If you too are sad about leaving the city, annoyed that we have to move out, and are daydreaming about having your own permanent place to really call home in the city, you may want to read this recent Wall Street Journal article on rent rates in Manhattan and Brooklyn.
The article focuses on how one man who has lived in Williamsburg for years may move to Manhattan for a cheaper rent.
Here is an excerpt from the article:
“With the mean rent for a studio in Williamsburg topping $2,700, apartment hunters are likely to find cheaper places in Greenwich Village, where mean studio rents for non-doorman buildings are just more than $2,500 a month, according to June figures from MNS, a real-estate company.”
And rents in Brooklyn are rising faster than their Manhattan counterparts, meaning the pricing gap in many top neighborhoods is likely to become even more marked.
Rents for studios in Manhattan were up almost 8% on a mean basis in June from the same month a year earlier, compared with a 10.4% jump in Brooklyn. One-bedrooms also rose by less than 5% in Manhattan in the same period, while rising nearly 10% in Brooklyn.”