Brooklyn’s rent price increased 23.6 percent compared to August ’21
Legal Aid Society reaffirms demand for Albany to respond by providing protections for tenants
The Legal Aid Society called upon Albany lawmakers Friday to enact proposed “Good Cause” legislation to respond to sharp increases in rent prices across the Brooklyn borough and equip renters with unregulated units with basic protections against unwarranted evictions or unjust rent increases, citing the August 2022 Elliman Report which indicates rising housing costs.
According to Elliman, the average rent price in Brooklyn during Aug. 21 was $3,218, compared to last month’s $3,976 average, on track with the staggering 32.4 percent increase in net effective rent. The rental market in Brooklyn continues to press higher, with the mean rent skyrocketing 27.3 percent in the same period, 18.7 percent above pre-pandemic levels. Luxury buyers forced into the rental market by high mortgage rates and a poor buyers’ market.
“Tenants throughout New York City in unregulated units are now experiencing first-hand what happens when landlords have complete control over lease adjustments: rents double, and people lose their homes,” said Adriene Holder, chief attorney of the Civil Practice at The Legal Aid Society.