FOR BREAKING NEWS VISIT WWW.QNS.COM JANUARY 28, 2021 • THE QUEENS COURIER 11
Queens rental market’s most severe drop in
prices came in second half of 2020: Report
BY JACOB KAYE
jkaye@schnepsmedia.com
@QNS
Th ough 2020 was a tough year
for the real estate market in
Queens, the borough’s market
fared better than its Brooklyn
and Manhattan neighbors,
according to a new report.
While rental prices dropped
around 5 percent across the
borough when compared to
2019, certain parts of Queens
saw larger drops than others,
according to the year-end
report from real estate company
MNS.
As was true for luxury markets
around the city, Long
Island City was home to some
of greatest price changes when
compared with the year prior.
One bedroom apartment prices
fell by 5.29 percent, from
$3,225 in 2019 to $3,083 this
past year in the neighborhood,
the report said. Studios in Long
Island City fell by 4.21 percent
and two-bedrooms dropped
by 4.07 percent, according to
the report.
However when focusing only
on the second half of the year,
when COVID-19 was ragging
in New York City, the numbers
become a lot more dire.
In Long Island City, the average
rental price for a studio fell
by over 10 percent, when comparing
the second half of 2020
to the second half of 2019. Both
one-bedroom units and twobedroom
units in the neighborhood
fell by over 13 percent,
according to the report.
Of the neighborhoods studied
in the report, MNS found
that the neighborhood with the
least expensive average rental
price in 2020 was Jackson
Heights, at $2,019. Not far
behind was Ridgewood, at
$2,052, the report said.
However, when focusing
only on the second of 2020, the
average rental price in Jackson
Heights was $1,943, according
to MNS.
In Ridgewood, the average
price in the second half of the
year was $1,986. File photo by REUTERS/Jeenah Moon
YOUR PARTNER IN THE
STRUGGLE FOR JUSTICE
BEST ATTORNEY AND
BEST PERSONAL INJURY LAWYER
SERVING THE COMMUNITY 25 YEARS
JOHN J. CIAFONE ESQ.
ATTORNEY
THANK YOU!
25-59 Steinway Street, Astoria, NY 11103
718-278-3900
johnjciafone@yahoo.com
NYS
Certified
EMT/EMS
BEST ATTORNEY
WINNER 4 YEARS IN A ROW!
BEST PERSONAL INJURY LAWYER
WINNER 3 YEARS IN A ROW!
Admitted in NY, NJ and Washington DC
Martin A.
Funeral Home L.L.C.
– Call for a FREE Planning Guide –
• Our Services are available in all areas
• Large Parking Facilities at all Locations
• Personal Service, 24 Hours a Day
• Burial and Cremation Services Available
• Family Owned and Operated
• FDIC Insured Pre-Plan Accounts
• Pre-Arrangements Available
• Out of Town Service, Call Us First
• Shipping Specialists
PLEASE
VOTE FOR US
2020
We Sp e a k
Spanish
John A. Golden: Member of K. of C. and C*KHS;
(Owner, Operators)
149-20 Northern Boulevard • Flushing • 718-359-6300
10-25 150th Street • Whitestone • 718-359-1122
36-46 Bell Boulevard • Bayside • 718-428-2210
Please Visit Our Website @ www.gleasonsfuneral.com
/WWW.QNS.COM
link
/www.gleasonsfuneral.com
link
/www.gleasonsfuneral.com
link
link
