People looking to rent in a cool yet inexpensive neighborhood will likely want to consider BedStuy (Bedford-Stuyvesant or Bed-Stuy), Bushwick and Astoria. Landlords looking to buy multifamily buildings in areas with good rental markets will also want to consider these neighborhoods as well. Based on the comparative data, it would suggest that as an investment, comparably priced multi-families would yield the most return in Bushwick when units are configured as studios and one bedrooms. Of course in smaller buildings this configuration may or may not exist and may or may not be feasible to create but for bigger developments or ground-up developments the prices below are worthy to note.
Here is a quick rent by number of bedrooms and available supply comparison of Bedstuy with data taken from Streeteasy.com and Renthop.com:
Rents in Bedstuy per Bedroom (Streeteasy):
| Bedrooms: | Per Bedroom: | Average Rent (Whole Apt): | # avail |
| 4 beds | $868.00 | $3,472.00 | 128 |
| 3 beds | $943.00 | $2,829.00 | 283 |
| 2 beds | $1,157.00 | $2,314.00 | 317 |
| 1 bed | $1,935.00 | $1,935.00 | 204 |
| studio | $1,775.00 | $1,775.00 | 31 |
| Total Avg: | $1,335.60 | $2,465.00 | 963 |
These numbers are corroborated by Renthop.com (slightly higher):
| Bedrooms: | Per Bedroom: | Average Rent (Whole Apt): | # avail |
| 4 beds | $903.00 | $3,612.00 | 93 |
| 3 beds | $995.00 | $2,985.00 | 240 |
| 2 beds | $1,220.00 | $2,440.00 | 284 |
| 1 bed | $2,231.00 | $2,231.00 | 168 |
| studio | $2,019.00 | $2,019.00 | 38 |
| Total Avg: | $1,473.60 | $2,657.40 | 823 |
Astoria vs Bushwick vs Bedstuy on Renthop:
| Bedrooms: | $ per Bed: Astoria- Renthop | $ per Bed: Bushwick- Renthop | $ per Bed: Bedstuy- Renthop |
| 4 beds | $725.00 | $894.00 | $903.00 |
| 3 beds | $1,057.46 | $980.00 | $995.00 |
| 2 beds | $1,265.15 | $1,289.00 | $1,220.00 |
| 1 bed | $2,156.50 | $2,412.00 | $2,231.00 |
| studio | $2,112.33 | $2,472.00 | $2,019.00 |
| Total Avg $ per bed: | $1,463.00 | $1,609.00 | $1,473.00 |
Some interesting things to note about these markets:
-There are a lot of 1 bedrooms available in Astoria.
-There are not many studios available in Bushwick.
-There are very few 4+ Bedrooms available in Astoria (12)
Bushwick has more expensive studios and one bedrooms which pushes up the average cost per bedroom compared to Bedstuy and Astoria. There are very few 4 bedrooms in Astoria yet the price per bedroom for 4 bed apartments is lower in Astoria. That would suggest less demand for bigger apartments in Astoria than in Bushwick or Bedstuy..
For more detailed information on rental pricing and inventory, contact The Real Estate Nerd, Cary Tamura agent with Corcoran HERE