You are reading

Rental Prices in Northwest Queens Are Down Nearly 6 Percent From a Year Ago: Report

Long Island City (Photo: Pierre Bouyer on Unsplash)

Sept. 15, 2020 By Christian Murray

The cost to rent an apartment in northwest Queens remains high–although a little bit less than a year ago, according to a new report.

The report, released by Douglas Elliman Real Estate, found that the median rent in northwest Queens fell by 5.5 percent in August 2020–to $2,796–compared to the same time a year ago. The August figures were based on 213 new lease signings across northwest Queens, which covers Astoria, Long Island City, Sunnyside and Woodside.

The median price to rent a one-bedroom apartment in northwest Queens fell 13 percent on a year-over-year basis, according to the report. The median rent paid based on the 96 new leases signed in August was $2,593, down from $2,979 a year ago.

The median rent paid for a two bedroom fell by 8.1 percent from $4,000 in August 2019 to $3,675 in August 2020. There were 61 new leases signed for 2-bedroom apartments in northwest Queens last month.

The median net rent across northwest Queens—after concessions such as one month of free rent is factored in—dropped by 8.5 percent from a year ago to $2,622. The report did not provide net rental figures on a unit size basis.

The report also noted that 59 percent of the new leases signed in northwest Queens in August came with concessions.

The number of listings surged 78 percent year-over-year, to 642 units, the second highest number since Douglas Elliman started tracking the northwest Queens market more than six years ago.

Click here for the report

email the author: [email protected]

2 Comments

Click for Comments 
One tired person

Unfortunately, the rents are still to high. We are in a bad situation in all communities due to the virus and political atmosphere. One good thing coming from this is the reset of rental prices – As a renter, I would like to see them come down further and perhaps, it will help to keep people in their apartments.

Reply

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.

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

Recent News

Popular places where you can watch the Super Bowl in Queens

Feb. 2, 2023 By Tammy Scileppi

Hey, football fans! Game time is fast approaching, and across the city and here in Queens, you can feel the excitement brewing as the two teams prepare to take the field on Super Bowl Sunday, Feb. 12. So, kick back and watch the big game, and don’t miss Rihanna’s exciting performance during halftime. 

Borough president hears from community members on budget needs throughout Queens

During a two-day public hearing on the mayor’s 2024 preliminary budget, Queens Borough President Donovan Richards Jr. listened to testimonies from 14 community board representatives, community stakeholders and members of the public on where the money should be spent in Queens. 

The public hearings were held both in-person and via Zoom on Monday, Jan. 30, and Tuesday, Jan. 31, at Queens Borough Hall. The testimonials will be used to develop the Queens Borough Board’s FY24 preliminary budget priorities in the coming weeks. 

‘He didn’t deserve to die’: Borough President Richards leads emotional candlelight vigil for Tyre Nichols

Queens Borough President Donovan Richards held a candlelight vigil for Tyre Nichols outside Queens Borough Hall Monday, Jan. 30 after Nichols’ death at the hands of police officers in Memphis, Tenn., made national headlines for the brutality in which the officers beat him.

Almost immediately after news broke about Nichols’ death, the Memphis police officers who beat him to death were fired and charged with murder. The police department released the body cam footage of the fatal beating on Jan. 27, but many people, including some at the vigil, have refused to watch it due to its extremely graphic nature.

Op-Ed: This Year’s State Budget Must Prioritize Climate, Jobs, and Justice for New York

Op-Ed, Jan. 30, By Assemblymember Jessica González-Rojas

In a time of rampant economic inequality and environmental injustice, it is easy to feel defeated.  Here in Queens and across New York State, however, communities are organizing for a better future. New Yorkers from different backgrounds and with different lived experiences are proving that we can build community, organize, and create a future that reflects our shared values.

LaGuardia Community College receives federal funding to expand vocational training for the unemployed

Jan. 27, 2023 By Bill Parry

LaGuardia Community College recently received more than $400,000 in federal funding to enhance and expand vocational training for underemployed New Yorkers in a city that is still working to recover from COVID-19 pandemic-induced job loss. The support was secured by U.S. Senators Charles Schumer and Kirsten Gillibrand, Congresswoman Nydia Velázquez and former Congresswoman Carolyn B. Maloney.