Martix Multifamily Brooklyn Report-August 2023 August 23, 2023

Brooklyn Rent Growth Continues

Brooklyn rents increased 0.6 percent on a T3 basis through June to $3,338, well above the national $1,726. Occupancy rates for the borough came in at 98.7 percent, one of the highest rates nationwide. Brooklyn developers also kept busy, but transactions lagged, mirroring the national trend.