Report

Brooklyn Multifamily Market Report – January 2025

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Market Overview

In early 2025, the New York–New Jersey region—particularly Brooklyn—continued to demonstrate resilient multifamily fundamentals despite broader economic uncertainty. The metro led the nation in year-over-year rent growth, with New York City rents up 5.4% and New Jersey following closely at 4.2%. Occupancy levels remained solid, buoyed by limited new supply and sustained renter retention amid high for-sale housing costs. The area's diverse job base and density continue to drive long-term rental demand.

About Yardi Matrix

Yardi Matrix provides localized market intelligence for real estate professionals through property-level data on ownership, construction, leasing, and performance. Its metro-specific reports, like those for New York City and New Jersey, offer in-depth insights into rent growth, occupancy trends, and asset class segmentation. These reports are particularly valuable for multifamily investors seeking to understand performance in high-density, supply-constrained markets such as Brooklyn and the Northeast corridor.

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