You are reading

Western Queens Rental Prices Plummet, Major Drop Over The Past Year

The Gantries in Long Island City (Unsplash)

Jan. 22, 2021 By Allie Griffin

The rental market in Queens has taken a hit over the past year — and western Queens saw a heavy decline.

The average rent paid in December to nab a Queens apartment was down 6.23 percent, from December 2019, according to a recent report released by the real estate firm M.N.S.

The prices plummeted most in Long Island City and Astoria, the report revealed.

The average rent paid in December to snag a Long Island City apartment was down 14.42 percent compared to December 2019. In Astoria, that figure was down 12.36 percent compared to December 2019.

Other neighborhoods in the borough saw rental price declines but they were less severe.

In Long Island City apartments of all sizes were down — with the larger units hit hardest.

The average rent for a two bedroom apartment in Long Island City in December was $3,660. This figure was down 16.7 percent — from $4,397 — one year prior.

One-bedroom apartments in the neighborhood saw a 14 percent decline — with the December average being $2,882, down from $3,294 in December 2019.

LIC studios fell 11 percent to $2,364 compared to a year ago. A studio on average went for $2,646 in December 2019.

Yet even with the steep declines, Long Island City remained on average the most costly neighborhood in the borough in December, according to the report.

Long Island City rental price trends (MNS)

Astoria’s rental market experienced a decline much like Long Island City’s.

The average price to nab a two-bedroom apartment in Astoria in December was $2,314, down 12 percent from December 2019. One-bedrooms rented for $1,980, down 13 percent from $2,248 a year earlier. Meanwhile studios went for $1,691, down 13 percent from the December 2019 figure of $1,944.

Astoria rental price trends (MNS)

The decline in rents were felt borough wide — no matter the size of the unit.

The rent for studios, one-bedrooms and two-bedrooms all fell by about 6 percent over the past 12 months.

Queens average rent price changes (MNS)

email the author: news@queenspost.com

Featured Events

Post an Event

View All Events…

One Comment

Click for Comments 

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.


The reCAPTCHA verification period has expired. Please reload the page.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News
Police seek woman who attacked 12-year-old boy and stole phone on Jamaica Avenue: NYPD

Police from the 102nd Precinct in Richmond Hill are still looking for a grown woman who allegedly slapped a young boy repeatedly on Jamaica Avenue before stealing his cell phone on Sunday, Dec. 8.

The stranger approached the 12-year-old victim near 126th Street on Jamaica Avenue at around 4:20 p.m. and began to argue with the youngster. The dispute escalated into violence when the assailant began slapping the child multiple times in his head and snatched his cell phone, police said. She was last seen running off, traveling westbound on Jamaica Avenue toward Bessemer Street.

Read More
0
Homeless men charged in deadly 7 train subway brawl in Woodside: DA

Three homeless men were arraigned in Queens Criminal Court on Tuesday and variously charged with felony robbery, attempted gang assault, and assault for allegedly stealing the belongings of a 69-year-old homeless man who was asleep on a Manhattan-bound 7 train in Woodside early Sunday morning.

The victim woke up and tried to regain his property. During the ensuing brawl, the victim fatally stabbed a 37-year-old assailant and slashed a second man. The victim has not been charged in the fatal stabbing. The investigation by the NYPD’s Queens Homicide Squad and members of the 108th Precinct in Long Island City remains ongoing.

Read More
0
Hunt for suspect after 20-minute groping spree targets four in Southeast Queens: NYPD

Police from the 113th Precinct in Jamaica are looking for a serial groper who targeted three teenage girls and a mother walking with her young son in Southeast Queens on the morning of Monday, Dec. 16.

The suspect struck within a brief 20-minute span, beginning with his first victim, a 16-year-old girl walking near 115th Avenue and 170th Street, just a block south of Archie Spigner Park. At approximately 8:20 a.m., the assailant approached her from behind, grabbed her rear end, and fled the scene, police said.

Read More
0
Load More Articles