QUEENS RENTAL MARKET REPORT

Queens infographics

QUEENS RENTAL MARKET REPORT ARCHIVE

introduction

THE AVERAGE RENT IN QUEENS HAS DECREASED THIS MONTH.

  • 0.5%
    CHANGE
  • $2,667
    NOVEMBER 2022
  • $2,654
    DECEMBER 2022

A QUICK LOOK

queens

Through December, the average rental price in Queens decreased by 0.5%, from $2,667.12 to $2,653.76. The average rental price for a studio decreased by 0.35%, from $2,110.24 to $2,102.84. The average rental price for a one-bedroom unit decreased by 0.01%, from $2,559.59 to $2,559.34. The average rental price for a two-bedroom unit decreased by 0.97%, from $3,331.54 to $3,299.11.

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

  • Long Island City: -2.2%
  • Astoria: -2.89%
  • Ridgewood: +4.31%
  • Flushing: +0.65%
  • Rego Park: -0.3%
  • Forest Hills: -1.98%
  • Jackson Heights: -1.01%
  • Jamaica: +0.87%

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 12.49%, 11.81%, and 12.88%, respectively, with an overall increase of 12.43% since this time last year.

NOTABLE TRENDS

queens
TYPE MOST EXPENSIVE LEAST EXPENSIVE
Studios Long Island City $3,186 Flushing $1,640
One bedrooms Long Island City $3,987 Jackson Heights $2,057
Two bedrooms Long Island City $5,562 Jackson Heights $2,735

WHERE PRICES DECREASED

price_down_icon

LONG ISLAND CITY

Studios -3.5%

Two-Bedroom -4.9%

ASTORIA

Studios -5.3%

One-Bedroom -0.7%

Two-Bedroom -3.1%

FLUSHING

Two-Bedroom -0.1%

REGO PARK

One-Bedroom -1.8%

Two-Bedroom -0.9%

FOREST HILLS

Studios -4.0%

One-Bedroom -2.4%

Two-Bedroom -0.3%

JACKSON HEIGHTS

Studios -4.9%

One-Bedroom -3.1%

JAMAICA

Two-Bedroom -0.7%

WHERE PRICES INCREASED

price_up_icon

LONG ISLAND CITY

One-Bedroom 2.9%

RIDGEWOOD

Studios 10.1%

One-Bedroom 0.7%

Two-Bedroom 3.4%

FLUSHING

Studios 0.2%

One-Bedroom 2.0%

REGO PARK

Studios 2.4%

JACKSON HEIGHTS

Two-Bedroom 3.3%

JAMAICA

Studios 4.2%

One-Bedroom 0.3%

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
17.16%
10.23%
15.62%
JACKSON HEIGHTS
JAMAICA
LONG ISLAND CITY
2.96%
14.04%
13.48%
REGO PARK
RIDGEWOOD
5.58%
19.09%

YEAR OVER YEAR Price change

QUEENS RENTS: DECEMBER 2021 VS. DECEMBER 2022

price changes
TYPE DECEMBER 2021 DECEMBER 2022 CHANGE
Studios $1,869 $2,103 12.49%
One bedrooms $2,289 $2,559 11.81%
Two bedrooms $2,923 $3,299 12.88%
QUEENS

THROUGH DECEMBER, THE AVERAGE RENTAL PRICE IN ASTORIA DECREASED BY 2.89%.

ASTORIA

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN FLUSHING SLIGHTLY INCREASED BY JUST 0.65%.

FLUSHING

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN FOREST HILLS DECREASED BY 1.98%.

FOREST HILLS

THROUGH DECEMBER, THE AVERAGE RENTAL PRICE IN JACKSON HEIGHTS DECREASED BY 1.01%.

JACKSON HEIGHTS

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN JAMAICA SLIGHTLY INCREASED BY JUST 0.87%.

JAMAICA

THE AVERAGE RENTAL PRICE IN LONG ISLAND CITY DECREASED BY 2.2% SINCE LAST MONTH.

LONG ISLAND CITY

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN REGO PARK SLIGHTLY DECREASED BY JUST 0.3%.

REGO PARK

THE AVERAGE RENTAL PRICE IN RIDGEWOOD INCREASED BY 4.31% 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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