2010, the median asking rent was $1,150/month now, it’s $2,060/month, a change of 79 percent.Īccording to StreetEasy economist Nancy Wu, neighborhoods like Corona, Long Island City (where rents have gone up significantly in the past year alone), and Astoria are responsible for much of the change in Queens. The borough where rents spiked the most is Queens there, the median price went up by a whopping 30 percent-from $1,700/month in 2010 to $2,217/month in 2019. The takeaway: The outer boroughs saw the biggest spikes-both on a broad scale, and when you dig into the neighborhood-specific changes. (Staten Island was not included in the analysis StreetEasy didn’t have enough rental data from the borough in 2010 that could paint an accurate picture of median asking rent cumulative over the decade.) The listings company’s economists compared the median asking rent in 2010 versus 2019 in Brooklyn, Manhattan, the Bronx, and Queens, as well as within each borough, and found some interesting-but not exactly surprising-results. (The median rental price is now around $3,600/month, according to Douglas Elliman’s latest rental report.)īut where did the biggest changes happen? We asked StreetEasy to crunch the numbers to show how-and where-rents have changed from 2010 to 2019.

But by the end of 2019, rents had skyrocketed, with back-to-back months where prices hit record highs.

At the beginning of the decade, the city was coming out of a period when rents had significantly dipped thanks to the 2008 recession. It’s been a roller coaster of a decade for New York City renters.