Manhattan average rental prices are lower than in Brooklyn, reports the Wall Street Journal, and renters who left The City years ago are going back to save money.
"The rent (in Brooklyn) just keeps going up and up, even in the sluggish economy, even in the slight downturn in the housing market," Jonathan Bowles, director of the Center for an Urban Future, told the Journal.
Rental prices on Brooklyn studios rose 10.5 percent over the last year and on one-bedrooms by nearly 10 percent, while Manhattan studio rents for the same units rose by less than 8 percent and less than 5 percent respectively.
The paper refers to Brooklynites who pursue the savings as "a lucky handful", while determining that others may head to the outer boroughs, Queens and The Bronx, and further into areas of lower Brooklyn, like Bay Ridge where studios rent for much less.
"For a lot of people that turned to Brooklyn in part because it was a little of a bargain," Bowles added. "I think they're being forced to look elsewhere," he said.