QUEENS RENTAL MARKET REPORT

Queens infographics

QUEENS RENTAL MARKET REPORT ARCHIVE

introduction

THE AVERAGE RENT IN QUEENS HAS INCREASED THIS MONTH.

  • 1.36%
    CHANGE
  • $2,687
    SEPTEMBER 2022
  • $2,723
    OCTOBER 2022

A QUICK LOOK

queens

Through October, the average rental price in Queens increased by 1.36%, from $2,686.55 to $2,723.05. The average rental price for a studio decreased by 0.66%, from $2,154.23 to $2,140.05. The average rental price for a one-bedroom unit increased by 1.19%, from $2,557.62 to $2,588.06. The average rental price for a two-bedroom unit increased by 2.79%, from $3,347.81 to $3,441.05.

Out of the eight neighborhoods tracked by this report, six saw their average rental prices increase month-over-month. The remaining areas decreased this month.

  • Long Island City: +1.26%
  • Astoria: -1.11%
  • Ridgewood: +0.99%
  • Flushing: +1.84%
  • Rego Park: +3.62%
  • Forest Hills: +4.69%
  • Jackson Heights: -1.59%
  • Jamaica: +1.5%

The most expensive studio, one-bedroom and two-bedroom units by average price were all in Long Island City, while the most affordable studio units were in Flushing, and most affordable one and two-bedroom units were in Jackson Heights.

Year-over-year, studio, one-bedroom, and two-bedroom rental prices are up 14.33%, 14.9%, and 18.61%, respectively, with an overall increase of 16.28% since this time last year.

NOTABLE TRENDS

queens
TYPE MOST EXPENSIVE LEAST EXPENSIVE
Studios Long Island City $3,311 Flushing $1,694
One bedrooms Long Island City $3,938 Jackson Heights $2,107
Two bedrooms Long Island City $5,873 Jackson Heights $2,560

WHERE PRICES DECREASED

price_down_icon

LONG ISLAND CITY

One-Bedroom -1.2%

ASTORIA

Studios -3.8%

Two-Bedroom -0.4%

RIDGEWOOD

Studios -3.6%

One-Bedroom -1.8%

FLUSHING

Studios -0.7%

FOREST HILLS

Studios -0.3%

JACKSON HEIGHTS

Studios -1.4%

One-Bedroom -0.7%

Two-Bedroom -2.5%

JAMAICA

Studios -1.5%

WHERE PRICES INCREASED

price_up_icon

LONG ISLAND CITY

Studios 1.1%

Two-Bedroom 3.1%

ASTORIA

One-Bedroom 0.3%

RIDGEWOOD

Two-Bedroom 7.1%

FLUSHING

One-Bedroom 3.1%

Two-Bedroom 2.5%

REGO PARK

Studios 5.3%

One-Bedroom 5.4%

Two-Bedroom 1.4%

FOREST HILLS

One-Bedroom 7.4%

Two-Bedroom 6.0%

JAMAICA

One-Bedroom 0.0%

Two-Bedroom 4.7%

QUEENS AVERAGE PRICE

QUEENS AVERAGE PRICE

QUEENS AVERAGE PRICE

A QUICK LOOK

year over year PRICE CHANGE BY NEIGHBORHOOD

year over year
ASTORIA
FLUSHING
FOREST HILLS
25.57%
7.91%
17.74%
JACKSON HEIGHTS
JAMAICA
LONG ISLAND CITY
3.48%
17.02%
22.86%
REGO PARK
RIDGEWOOD
6.78%
24.17%

YEAR OVER YEAR Price change

QUEENS RENTS: OCTOBER 2021 VS. OCTOBER 2022

price changes
TYPE OCTOBER 2021 OCTOBER 2022 CHANGE
Studios $1,872 $2,140 14.33%
One bedrooms $2,253 $2,588 14.90%
Two bedrooms $2,901 $3,441 18.61%
QUEENS

THROUGH OCTOBER, THE AVERAGE RENTAL PRICE IN ASTORIA DECREASED BY 1.11%.

ASTORIA

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN FLUSHING INCREASED BY 1.84%.

FLUSHING

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN FOREST HILLS INCREASED BY 4.69%.

FOREST HILLS

THROUGH OCTOBER, THE AVERAGE RENTAL PRICE IN JACKSON HEIGHTS DECREASED BY 1.59%.

JACKSON HEIGHTS

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN JAMAICA INCREASED BY 1.5%.

JAMAICA

THE AVERAGE RENTAL PRICE IN LONG ISLAND CITY INCREASED BY 1.26% SINCE LAST MONTH.

LONG ISLAND CITY

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN REGO PARK INCREASED BY 3.62%.

REGO PARK

THE AVERAGE RENTAL PRICE IN RIDGEWOOD SLIGHTLY INCREASED BY JUST 0.99% SINCE LAST MONTH.

RIDGEWOOD

THE REPORT EXPLAINED

THE QUEENS RENTAL MARKET REPORT COMPARES FLUCTUATION IN THE CITY’S RENTAL DATA ON A MONTHLY BASIS. IT IS AN ESSENTIAL TOOL FOR POTENTIAL RENTERS SEEKING TRANSPARENCY IN THE QUEENS APARTMENT MARKET AND A BENCHMARK FOR LANDLORDS TO EFFCIENTLY AND FAIRLY ADJUST INDIVIDUAL PROPERTY RENTS IN QUEENS.

The Queens Rental Market Repor TM is based on a cross-section of data from available listings and priced under $10,000, with ultraluxury property omitted to obtain a true monthly rental average. Our data is aggregated from the MNS proprietary database and sampled from a specifc mid-month point to record current rental rates offered by landlords during that particular month. It is then combined with information from the REBNY Real Estate Listings Source (RLS), OnLine Residential (OLR.com) and R.O.L.E.X. (Real Plus).

Author: MNS has been helping Queens landlords and renters navigate the rental market since 1999. From large companies to individuals, MNS tailors services to meet your needs. Contact us today to see how we can help.

Contact Us Now: 718-222-0211
Note: All market data is collected and compiled by MNS’s marketing department. The information presented here is intended for instructive purposes only and has been gathered from sources deemed reliable, though it may be subject to errors, omissions, changes or withdrawal without notice. If you would like to republish this report on the web, please be sure to source it as the “Queens Rental Market Report” with a link back to its original location.

HTTP://WWW.MNS.COM/QUEENS_ RENTAL_MARKET_REPORT

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