QUEENS RENTAL MARKET REPORT

Queens infographics

QUEENS RENTAL MARKET REPORT ARCHIVE

introduction

THE AVERAGE RENT IN QUEENS HAS INCREASED THIS MONTH.

  • 1.40%
    CHANGE
  • $2,472
    APRIL 2022
  • $2,507
    MAY 2022

A QUICK LOOK

queens

Through May, the average rental price in Queens increased by 1.40%, from $2,472.23 to $2,506.88. The average rental price for a studio increased by 2.87%, from $1,909.41 to $1,964.23. The average rental price for a one-bedroom unit increased by 1.39% from $2,376.04 to $2,409. The average rental price for a two-bedroom unit increased by 0.52%, from $3,131.23 to $3,147.40. Year-over-year, studio, one-bedroom, and two-bedroom rental prices are up 10.07%, 14.92%, and 16.34%, respectively. Overall, rental prices in Queens are up 14.19% from this time last year.

This past month, out of the eight neighborhoods tracked by this report, seven saw their average rental prices increase: Long Island City (+1.68%), Astoria (+1.24%), Ridgewood (+3.27%), Flushing (+1.42%), Forest Hills (+2.34%), Jackson Heights (+0.19%), and Jamaica (+2.56%).

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

NOTABLE TRENDS

queens
TYPE MOST EXPENSIVE LEAST EXPENSIVE
Studios Long Island City $3,167 Flushing $1,612
One bedrooms Long Island City $3,959 Jackson Heights $1,906
Two bedrooms Long Island City $5,304 Jackson Heights $2,575

WHERE PRICES DECREASED

price_down_icon

LONG ISLAND CITY

Two-Bedroom -1.0%

FLUSHING

Studios -0.3%

REGO PARK

Two-Bedroom -7.1%

FOREST HILLS

One-Bedroom -1.1%

JACKSON HEIGHTS

One-Bedroom -1.5%

Two-Bedroom -0.6%

JAMAICA

Two-Bedroom -0.1%

WHERE PRICES INCREASED

price_up_icon

LONG ISLAND CITY

Studios 6.62%

One-Bedroom 1.6%

ASTORIA

Studios 3.1%

One-Bedroom 0.3%

Two-Bedroom 0.8%

RIDGEWOOD

Studios 2.3%

One-Bedroom 1.8%

Two-Bedroom 5.2%

FLUSHING

One-Bedroom 0.5%

Two-Bedroom 3.2%

REGO PARK

Studios 2.2%

One-Bedroom 1.9%

FOREST HILLS

Studios 0.5%

Two-Bedroom 6.0%

JACKSON HEIGHTS

Studios 3.5%

JAMAICA

Studios 2.2%

One-Bedroom 6.6%

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
17.21%
0.74%
11.78%
JACKSON HEIGHTS
JAMAICA
LONG ISLAND CITY
9.29%
24.39%
29.30%
REGO PARK
RIDGEWOOD
1.19%
15.94%

YEAR OVER YEAR Price change

QUEENS RENTS: MAY 2021 VS. MAY 2022

price changes
TYPE MAY 2021 MAY 2022 CHANGE
Studios $1,784 $1,964 10.07%
One bedrooms $2,096 $2,409 14.92%
Two bedrooms $2,705 $3,147 16.34%
QUEENS

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN ASTORIA INCREASED BY 1.24%.

ASTORIA

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN FLUSHING INCREASED BY 1.42%.

FLUSHING

THROUGH MAY, THE AVERAGE RENTAL PRICE IN FOREST HILLS INCREASED BY 2.34%.

FOREST HILLS

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN JACKSON HEIGHTS INCREASED BY 0.19%.

JACKSON HEIGHTS

THROUGH MAY, THE AVERAGE RENTAL PRICE IN JAMAICA INCREASED BY 2.56%.

JAMAICA

THROUGH MAY, THE AVERAGE RENTAL PRICE IN LONG ISLAND CITY INCREASED BY 1.68%.

LONG ISLAND CITY

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN REGO PARK DECREASED BY 1.98%.

REGO PARK

THROUGH MAY, THE AVERAGE RENTAL PRICE IN RIDGEWOOD INCREASED BY 3.27%.

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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