Rents Are Spiking Near These NYC Subway Stops, Report Shows

NEW YORK — Living near the subway comes at a price — and that price is rising fast in Brooklyn, a recent report shows. The county of Kings is home to four of the five subway stations where rents in nearby apartments increased the most over the past year, according to a RentHop analysis published May 20.

The apartment rental website examined how the median one-bedroom rent near hundreds of subway stops changed year-over-year using data from February through April of 2018 and 2019.

Of the 314 stations where rents increased, RentHop found the biggest spike around the Classon Avenue stop on the G line lying on the border between Clinton Hill and Bedford-Stuyvesant. The median price of a one-bedroom unit there jumped 13.2 percent to $2,575, the report says.

The Bronx's Simpson Street station on the 2 and 5 lines and Prospect Heights's 2/3 Bergen Street stop tied for the second-biggest increase in the city, according to RentHop. The median rent jumped 12.3 percent near both stations to $1,573 and $3,200, respectively, the report says.

Brooklyn also grabbed the last two spots in the top five. The median price near the Metropolitan Avenue G stop in Williamsburg jumped 12.2 percent to $3,225, while the Flushing Avenue J/M station bordering Bushwick and Bed-Stuy saw an 11.3 percent rise to $2,449, RentHop found.

The Flushing Avenue and Simpson Street stations were among several where new developments drove up prices, RentHop says. That's also the case near the Bleecker Street 6 train stop, the Bryant Park station and the Times Square transit hub, according to the report.

Times Square was also the station with the second-highest median one-bedroom rent at $3,007, RentHop found. That's second only to the Union Square station, which had a median price of $5,490, the report says.

But there's still hope for budget-conscious straphangers. Some 115 stations saw decreases in median one-bedroom rents, with the biggest drop occuring at the Fort Hamilton Parkway F/G stop in Windsor Terrace, according to RentHop. The price there fell 8.7 percent year-over-year to $2,100, the report shows.

Use RentHop's interactive map below to see how the rent has changed near your subway stop.