NYC Rents Have Risen by More Than 50% in These Five ZIP Codes Since 2020

Using Zillow Observed Rent Index data, this analysis compares average asking rent levels across 83 New York City ZIP codes from January 2020 through April 2026. ZIP-code-level rent growth is measured as the percentage change between each ZIP code’s January 2020 rent level and its April 2026 rent level. Neighborhood names are included for geographic context, but ZIP codes do not map perfectly onto neighborhood boundaries.

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Since the start of 2020, rent growth has been broadly felt across New York City. Among the 83 ZIP codes tracked in this analysis, every ZIP saw rents rise by at least 17.8%, while the median increase was 33.5%. However, the sharpest increases were concentrated in a much smaller group of markets. Five NYC ZIP codes recorded rent increases of more than 50%, led by a mix of Brooklyn and Bronx markets where affordability pressure, constrained supply, neighborhood amenities, and local demand anchors have likely combined to push rents higher.

11231: Carroll Gardens, Red Hook, Columbia Street Waterfront, and Cobble Hill Edge

Brooklyn ZIP code 11231 posted the largest rent increase in the sample, with rents rising 62.3% since the start of 2020. The ZIP includes Carroll Gardens, Red Hook, the Columbia Street Waterfront District, and portions of Cobble Hill, bringing together several distinct housing-market dynamics.

The area’s growth likely reflects a combination of constrained rental supply in brownstone Brooklyn, strong demand for lower-rise neighborhood amenities, and rising interest in Red Hook’s waterfront. The ZIP also sits near several high-cost Brooklyn submarkets, creating room for spillover demand from renters seeking access to northwest Brooklyn. In Carroll Gardens and nearby brownstone areas, the housing stock is difficult to scale quickly. In Red Hook and along the waterfront, neighborhood character and long-term development expectations may have added to demand, even as transit access remains less direct than in other parts of Brooklyn.

10467: Norwood, Allerton, Williamsbridge, and Bedford Park Edge

Bronx ZIP code 10467 recorded the second-largest rent increase, with rents rising 60.9% since 2020. Covering Norwood, Allerton, Williamsbridge, and the edge of Bedford Park, the ZIP reflects a different type of growth story than northwest Brooklyn.

Here, rent growth is consistent with the continued repricing of comparatively attainable Bronx rental markets. As affordability pressures intensified across New York City, households priced out of higher-cost neighborhoods had stronger incentives to look deeper into the Bronx. The area also benefits from a substantial renter base, transit connectivity, and nearby institutional anchors, including medical, educational, and park assets. In this sense, 10467 is partly a Bronx catch-up story: a renter-heavy, comparatively affordable market being repriced upward as citywide rent pressures spread farther from the urban core.

11229: Sheepshead Bay, Marine Park, and Gerritsen Beach Edge

Brooklyn ZIP code 11229, covering Sheepshead Bay, Marine Park, and the Gerritsen Beach edge, saw rents rise 59.4% since 2020. The area’s growth likely reflects southern Brooklyn’s value proposition: comparatively attainable rents, more residential and family-oriented housing stock, coastal and park access, and sufficient transit connectivity through the B/Q corridor.

As affordability pressures intensified across the city, neighborhoods farther from Brooklyn’s highest-cost core became more attractive to renters looking for space, stability, and relative value. Sheepshead Bay and Marine Park offer a different rental proposition than northwest Brooklyn or Manhattan: less central, but still connected; more residential, but not disconnected from the city’s employment centers. Recent development activity may add supply over time, but 11229’s rent growth suggests that demand has moved faster than available inventory.

10462: Parkchester, Pelham Parkway, Van Nest, and Morris Park Edge

Bronx ZIP code 10462, covering Parkchester, Pelham Parkway, Van Nest, and the Morris Park edge, saw rents rise 56.6% since 2020. The ZIP’s growth likely reflects a combination of relative affordability, deep rental-market infrastructure, and transit-connected convenience.

Parkchester is a major planned apartment community with thousands of units, giving the area a substantial renter base and making it one of the Bronx’s more established middle-market rental anchors. Pelham Parkway and nearby residential corridors add parks, retail, schools, and medical or institutional demand drivers. The area also benefits from subway access and neighborhood infrastructure at rents that remain below many of the city’s higher-cost submarkets. Like other Bronx ZIPs in the top five, 10462’s increase reflects both demand growth and a catch-up dynamic as comparatively attainable rental markets have been repriced upward.

10458: Belmont, Fordham, Bedford Park, Bronx Little Italy, and Fordham University Area

Bronx ZIP code 10458 rounds out the group of NYC ZIP codes where rents have risen by more than 50% since 2020, with an increase of 52.7%. Covering Belmont, Fordham, Bedford Park, Bronx Little Italy, and the Fordham University area, the ZIP has one of the clearest institutional and cultural anchors among the top five.

Fordham University provides a durable source of rental demand, supporting students, faculty, staff, and university-adjacent households. Arthur Avenue and Bronx Little Italy give the area a distinct cultural and commercial identity, while Fordham Road adds a major retail and services corridor. The ZIP also benefits from transit connectivity and proximity to major institutional and open-space assets, including the New York Botanical Garden and Bronx Park. Still, like the other Bronx ZIPs in the top five, 10458’s large percentage gain also reflects the mathematics of a lower starting rent base and the broader repricing of comparatively attainable rental markets.

Beyond the Top Five

While the five fastest-growing ZIP codes stand out, the broader pattern is just as important. Rent growth since 2020 has been widespread across New York City, with every ZIP code in the sample posting an increase of at least 17.8%. The median ZIP saw rents rise by 33.5%, underscoring how broadly rental affordability pressures have been felt across the five boroughs.

The top of the ranking also points to a post-2020 rental market that has not been defined by Manhattan alone. Several high-income Manhattan ZIP codes have seen strong rent growth, reflecting the recovery of urban-core demand. However, the largest increases in this sample were concentrated in Brooklyn and the Bronx. In many of these areas, the story is not simply one of neighborhood transformation. It is also about affordability pressure, limited rental supply, local amenities, and the repricing of markets that began the decade at lower rent levels than the city’s most expensive neighborhoods.