Matrix Multifamily Brooklyn Report-May 2025

Market Overview

Brooklyn’s multifamily market continues to outperform nationwide dynamics. Advertised asking rents rose 0.5 percent on a trailing three-month basis through March, well above the national average of 0.1 percent. Occupancy remains high at 98.8 percent as of February, significantly outperforming the U.S. average. The borough also leads the city in development activity, with more units under construction than Queens and Manhattan combined.

About Yardi Matrix

Yardi Matrix is a premier provider of commercial real estate data and analytics across multifamily and other asset types. Their metro-level multifamily reports deliver timely insights on rent trends, occupancy, construction pipelines, and market fundamentals to support strategic decision-making by investors, operators, and analysts.