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: [email protected]
No comments yet

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

BP launches new advisory panel for youth to become civically engaged in the future of Queens

In an effort to get more young people involved in civics, Queens Borough President Donovan Richards has created a new advisory panel known as the Youth and Young Adult Council to introduce the “youngest and fiercest” community advocates to both community service and organization.

Members of the advisory body will advocate concerns through means of community engagement by participating in one of two cohorts. The first will be made up of high school representatives between the ages of 13 and 17, while the second cohort will be comprised of young adults between the ages of 18 and 25.

These Queens eateries are participating in the upcoming NYC Restaurant Week

NYC Restaurant Week is underway, so nix that skillet and bring family and friends to your favorite neighborhood spot, or get inspired and break bread somewhere new and different. During this special citywide culinary event, food-lovers will enjoy curated menus and prix-fixe prices that are easy on the wallet.

Bookings began on Jan. 17 and are available until Feb. 12, and you can reserve a table at 30 participating Queens restaurants, along with hundreds more across the five boroughs.

Lunar New Year ‘special celebration’ held at Queensborough Community College in Bayside

Queens District Attorney Melinda Katz joined Councilwomen Sandra Ung and Linda Lee on Wednesday, Jan. 18, for a special celebration in honor of the Lunar New Year at the Student Union Building at Queensborough Community College in Bayside.

Ung escaped the Cambodian genocide as a child, and her family emigrated to the United States when she was 7 years old. Now she represents Flushing with its enormous Asian American population. She said she is proud to see how many Lunar New Year celebrations she sees around the city compared to when she first arrived in Queens.