QUEENS RENTAL MARKET REPORT

Queens infographics

QUEENS RENTAL MARKET REPORT ARCHIVE

introduction

THE AVERAGE RENT IN QUEENS HAS DECREASED THIS MONTH.

  • 0.48%
    CHANGE
  • $2,151
    FEBRUARY 2021
  • $2,140
    MARCH 2021

A QUICK LOOK

queens

Through March, the average rental price in Queens decreased by 0.48%, from $2,150.52 to $2,140.15. The average rental price for a studio increased by 0.59%, from $1,721.03 to $1,731.15. The average rental price for a one-bedroom unit decreased by 1.28%, from $2,092.38 to $2,065.60. The average rental price for a two-bedroom unit decreased by 0.55%, from $2,638.15 to $2,623.71. Year-over-year, studio, one-bedroom, and two-bedroom rental prices are down 6.28%, 9.35%, and 10.28%, respectively. Overall, rental prices are down 8.93% from this time last year.

This past month, out of the eight neighborhoods tracked by this report, five saw their average rental prices decrease: Astoria (-0.33%), Rego Park (-1.81%), Forest Hills (-1.08%), Jackson Heights (-0.38%), and Jamaica (-2.50%).

This past month, the most expensive studio, one-bedroom, and two-bedroom rentals by average price were all in Long Island City. Conversely, the most affordable studio and one-bedroom units were seen in Jackson Heights, while the most affordable two-bedroom units were in Ridgewood.

NOTABLE TRENDS

queens
TYPE MOST EXPENSIVE LEAST EXPENSIVE
Studios Long Island City $2,276 Jackson Heights $1,546
One bedrooms Long Island City $2,836 Jackson Heights $1,823
Two bedrooms Long Island City $3,790 Ridgewood $2,164

WHERE PRICES DECREASED

price_down_icon

LONG ISLAND CITY

Studios -1.6%

One-Bedroom -0.5%

ASTORIA

Studios -2.0%

Two-Bedroom -0.5%

RIDGEWOOD

One-Bedroom -1.6%

Two-Bedroom -3.8%

FLUSHING

Two-Bedroom -1.0%

REGO PARK

Studios -1.1%

One-Bedroom -6.2%

FOREST HILLS

Studios -2.1%

Two-Bedroom -2.6%

JACKSON HEIGHTS

One-Bedroom -0.1%

Two-Bedroom -2.6%

JAMAICA

One-Bedroom -6.1%

Two-Bedroom -1.6%

WHERE PRICES INCREASED

price_up_icon

LONG ISLAND CITY

Two-Bedroom 3.9%

ASTORIA

One-Bedroom 1.4%

RIDGEWOOD

Studios 8.3%

FLUSHING

Studios 1.2%

One-Bedroom 1.8%

REGO PARK

Two-Bedroom 1.1%

FOREST HILLS

One-Bedroom 1.7%

JACKSON HEIGHTS

Studios 2.7%

JAMAICA

Studios 0.7%

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
12.55%
3.39%
8.74%
JACKSON HEIGHTS
JAMAICA
LONG ISLAND CITY
11.96%
7.96%
14.96%
REGO PARK
RIDGEWOOD
3.23%
4.87%

YEAR OVER YEAR Price change

QUEENS RENTS: MARCH 2020 VS. MARCH 2021

price changes
TYPE MARCH 2020 MARCH 2021 CHANGE
Studios $1,847 $1,731 6.3%
One bedrooms $2,279 $2,066 9.4%
Two bedrooms $2,924 $2,624 10.3%
QUEENS

RENTAL PRICING IN ASTORIA REMAINED RELATIVELY STABLE, FALLING BY JUST 0.33% THROUGH MARCH.

ASTORIA

THROUGH MARCH, THE AVERAGE RENTAL PRICE IN FLUSHING INCREASED BY 0.45%.

FLUSHING

OVER THIS PAST MONTH, THE AVERAGE RENTAL PRICE IN FOREST HILLS FELL BY 1.08%.

FOREST HILLS

THROUGH MARCH, THE AVERAGE RENTAL PRICE IN JACKSON HEIGHTS FELL BY 0.38%.

JACKSON HEIGHTS

OVER THIS PAST MONTH, THE AVERAGE RENTAL PRICE IN JAMAICA DECREASED BY 2.50%.

JAMAICA

CARRYING OVER SOME MOMENTUM FROM LAST MONTH, THE AVERAGE RENTAL PRICE IN LONG ISLAND CITY INCREASED BY AN ADDITIONAL 1.06% THROUGH MARCH.

LONG ISLAND CITY

FOLLOWING A LARGE INCREASE LAST MONTH, THE AVERAGE RENTAL PRICE IN REGO PARK EXPERIENCED A CORRECTION OF 1.81% THROUGH MARCH.

REGO PARK

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN RIDGEWOOD INCREASED BY JUST 0.24%.

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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