The average rental price across four Bronx neighborhoods—Concourse/Highbridge, Morris Heights/University Heights, Mott Haven and Riverdale—continued following year-over-year trends in February 2025, with overall rents rising slightly, according to a report by real estate firm M.N.S. Real Estate.
Across all unit types, the average rent increased by 1.77%, from $2,430 in February 2024 to $2,473 in February 2025. As seen in January, prices rose for studios and one-bedroom units, while two-bedroom units remained mostly unchanged, dipping slightly.
Studios saw the most significant growth, with rents surging 12.67% year over year, from $1,929 in February 2024 to $2,173 in February 2025. Riverdale experienced the sharpest increase, with studio rents climbing from $1,733 to $2,014.
One-bedroom units saw a 3.06% increase, rising from $2,339 to $2,411. Concourse/Highbridge had the steepest gain in this category, with average one-bedroom rents jumping from $2,093 to $2,316.
In contrast, two-bedroom units saw a slight 1.15% decline, dropping from $2,877 in February 2024 to $2,843 in February 2025. Mott Haven recorded the biggest decrease, with two-bedroom rents falling from $3,538 to $3,337.
Three of the four neighborhoods experienced year-over-year rent increases, with Mott Haven being the exception. However, despite this dip, Mott Haven remained the most expensive area overall, with studios averaging $2,757 and one-bedroom units at $2,901.
Concourse/Highbridge remained the most affordable neighborhood for studios, with rents averaging $1,748 in February 2025. Morris Heights/University Heights continued to offer the lowest prices for one-bedroom and two-bedroom units, at $1,959 and $2,315, respectively.
