- Brooklyn, Jersey City, and Queens ranked among the top five US submarkets for apartment deliveries since 2014.
- Collectively, the three added over 86K units in the past decade, accounting for more than half of New York City’s new supply.
- Rents in these submarkets offer monthly savings of up to $1,500 or more compared to even Manhattan’s most affordable neighborhoods.
A Surge In Supply Outside Manhattan
New data from RealPage shows Brooklyn, Jersey City, and Queens led US apartment deliveries over the past decade, reports GlobeSt. Between 2014 and 2024, Brooklyn delivered 35,890 units, Jersey City added 27,813, and Queens completed 22,960, securing three of the top five spots nationally.
Commuter Influence
New York City reports that over 880K people commute to Manhattan from other boroughs, with another 540K coming from outside the city. This massive commuter population has driven demand—and apartment deliveries—in nearby submarkets. Brooklyn alone accounted for a third of all multifamily deliveries in the city over the past decade, with Queens contributing 21%.
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A Value Proposition For Renters
As of February, average monthly rents in Brooklyn were $4,710—roughly $470 less than Manhattan’s Financial District, the borough’s least expensive rental market. Queens and Jersey City offered even deeper discounts, averaging $3,700 monthly, a savings of approximately $1,500 over Manhattan’s entry-level neighborhoods. The priciest Manhattan area, the Lower East Side, commanded rents around $6,100.
Access And Convenience Still A Challenge
Despite their proximity—each about eight miles from Midtown—commute times from Brooklyn and Queens can stretch to 45 minutes by train or longer by car. Jersey City, just across the Hudson, often offers a faster commute into Manhattan, adding to its appeal for renters seeking both affordability and access.
Philadelphia Joins The List—Barely
Though not a true commuter market, Center City Philadelphia was also among the top US submarkets for apartment deliveries, with nearly 17,400 new units added. While the city is about a two-hour drive from Manhattan, renters making that long-haul commute could theoretically save more than $2,600 per month compared to Manhattan’s highest-priced neighborhoods.
Why It Matters
The apartment boom in outer-borough and nearby submarkets reflects a growing trend of renters prioritizing space, affordability, and accessibility. For developers, these areas offer opportunities to meet persistent demand while capitalizing on lower land and construction costs than in core Manhattan.
What’s Next
As affordability pressures persist and Manhattan rental prices continue to rise, expect more high-density residential development in its surrounding submarkets. With infrastructure improvements and shifting commuter patterns, Brooklyn, Jersey City, and Queens are likely to remain strongholds for new multifamily supply in the decade ahead.
