Report: Tracking one-bedroom rents near NYC subway stops
With a median rent of $5,490, Manhattan’s Union Square continues to be the most expensive stop, according to new data from RentHop.
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Many savvy New Yorkers apartment hunt by subway line or station to optimize commuting time. (Of course living close to the subway really doesn’t do squat for you when your train is delayed because of a sick passenger, switching problems, or because a crew member needed a bathroom break.)
If you're looking for an apartment close to a subway, consider a new report from the listings site RentHop, which maps rental prices for one-bedroom apartments by train stops to see which way prices are going. It found that overall, the median rent for one bedrooms went up by 3 percent this year. The study compared a three-month period, February 1 through May 1 of this year to the same period last year.
In addition, the report found that rents increased around 314 stations and fell at 115 stops. Around 23 stops, there was no change in the median rent for a one bedroom.
New developments are having an impact on the median rent along the G line in Brooklyn, including around these stops: Classon Avenue ($2,575, +13.2 percent); Metropolitan Avenue ($3,225, +12.2 percent); and the L train at Morgan Avenue ($2,475, +8.9 percent).
The report found that the Union Square area continues to be the most expensive stop in NYC. The one-bedroom median rent is $5,490, 3.9 percent higher than last year.
One-bedroom apartments around these stops saw some of the biggest rent drops:
Fort Hamilton Parkway F and G
$2,100 (-8.7%)
Lorimer Street J and M
$2,566 (-8.4%)
Canal Street A, C, and E
$4,120 (-7.2%)
Jackson Avenue 2 and 5
$1,632 (-6.1%)
36 Street D, N, and R
$1,850 (-5.7%)
One-bedroom apartments around these subway stations saw rent jumps:
Classon Avenue G
$2,575 (13.2%)
Simpson Street 2 and 5
$1,573 (12.3%)
Bergen Street 2 and 3
$3,200 (12.3%)
Metropolitan Avenue G
$3,225 (12.2%)
Flushing Avenue J and M
$2,449 (11.3%)
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