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Queens takes the lead as Manhattan rents stall

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Manhattan may still be the most expensive New York borough, but Queens is where rents are rising fastest.

In the last three months of 2016 Manhattan rents grew by just 1%, as did rents in Brooklyn. Queens, on the other hand, saw rents rise by 5%, closely followed by The Bronx with a 4% increase, as renters start looking for more affordable places to call home.

With 44% of New York City's roommates living in Brooklyn, 40% in Manhattan and just 11% in Queens, it's clear most people are still living in expensive areas. Even with a slowdown in rent growth, Manhattan has an average monthly room rent of $1,535. That means moving from Manhattan to Queens would save the average roommate almost $600 a month. Moving to The Bronx would save $713 - that's over $8,500 a year.

But if you're intent on making Manhattan home, the only way to go is up. Upper Manhattan is the last neighborhood left on the island with average room rents under $1,000 per month (and that only just scrapes in at $995, leaving you barely enough left for a sandwich). So, if affordable rent is what you're looking for, maybe it's time to leave the island. And if you've already made the move to Brooklyn, perhaps you should be looking at Queens.

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