Strongest March for Leasing Activity in Five Years

Brooklyn’s rental market had its strongest March for signed leases since 2021. Roughly 1,320 leases were reported signed, up 5% year over year, and leasing activity also rose 13% versus February. This marked the sixth consecutive month of annual gains.

At the same time, supply tightened. Active listings fell 8% year over year to 3,315, and listings moved faster. Days on market declined 11% year over year to 49 days, as lower inventory and steady demand pushed apartments to lease more quickly.

Key Metrics at a Glance

Leases signed: 1,320 (up 5% year over year, up 13% month over month)
Median rent: $4,150 (up 4% year over year, down 3% from February)
Average rent: $4,741 (up 2% year over year, down 4% from February)
Active listings: 3,315 (down 8% year over year, down 8% from February)
Days on market: 49 (down 11% year over year, down 21% from February)

Leasing Activity by Bedroom

Leasing activity was split across unit types, with studios and one bedrooms posting annual gains while larger units pulled back. Studios surged 52% year over year to 233 signed leases, a sign of continued demand for smaller, value-focused units. Two- and three-bedroom activity declined, with three bedrooms down 10% year over year.

Studios: 233 (up 52% year over year)
One bedrooms: 584 (up 7% year over year)
Two bedrooms: 377 (down 3% year over year)
Three bedrooms: 110 (down 10% year over year)

Brownstone apartment building facade framed by trees, with warm light glowing from the entryway.

Average Rent by Bedroom

Average rent rose across all unit types, led by three bedrooms.

Studios: $3,385 (up 7% year over year)
One bedrooms: $4,135 (up 6% year over year)
Two bedrooms: $5,396 (up 6% year over year)
Three bedrooms: $7,440 (up 11% year over year)

Days on Market by Bedroom

Days on market showed mixed annual trends. Studios and one bedrooms leased the fastest, while two bedrooms were the exception, rising slightly year over year.

Studios: 42 days (down 13% year over year)
One bedrooms: 45 days (down 18% year over year)
Two bedrooms: 55 days (up 6% year over year)
Three bedrooms: 63 days (down 10% year over year)

Speed bump sign on a tree-lined Brooklyn street with sunlight filtering through the leaves.

Neighborhood Highlights

Activity varied widely across neighborhoods, with gains concentrated in a handful of areas rather than boroughwide. Leasing activity surged in Carroll Gardens / Gowanus / Red Hook and Greenpoint, supported by new rental launches concentrated in those areas. By contrast, DUMBO saw signed leases fall 48% year over year while average rent rose 15%.

Largest year-over-year increases in leases signed

Carroll Gardens / Gowanus / Red Hook: 93 vs 49 (up 90%)
Greenpoint: 117 vs 67 (up 75%)
Fort Greene / Clinton Hill: 128 vs 83 (up 54%)

Largest year-over-year declines in leases signed

DUMBO: 11 vs 21 (down 48%)
Brooklyn Heights: 35 vs 55 (down 36%)
South Brooklyn: 73 vs 107 (down 32%)

Selected average rents by neighborhood (March 2026)

DUMBO: $7,295 (up 15%)
Brooklyn Heights: $6,838 (down 5%)
Park Slope: $5,347 (up 2%)
Greenpoint: $5,385 (down 3%)
Bedford-Stuyvesant: $3,922 (up 7%)

Notes and Methodology

Figures reflect leases reported signed within the report month by any agency in Brooklyn and may include furnished and or short-term rentals. Not all signed leases are publicly reported. Price figures are based on last asking prices for leases reported signed, but actual rents may be lower. Active listings reflect units listed as of the last day of the report month. Days on market only reflects units that were listed for more than one day prior to being marked as leased.

Prospect Park South includes Windsor Terrace, Greenwood Heights, Prospect Park South, Kensington, and Flatbush. South Brooklyn includes neighborhoods south of Foster Avenue, west of McDonald Avenue south of Greenwood Cemetery, east of Utica Avenue south of Fulton Street, and east of East New York Avenue south of Clarkson Avenue.

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Brooklyn Rental Market Report