As my associate has stated its simply that as the demand increases so do the prices. The prices in Williamsburg which is next door to Buswick are also driving the Bushwick market up. As pointed out its a short trip to Manhattan and still less expensive .
It is not that anything has changed. The amount an apartment can rent for is subject to economic conditions and the laws of supply and demand. If the demand for rentals is high, the rental amount in turn goes up. Right now many parts of Bushwick are in high demand.
In the end, the amount you would be willing to pay for rent should be determined by your budget and your desire to live in a certain area. Good luck!!
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
As you've seen, however, it has been rediscovered, due initially to people priced out of Williamsburg, but now valued for its easy access to Manhattan via the JZ and L trains. Fashionable restaurants are springing up; one, Arancina, was even featured in today's NY Times.
I'm afraid Bushwick's days of bargain rent may be over. I've heard of people moving just east, to Ridgewood, or else to northern parts of Bed-Stuy; I would also check out Crown Heights, near the 3/4 trains, or Flatbush along the 2/5 or Q/B lines.