New York City's real estate market has been cooling, and a side effect of that is the gradual nudging down of rental prices in hot neighborhoods. In Brooklyn, which for years has seen torrid growth and soaring rents, the average rent has fallen year over year, according to data from Rentcafe.
Ten or fifteen years ago, Brooklyn was oriented towards jobs based in Manhattan. Today, that is no longer the whole picture, as there are significant employment clusters in Downtown Brooklyn and Sunset Park.