MORNINGSIDE HEIGHTS — The neighborhood surrounding Columbia University is getting pricier each year — with rents jumping nearly 80 percent over the past five years, according to a recent analysis by StreetEasy.
Monthly rents in Morningside Heights have been on a steady upward trajectory, increasing 78.6 percent over that span and keeping pace with average rents across the borough, StreetEasy's latest report said.
The median asking rent for an apartment of any size in the neighborhood was $2,976 in 2015, only 3 percent lower than the median asking price in Manhattan.
While rental units on the Upper West Side are more expensive, the rate of increase in their rents has not been as swift, the report showed.
Rents have risen 34.6 percent on the Upper West Side during that period, with rents in Lincoln Square increasing only 23.3 percent, according to StreetEasy.
The only other neighborhoods where rents have increased at a rate on par with Morningside Heights were Clinton Hill in Brooklyn and Astoria in Queens, with 76 percent and a 78.6 jump over the past five years, respectively.