QUEENS RENTAL MARKET REPORT

Queens infographics

QUEENS RENTAL MARKET REPORT ARCHIVE

introduction

THE AVERAGE RENT IN QUEENS HAS INCREASED THIS MONTH.

  • 1.75%
    CHANGE
  • $2,195
    MAY 2021
  • $2,234
    JUNE 2021

A QUICK LOOK

queens

Through June, the average rental price in Queens increased by 1.75%, from $2,195.37 to $2,233.85. The average rental price for a studio increased by 2.53%, from $1,784.49 to $1,829.62. The average rental price for a one-bedroom unit increased by 3.13%, from $2,096.19 to $2,161.87. The average rental price for a two-bedroom unit increased by 0.17%, from $2,705.44 to $2,710.07. Year-over-year, studio, one-bedroom, and two-bedroom rental prices are down 5.08%, 1.13%, and 4.70%, respectively. Overall, rental prices are down 4.15% from this time last year.

This past month, out of the eight neighborhoods tracked by this report, five saw their average rental prices increase: Long Island City (+2.30%), Ridgewood (+6.11%), Forest Hills (+1.17%), Jackson Heights (+2.58%), and Jamaica (+6.30%).

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 Forest Hills, while the most affordable one and two-bedroom rentals were in Jackson Heights and Ridgewood, respectively.

NOTABLE TRENDS

queens
TYPE MOST EXPENSIVE LEAST EXPENSIVE
Studios Long Island City $2,543 Forest Hills $1,602
One bedrooms Long Island City $3,022 Jackson Heights $1,818
Two bedrooms Long Island City $4,270 Ridgewood $2,266

WHERE PRICES DECREASED

price_down_icon

ASTORIA

Two-Bedroom -0.7%

FLUSHING

Studios -2.5%

One-Bedroom -1.9%

Two-Bedroom -5.7%

REGO PARK

Studios -1.1%

Two-Bedroom -3.9%

JACKSON HEIGHTS

Two-Bedroom -0.7%

WHERE PRICES INCREASED

price_up_icon

LONG ISLAND CITY

Studios 5.5%

One-Bedroom 2.3%

Two-Bedroom 0.5%

ASTORIA

Studios 0.3%

One-Bedroom 0.1%

RIDGEWOOD

Studios 3.7%

One-Bedroom 9.9%

Two-Bedroom 4.7%

REGO PARK

One-Bedroom 4.4%

FOREST HILLS

Studios 0.9%

One-Bedroom 0.4%

Two-Bedroom 1.9%

JACKSON HEIGHTS

Studios 8.0%

One-Bedroom 2.3%

JAMAICA

Studios 4.6%

One-Bedroom 7.9%

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
8.40%
4.79%
9.22%
JACKSON HEIGHTS
JAMAICA
LONG ISLAND CITY
4.70%
2.10%
2.57%
REGO PARK
RIDGEWOOD
1.31%
5.20%

YEAR OVER YEAR Price change

QUEENS RENTS: JUNE 2020 VS. JUNE 2021

price changes
TYPE JUNE 2020 JUNE 2021 CHANGE
Studios $1,928 $1,830 5.1%
One bedrooms $2,187 $2,162 1.1%
Two bedrooms $2,844 $2,710 4.7%
QUEENS

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN ASTORIA HAS DECREASED BY 0.13%.

ASTORIA

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN FLUSHING DECREASED BY 3.62%.

FLUSHING

REBOUNDING FROM A SLIGHT DROP LAST MONTH, THE AVERAGE RENTAL PRICE IN FOREST HILLS INCREASED BY 1.17% THROUGH JUNE.

FOREST HILLS

THROUGH JUNE, THE AVERAGE RENTAL PRICE IN JACKSON HEIGHTS INCREASED BY 2.58%.

JACKSON HEIGHTS

OVER THIS PAST MONTH, THE AVERAGE RENTAL PRICE IN JAMAICA INCREASED BY 6.30%.

JAMAICA

THROUGH JUNE, THE AVERAGE RENTAL PRICE IN LONG ISLAND CITY INCREASED BY 2.30%.

LONG ISLAND CITY

OVER THE PAST MONTH, THE AVERAGE RENTAL PRICE IN REGO PARK DECREASED BY 0.57%.

REGO PARK

THANKS TO A SIGNIFICANT INCREASE IN THE PROPORTION OF LUXURY AVAILABILITIES IN THE AREA, THE AVERAGE RENTAL PRICE IN RIDGEWOOD INCREASED BY 6.11% THROUGH JUNE.

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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