Another neighborhood seeing rent growth is Cobble Hill. Compared to December, 2011, the are had the highest overall increase in rents, according to the report. On an annual comparison, two-bedrooms have come to the market this month in Cobble Hill at higher prices than last January’s two-bedrooms, a price difference of 7%. Two-bedrooms have gone from $3,169 a month this time last year and $3,375 a month now.

Barrocas attributes the area’s strength to its “old-world charm” and timeless brownstones. “It’s virtually impossible to duplicate and area like that,” he says. “As Brooklyn has grown in strength and popularity, I think the more established neighborhoods like Cobble Hill have only benefited from it. As some of the outer-areas of Cobble Hill grew, it only, in return, made Cobble Hill even more desirable.”

And as upward pressure on rents continues in Downtown Brooklyn, brokers are dubbing Bushwick as the next ‘it’ neighborhood, but pricing is down by 7.1% in this neighborhood and little inventory exists in the market, the report says.

Being that Bushwick is further out and not as established as Williamsburg, rents range from $1,300 a month for studios, $1,661 a month for one-bedrooms to $1,709 a month for a two-bedroom. As Williamsburg and DUMBO rents continue to match up with Manhattan pricing, Barrocas explains that more development and movement will occur in the center of the borough.

“There three-bedrooms in Bushwick that are 750 and 800 square feet and we are getting top dollar per foot because we understand the market,” he says. “We understand people will pay, especially if they share, a certain amount of money for a room. Those are things that we are seeing and learning from what happened in Williamsburg. It is a tremendous advantage we have.”

Areas such as Crown Heights and Bed-Stuy remain affordable options close to the city, while communities like Bensonhurst and Bay Ridge in Southern Brooklyn have historically been less expensive due to proximity to Manhattan, Barrocas says.

More opportunities also exist in Fort Greene. With 3,000 units of new inventory, Barrocas says luxury apartment can inch up, even though pricing went down by $26 from December 2011 to January.

“You see a slight dip in the market in the beginning of the year, so that’s really all seasonal,” he says. “It is still strong, and it will continue to gain strength especially as the retailers come in and the arena gets completed.”