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Interactive Map Shows Median Rent Near Every NYC Subway Stop

By

Jake Offenhartz

Published May 22, 2018

Modified May 22, 2018

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via RentHop

By

Jake Offenhartz

Published May 22, 2018

Modified May 22, 2018

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As the luxury construction boom has given way to rising vacancy rates and ample concessions at some of New York's poshest buildings, the city has a whole has begun to experience a slight slide in median rents—a positive development, even if it's unlikely to change the fact that the poor and middle class still face a very real housing crisis brought on by rapacious landlords and elected officials.

Until we solve that problem, here is a fun map to play with, which looks at changes in median rent in the last year, broken down by subway stop:

The graphic was created by the real estate company RentHop, using their listings on one-bedroom apartments over the last year, along with additional subway and pricing data from the MTA and CUNY-Baruch College.

Taken together, those data sets show that around half of Manhattan's subway stops experienced negative rent growth, including an 8.2 percent drop in the area around Herald Square (average current rent: $3,350), and 10.2 percent drop near the Chambers Street 1/2/3 station ($3,550).

Interestingly, the market in North Brooklyn—whose residents will face a potentially disastrous L train shutdown in just eleven months —saw less significant rent decreases than Manhattan. Apartments near the Bedford Avenue L station (average rent: $3,122) are down 2.5 percent, while those near the Central Avenue M station ($2,200) are down 4.4 percent.

Less surprisingly, the company also found that major transit hubs ranked among the most expensive stops on the map. Here's a look at the current average rent near some of those hubs, as well as the year-over-year (YoY) changes, as determined by RentHop:

Here are the subway stops that saw the largest decrease in rents:

And here are the stops that saw an increase in rent:

You can read the full report here. (h/t Curbed.)

Tagged

affordable housing

luxury apartments

real estate

rentalhop

subway

Jake Offenhartz

Jake Offenhartz is a former Gothamist reporter.

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Gothamist is funded by sponsors and member donations

Gothamist is funded by sponsors and member donations

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