‘The prices are just horrendous.’ Rising Bronx rents push residents to consider leaving the borough
According to recently released housing market data, rental prices in the Bronx increased 1.3% from April to May and are up nearly 4% year over year.
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Rental prices across the Bronx are continuing to rise, leaving some longtime residents to question whether they can afford to remain in the borough they have long called home.
According to recently released housing market data, rental prices in the Bronx increased 1.3% from April to May and are up nearly 4% year over year. The data also shows some neighborhoods experiencing steeper increases than others.
Year over year, rental prices in Concourse Village and Highbridge rose nearly 9%, while rents in Morris Heights and University Heights increased more than 6%. In Riverdale, prices climbed more than 7.5% compared to the same time last year.
The average price for studio, one-bedroom and two-bedroom apartments in the Bronx also increased by at least 3.5% compared to last year.
The rising cost of rent has become increasingly difficult to ignore for residents like Evol Green.
“The prices are just horrendous,” Green said.
Green, who has lived in the Bronx for the last 15 years, said the recent increases have forced him and his family to begin considering moving out of the borough altogether.
“Many of our friends who lived in the Bronx have actually relocated to Connecticut because...it's cheaper to rent there. So we've given that a thought,” Green said.
Still, Green said leaving would come at a personal cost, with deep roots tying him to the community.
“This is where family is, this is where our church is. This is where activities are. This is our community,” Green said.
Housing advocates say Green’s concerns reflect a larger issue that many Bronx residents are facing.
Executive Director of Bronx Neighborhood Housing Services Gladstone Johnson said rising housing costs are pushing longtime residents out of the communities where they were raised.
“These people who are born in the Bronx and grew up here, it's almost like we're asking them to leave,” Johnson said.
Johnson said renters make up the majority of residents in the borough and believes increasing the housing supply is critical to addressing affordability challenges.
“There needs to be more, not just rental, apartments, but also apartments for our Gen Zs coming into the marketplace also to be able to own,” Johnson said.
Still, Johnson warned that even with greater urgency around the housing crisis, meaningful relief could take years.
“Problem has been neglected for so long, even though they're all paying attention and are on board with doing it. It'll take two or three or up to four years,” Johnson said.
While some neighborhoods continue to see sharp increases in rent, there were a few areas where they declined over the past year. In Mott Haven, rental prices fell more than 4.5% compared to last year.
Housing advocates are encouraging renters who are struggling with affordability, as well as first-time homebuyers, to connect with local organizations to learn what resources may be available.
