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Cobble Hill Rental Prices Surpass Manhattan, Report Finds

By Nikhita Venugopal | October 6, 2015 5:16pm | Updated on October 6, 2015 6:24pm
 Businesses on Court Street in Cobble Hill.
Businesses on Court Street in Cobble Hill.
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DNAinfo/Nikhita Venugopal

COBBLE HILL — Living in a brownstone Brooklyn neighborhood may be more like Manhattan than you think. 

Cobble Hill rentals, among the most expensive in the borough, also surpassed Manhattan median rents in 2015, according to a new report from StreetEasy published Tuesday.

The neighborhood's forecasted median asking rent of $3,210 is 3.8 percent higher than Manhattan's, which is projected to reach $3,092 this year, the report said. 

Cobble Hill has seen a 42.3 percent rise in rental prices in the last five years.

StreetEasy's chart ranks Cobble Hill as the third most expensive Brooklyn neighborhood for rentals this year, behind Williamsburg and DUMBO. 

DUMBO, positioned as the fourth priciest neighborhood in the entire city, has a median asking rent of $4,079 — almost 32 percent more than Manhattan.

And surrounding areas are catching up, too. Neighborhoods like Park Slope, Brooklyn Heights, Boerum Hill, and Carroll Gardens are within 10 percent of Manhattan prices, the report found.

But even as Brooklyn encroaches on Manhattan's rental market, the island is still far ahead in terms of home sales prices, according to StreetEasy.