I have clients who ask if Brooklyn is still cheaper than Manhattan and for years the answer was yes. People moved to Brooklyn for better prices and more space but now due to everyone finding Brooklyn desirable, the price gap between apartments in Brooklyn and Manhattan barely exists and the "it" neighborhoods in Brooklyn are becoming as expensive as Manhattan. The most expensive NYC apartments can now be found in neighborhoods like DUMBO and Williamsburg.
According to Stephen J. Smith of NextCity, rents grew the fastest in Brooklyn. Average monthly rent rose by 77% during the Bloomberg years, besting the 65% growth in Manhattan and the Bronx.
Below is a graph with showing the rents over the years. (Courtesy of Quartz)
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