QUEENS YEAR END REPORT

Queens year end infographics

QUEENS YEAR END REPORT ARCHIVE

TABLE OF CONTENTS

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  1. Intro
  2. Notable Trends
  3. Mean Rental Prices
  4. Queens Price Trends
  5. The Report Explained

introduction

WE ARE PROUD TO PRESENT MNS’ SEVENTH ANNUAL YEAR END REPORT

Queens

MNS is proud to present our seventh annual Year End Report for Queens, the summation of a year’s worth of data collected from our monthly Queens Rental Market Reports. We hope you fi nd this report useful in determining the rental trends present in Queens’ major neighborhoods, as well as the overall climate of the Queens rental market.

Compared to last year, the average rental prices in Queens for 2022 increased by 14.51%, from $2,248 in 2021 to $2,574 this past year. Studio rental prices are up by 12.16% year-over-year, from $1,817 to $2,038. The average rental price for one-bedroom units are up by 13.96%, from $2,167 in 2021 to $2,470 in 2022. The average rental price for two-bedroom units increased by 16.48%, from $2,761 to $3,215.

Areas where there is traditionally a higher supply of new construction residential development saw their average rents increase the most year over year, led by Long Island City (+25.49%), Astoria (+22.25%), and Jamaica (+18.59%), where large buildings like 5 Pointz, Astoria West, The Crossing at Jamaica Station, and Alvista Rise hit the market putting upward pressure on the average rents.

MEAN RENTAL PRICES

2022 MEAN QUEENS RENTAL PRICES

  • $2,038

    Studios

  • $2,470

    One bedrooms

  • $3,215

    Two bedrooms

queens mean studio
queens mean 1 bedroom
queens mean 2 bedrooms

QUEENS PRICE TRENDS

price changes

Average prices over the year

ASTORIA
FLUSHING
FOREST HILLS
$2,554
$2,171
$2,316
JACKSON HEIGHTS
JAMAICA
LONG ISLAND CITY
$2,106
$2,636
$4,158
REGO PARK
RIDGEWOOD
$2,266
$2,387

THE REPORT EXPLAINED

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

The Queens Rental Market Report is based on data cross-sectioned from over 10,000 currently available listings priced under $10,000, with ultra-luxury property omitted to obtain a true monthly rental average. Our data is aggregated from the MNS proprietary database and sampled from a specific 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 at 718-222-0211

Note All market data is collected and compiled by MNS’ 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_YEAR_END_MARKET_REPORT_2022

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