You are reading

Astoria tops as only Queens neighborhood in NYC experiencing largest growth in rental inventory: report

A typical street lined with brick residential buildings in Astoria. Photo via Getty Images.

May 17, 2024 By Ethan Marshall

The Queens neighborhood of Astoria experienced the third-largest year-over-year increase in rental inventory in April 2024, according to a report by the real estate listing information site StreetEasy.

Rental inventory in Astoria rose 47.1% year-over-year, from 936 in April 2023 to 1,377 in April 2024. The only neighborhoods to experience a larger jump over this span were Mott Haven in the Bronx at 85.2% and Greenpoint in Brooklyn at 47.4%.

The median asking rent in Astoria also went up with the rental inventory. Over the same period of time, the median asking rent went up 5.5%, from $2,749 in 2023 to $2,900 in 2024.

The median asking rent in Queens as a whole experienced a more extreme change than in Astoria alone. Year-over-year, the borough had an 11.1% jump in median asking rent from $2,700 last year to $2,999 this year. This drastic increase suggests that inventory is still limited despite Astoria’s drastic growth. There is still a lot of competition for the few available rental units.

Astoria is the only Queens neighborhood to be among the top ten in rental inventory growth. The borough’s inventory as a whole experienced a 9.6% increase, from 3,692 last year to 4,046 this year.

StreetEasy cited new rental buildings with modern amenities as playing a large role in the rental inventory growth across Astoria and the rest of the borough. A main factor into Astoria standing out among other neighborhoods is its close proximity to Manhattan, in addition to all the new amenity-rich buildings.

If rental inventory continues to trend up in Queens, rent growth could eventually slow down. This is best reflected in Astoria, where rent growth is much smaller compared to the rest of the borough.

email the author: news@queenspost.com
No comments yet

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

Fall fun in western Queens: Your guide to the best seasonal events

Aug. 29, 2025 By Jessica Militello

With beach days and summer BBQs behind us, the start of September rings in the start of magnificent Fall foliage, Halloween and more fun activities that come with the start of Autumn, including a list of Fall events in the area. From apple picking to seasonal ciders and more, there is tons to explore in the community. From Mystic Markets to scary movie meet-ups and more, here is a list of Fall events you do not want to miss.

A hidden gem in Sunnyside: Bistro Punta Sal blends Peruvian and Italian flavors

Aug. 29, 2025 By Jessica Militello

On a quiet street in Sunnyside, Bistro Punta Sal has its French doors wide open, letting the late August breeze emanate throughout the space, which is ornate with flowers, paintings and an array of tables and chairs for intimate dinners with friends or a romantic date night. The cozy restaurant, located at 45-51 46th St., is a hidden gem in the neighborhood that is just waiting to be discovered, as the sights and aromas of the restaurant invite guests in. 

Off-duty paramedic spots South Richmond Hill two-alarm house fire that injures nine firefighters, two civilians on Friday morning: FDNY

Nine firefighters were injured, two of them seriously, and two civilians sustained minor injuries during a two-alarm house fire in South Richmond Hill on Friday morning, but it could have been worse if not for the actions of an off-duty veteran EMT.

Paramedic Craig Biscuiti was driving to work when he noticed a column of thick black smoke and heavy flames coming from the first floor of a two-story home at 95-36 111th St. just before 7:10 a.m.

Astoria doctor sentenced to more than two decades in prison for rape and sexual abuse: DA

An Astoria doctor was sentenced to 24 years in prison on Thursday in Queens Supreme Court for raping unconscious acquaintances and sexually abusing hospital patients.

Dr. Zhi Alan Cheng, 35, of Broadway, pleaded guilty on June 30 to four counts of rape in the first degree and three counts of sexual abuse in the first degree in satisfaction of the consolidated indictments against him. He additionally entered an Alford plea to one count of sexual abuse. The defendant — a former gastroenterologist at New York-Presbyterian Queens Hospital — recorded the abuse of his unconscious victims with his cell phone in both his Astoria apartment and at the hospital.