You are reading

Report for September 2023 shows slight decrease in average rental price in Queens

Oct. 18, 2023 By Ethan Marshall

According to MNS Real Estate’s September 2023 rental market report for Queens, there was a 0.23% decrease in the average rent compared to the previous month, from $2,811.34 to $2,804.94. However, the average rental price is still 4.41% more than in September 2o22.

The report shows that, compared to August, the average rental price for a studio unit went down 0.78%, from $2,239.70 to $2,222.19. However, the average rental price for a one-bedroom unit increased 0.40%, from $2,736.71 to $2,747.66. Two-bedroom units also experienced an increase, from $3,415.06 to $3,444.97, for a 0.88% rise.

Of the 11 areas in Queens tracked in the report, all but 4 experienced a month-over-month increase in average rental prices. The only exceptions were Astoria, Flushing, Forest Hills and Sunnyside. Year-over-year, the rental prices have gone up for studio, one-bedroom and two-bedroom units by 3.15%, 7.43% and 2.90%, respectively.

The largest month-over-month increase in price was seen with studio units in Rego Park, which went up 11.4%, from $2,138 to $2,382. Studio units in Astoria experienced the most significant month-over-month decrease, which was 12.3%, from $2,383 to $2,090.

Long Island City had the most expensive units across the board for the month of September. The average prices there were $3,383 for studio units, $4,259 for one-bedroom units and $5,809 for two-bedroom units. Flushing had the least expensive studio units, at $1,742. One-bedroom and two-bedroom units were cheapest in Elmhurst, at $2,183 and $2,638 respectively.

MNS Real Estate’s Queens Rental Market Report is based on a cross-section of data from available listings under $10,000. In order to obtain a true monthly rental average, ultraluxury properties are omitted from the data-collecting. The data is aggregated from the MNS proprietary database and sampled from a specific mid-month point in order to record current rental rates offered by landlords during that particular month. This 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).

Recent News

Arsenal of ghost guns and thousands of rounds seized during Rockaway Park raid: DA

A Rockaway Park man was criminally charged with a slew of crimes after an arsenal of more than 30 firearms, including ghost guns and assault weapons, was uncovered along with thousands of rounds of ammunition and other weapons-related paraphernalia were seized during a raid at his home on Beach 117th Street on Wednesday.

Ryszard Materna, 51, was arraigned Thursday before Queens Criminal Court Judge Germaine Auguste on a 281-count complaint after a long-term investigation into his purchase of polymer-based firearm components that can easily be assembled into operable weapons, known as ghost guns.

Armed robber hits 7-Eleven stores in three Queens neighborhoods in just over an hour Wednesday morning: NYPD

Police from two Queens NYPD precincts are looking for an armed robber who targeted 7-Eleven stores in three different neighborhoods in just over an hour during the early morning of Wednesday, Apr. 17.

Police from the 106th Precinct in Ozone Park reported that the first heist went down just before 2:25 a.m. at the 7-Eleven located at 112-11 Liberty Ave. in South Richmond Hill. The perpetrator allegedly pulled out a handgun and demanded money from the 23-year-old man behind the counter, who complied, handing over $400 in cash from the register, police said.

Jamaica Estates man beaten, robbed by bat-wielding thugs near Cunningham Park: NYPD

A 22-year-old Jamaica Estates man was beaten and robbed in broad daylight three blocks west of Cunningham Park on Saturday, and police from the 107th Precinct in Fresh Meadows are looking for the suspects who attacked him with a baseball bat.

The incident occurred just after 7 p.m., as the victim was walking home in the vicinity of 189th Street and Aberdeen Avenue when he was set upon by the two assailants who struck him in the face and head with the baseball bat, police said. They forcibly removed his cell phone and fled in a black Pontiac Grand Am, heading northbound on 109th Street toward Union Turnpike.