You are reading

Rental Prices in Western Queens are Skyrocketing, Up 29 Percent in LIC Year-Over-Year

Gantry Plaza State Park in Long Island City, with the TF Cornerstone luxury rental buildings in the background (Queens Post)

June 7, 2022 By Christian Murray

The rental market in Queens is red hot— and western Queens is no exception.

The average rent paid in May to nab an apartment in Queens was up 14 percent from May 2021, according to a report released by the real estate firm M.N.S.

The average price paid for a studio in May across the borough was $1,964, up 10 percent from May 2021; $2,409 for a one-bedroom, up 15 percent from a year earlier; and $3,147 for a two-bedroom, representing a 16 percent jump year-over-year.

Rental prices spiked most in Long Island City, Astoria and Jamaica, the report revealed. The report did not provide a breakdown for Sunnyside or Woodside.

The average rent paid in May to snag a Long Island City apartment was up 29 percent compared to May 2021. In Jamaica it was up 24 percent, while in Astoria, that figure was up 17.2 percent.

In Long Island City apartments of all sizes were going for hefty prices.

Average prices: Data by M.N.S. Real Estate NYC

The average rent for a studio apartment in Long Island City in May was $3,167. This figure was up 31 percent — from $2,410 — one year prior.

One-bedroom apartments in the neighborhood saw a 34 increase — with the May average being $3,959, up from $2,953 in May 2021.

The average rent to get into a two-bedroom apartment in Long Island City was $5,304, up 25 percent compared to a year ago. The average two-bedroom went for $4,250 in May 2021.

The Astoria market has also come back from the days of the pandemic.

The average price paid for a studio apartment in Astoria in May 2022 was $1,963, up 12 percent from a year ago; a one-bedroom fetched on average $2,341, up 18 percent; while a two-bedroom went for $2,803, up 21 percent.

Other neighborhoods in the borough saw significant rental price increases, although not to the same levels. Average rental prices in Jackson Heights were up 9 percent, while in Forest Hills they rose 12 percent and in Ridgewood they were up 16 percent.

For more information, click here.

Data: M.N.S. Real Estate NYC

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

Local electeds rally at Flushing Library, urge Mayor Adams’ administration to reverse library budget cuts as city’s deadline approaches

Jun. 24, 2024 By Athena Dawson

Local elected officials and advocates held a rally at Flushing Library to call on Mayor Adams’ administration to fully restore $58.3 million in funding for the city’s library systems on Sunday, June 23. Supporters are pushing for a resolution before the deadline for the city’s budget at the end of the month.  

Woman found dead with ‘visible signs of trauma’ inside her Little Neck home: NYPD

NYPD detectives are working to determine how a woman was killed inside a Little Neck home on Saturday morning.

Police from the 111th Precinct in Bayside responded to a 911 call of an unconscious woman inside a home on 58th Avenue near 251st Street, two blocks south of the Long Island Expressway, where they found a 44-year-old victim lying face down on the floor with visible signs of trauma to her back, police said. EMS responded to the location and pronounced the woman dead at the scene. She was later identified as Kate Tierney.

Motorcyclist killed in hit-and-run on Clearview Expressway in Bayside; White Plains driver busted in Fresh Meadows: NYPD

A Westchester motorist was arrested following a fatal hit-and-run that killed a motorcyclist on the Clearview Expressway in Bayside Saturday night.

Alex Cruz, 23, of Dekalb Avenue in White Plains, was taken into custody in Fresh Meadows less than two miles away from the crash scene that closed the southbound Clearview Expressway south of Northern Boulevard for hours.