Living room at a luxury apartment at 57 Reade Street. Zumper's February’s Rental Report has been released, and its data revealed New York City’s rental market is still second only to San Francisco in its fierce competitiveness and monthly rental price. While 1- and 2-bedrooms are up 7.3 and 3.1 percent, respectively, from last year, February was a slightly less expensive month than January, showing a 1.8 decrease for 1-bedrooms and a 2.4 percent fall for 2-bedrooms.

Photo: The Living Room at 605 West 42nd Street A new year has begun and rental predictions for NYC real estate in 2016 are already dynamic seedlings of thought. Although the city is a shapeshifting landscape with equally elusive intangible and concrete trends, it’s still fun to forecast the future.

Photo: Luxury Real Estate Manhattan's view from downtown overlooking Brooklyn Innovative office space startup extends their business strategy to living spaces, representing a shift in lifestyle needs for New York buyers.

Photo: Living Room at 37 Great Jones Street, a luxury rental building in NoHo. We all know moving is a huge stressor, and even if you are financially well off, the monetary burden of moving can be quite significant. Two leading factors that make buying a home in the long term seem the better choice than renting are cutting back on the number of times one needs to move, along with the perceived investment opportunity.

2015 has been a banner year for the Brooklyn rental market. As rents in Manhattan finally reached their tipping point, residents have been flocking to Brooklyn, causing the borough’s rental costs to rapidly increase. That said, Brooklyn is still on the rise, and if you’re looking for a luxury rental in 2016, the options are endless.

It seems that in Manhattan, a new tall, glassy building appears to be racing towards the sky every minute. While this isn’t exactly the case, the planning and production rate of these buildings does occur at a steady pace.

In a recent study compiled by the Douglas Elliman appraiser, Jonathan J. Miller, housing prices in Brooklyn are skyrocketing at a rapid rate. And in some instances, Brooklyn apartment rentals have been more costly than their Manhattan counterparts.

Manhattan may still reign supreme as the priciest rental market in the city, but Brooklyn’s rental costs are actually growing at a faster rate.

Rents are soaring throughout NYC as supply is dwindling.