The average rental price across four Bronx neighborhoods saw a slight year-over-year uptick in March 2025, according to a new market report by real estate firm M.N.S. Real Estate.
The study, which analyzed trends in Concourse/Highbridge, Morris Heights/University Heights, Mott Haven and Riverdale, found that average rents across all unit types rose 1.56%—from $2,421 in March 2024 to $2,459 last month.
While one-bedroom and two-bedroom units experienced moderate gains, studio apartments recorded a drop in average price. Studio rents fell 4.47%, from $2,169 to $2,072—a notable reversal from the previous month, when prices surged by over 10%. The drop was driven primarily by Concourse/Highbridge, where studio rents declined from $1,857 to $1,798.
One-bedroom units saw the sharpest price hike among all apartment types, increasing 5.36% over the year. The average rent rose from $2,310 in March 2024 to $2,434 last month. Concourse/Highbridge experienced the most dramatic jump, with average one-bedroom rents rising from $2,017 to $2,324.
Two-bedroom units, which had seen a slight decrease in February, bounced back with a 2.63% increase, climbing from $2,796 in March 2024 to $2,869 in March 2025. Concourse/Highbridge again saw the most significant change, with average two-bedroom rents jumping from $2,465 to $2,731.
Due to the gains in one- and two-bedroom rents, Concourse/Highbridge joined Riverdale as the only two neighborhoods in the study to record an overall year-over-year rent increase.
Among the neighborhoods surveyed, Morris Heights/University Heights remained the most affordable, with March 2025 average rents at $1,798 for studios, $1,948 for one-bedrooms, and $2,382 for two-bedrooms.
At the other end of the spectrum, Mott Haven had the highest average rents across all unit types: $2,830 for studios, $2,960 for one-bedrooms, and $3,215 for two-bedrooms.
