Apartment rents in parts of the Bronx declined slightly in May, with two-bedroom units leading the drop, according to a new report by real estate firm MNS. However, the report only analyzes market data from four neighborhoods: Mott Haven, Concourse/Highbridge, Morris Heights/University Heights, and Riverdale.
According to MNS’s May 2025 Bronx Rental Market Report, the average rent across the tracked neighborhoods dropped 1.06% last month — from $2,520 in April to $2,493 in May. The dip was driven primarily by a 3.62% decrease in two-bedroom units, which fell from $3,002 to $2,893.
One-bedroom apartments saw a more modest decline of 0.80%, now averaging $2,447. Studio apartments were the only category to see a month-over-month increase, rising 2.30% to $2,138.
Mott Haven remained the most expensive neighborhood in the sample, with average studio rents at $2,955, one-bedrooms at $2,872, and two-bedrooms at $3,364. While one- and two-bedroom rents in Mott Haven dipped slightly over the past month, studios increased by 2.4%, reflecting continued demand for smaller units in the South Bronx hub.
Morris Heigts and University Heights — the most affordable neighborhood in the report — saw steep declines in two-bedroom rents, which fell by 9.1% to $2,273. Studios and one-bedrooms in the area increased slightly, to $1,912 and $2,000, respectively.
In Concourse/Highbridge, studios rose 9.1%, to $2,061, and one-bedroom units increased 6.2%, to $2,423. Two bedrooms rented for $2,758, representing a 5.8% drop.
Riverdale saw rents for studios decline 6.1%, to $1,912, and one-bedrooms down 7.7% to $2,494. Meanwhile, two-bedrooms increased a modest 0.9%, to $3,177.
Year-over-year, average rents across the four neighborhoods remain relatively stable: studios are down 0.65%, one-bedrooms are down 1.75%, and two-bedroom rents are up 1.70%.
Though the data reflects a narrow slice of the Bronx market, the findings suggest a softening in demand for larger units, while studios continue to attract renters seeking affordability amid rising costs in other boroughs.
MNS compiles its monthly Bronx rental reports from non-doorman buildings only, meaning the figures do not represent the full spectrum of rental options across the borough.
