Rental apartments in four Brooklyn neighborhoods were more affordable in August when compared to the same time last year, according to a report from StreetEasy.
Rent on units in DUMBO, East New York, Midwood and Downtown Brooklyn all fell in August 2025 when compared to last year, as inventory increased, the report said. This is despite median asking rent in Brooklyn rising 6.9% from a year ago to $3,850.
Rent in DUMBO fell by 8.2% to a median asking rent of $5,600, while apartments in East New York were 7.7% cheaper at $3,000 per month, according to the report.
Meanwhile, Brooklyn remained one of the most competitive boroughs for buyers, with homes sold in August receiving a median of nearly 100% of their last asking price. One in three (33.5%) homes in Brooklyn sold above asking in August, well above 19.6% for the entire city.
Moreover, a 6.1% increase in new contracts in August shows that demand for homes in Brooklyn endures, despite the borough’s rapidly rising median asking price. The median asking price in Brooklyn sits at $1.1M, up 7.6% from last year — the most significant gain of any borough in the city, the report said.
