REAL ESTATE Skyrocketing number of upper middle class Queens residents are renting BY ANGELA MATUA amatua@qns.com/@ AngelaMatua People making a heft y salary have been fl ocking to Queens, a new report has found. Real estate listing company Rent Café recently released a report outlining the number of affl uent renters and homeowners in each borough. Th e report found that Queens saw the second highest infl ux of rich renters from 2005 through 2015, aft er Brooklyn. For the purpose of the report, affl uent renters and homeowners Photo via Shutterstock Sales in Queens HOMES COOPS CONDOS Listings and photos courtesy MLSLI NORTHEAST NORTHWEST SOUTHEAST SOUTHWEST WHITESTONE ASTORIA JAMAICA WOODHAVEN PICTURED LISTING Under $500,000 224-03 64th Ave., Bayside $239,500 Co-op 2 bedrooms, 1 bathroom Wilmen Joa Winzone Realty Inc. $500,000-900,000 150-50 58th Ave., Flushing $850,000 1-family townhouse 3 bedrooms, 3 bathrooms Julia Kit Yeung Excellent Realty LLC Over $900,000 169-05 21st Ave., Whitestone $1,780,000 1-family mansion 4 bedrooms, 3 ½ bathrooms Hui Fang Chen AAA Young Shuen Realty Under $500,000 41-16 47th Ave., Sunnyside $375,000 Co-op 1 bedroom, 1 bathroom Deborah Rosenbloom NorCor Management Corp. $500,000-900,000 25-13 27th Ave., Astoria $767,880 Condo 1 bedroom, 1 bathroom Marc Pescatore Metro Realty Associates Over $900,000 32-46 105th St., East Elmhurst $949,000 2-family home 6 bedrooms, 3 bathrooms Debra Harari Contact Realty II Corp. Under $500,000 145-05 Lakewood Ave., Jamaica $449,000 1-family home 3 bedrooms, 2 bathrooms Avraham Avramcheyiv Best House Realty $500,000-900,000 80-58 231st St., Queens Village $685,000 1-family cape 4 bedrooms, 3 bathrooms Chana Hochman Exit Realty First Choice Over $900,000 80-14 232nd St., Bellerose $949,900 1-family home 3 bedrooms, 3 bathrooms Hector Vega Castro RE/MAX Legacy Under $500,000 87-10 149th Ave., Howard Beach $219,999 Co-op 1 bedroom, 1 bathroom Carolyn DeFalco Keller Williams Realty Liberty $500,000-900,000 78-12 88th Ave., Woodhaven $799,000 2-family home 4 bedrooms, 2 full baths, 1 half-bath Jane Nguyen Dynamic Properties Realty Over $900,000 67-57 75th St., Middle Village $1,130,000 3-family home 8 bedrooms, 3 bathrooms Diana Yip Douglas Elliman Real Estate consist of households making $150,000 per year or more. Th e number of affl uent renters in Queens jumped from 8,500 in 2005 to 29,500 in 2015, a 247 percent increase. Th e number of affl uent homeowners in Queens is more than double the amount of renters, but that number increased by 111 percent in the last decade from 30,090 to 63,623. Still, the share of Queens renter households making $50,000 or less sits at 51.7 percent while the share of renter households making $50,000 to $75,000 is 18.8 percent, the report found. About 11.9 percent of renter households make $75,000 to $100,000 and 10.9 percent of renter households make $100,000 to $150,000. Only 6.7 percent of renter households in Queens make $150,000 or more, which is 3.2 percent less than the New York City average. NYC has the most high-income renters in the country, 211,482 households, which is more than all the affl uent renters in San Francisco, Los Angeles, Chicago, Houston, San Jose and San Diego combined. A recent report by StreetEasy predicted that in 2017, more New York City residents will look to purchase homes rather than rent because of the increasingly high cost of rent. But the infl ux of renters in almost all boroughs, excluding Staten Island, may signal that people’s attitudes toward renting are changing. To view the full report, visit Rent Café’s website. The amount of affl uent renters and homeowners in Queens skyrocketed in 2015.
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