WWW.QNS.COM RIDGEWOOD TIMES JANUARY 7, 2021 21
REAL ESTATE
NYC ends the year with second-highest rental market in the nation
BY EMILY DAVENPORT
EDAVENPORT@QNS.COM
@QNS
Even though there were massive
drops in rental prices throughout
the course of 2020, New York
City remained one of the nation’s most
expensive markets.
Zumper recently released their
monthly rental report for December
2020. According to their findings,
throughout the final month of 2020
the national one-bedroom median
rent remained flat at $1,224 last
month, while the two-bedrooms
increased by 0.3 percent to $1,491.
Like in months past, New York City
remained the second most expensive
rental market in the country, following
San Francisco. The price of
a one-bedroom apartment in New
York City decreased to $2,450, a 2.4
percent drop month-over-month and
a 19.7 percent drop year-over-year.
The price of a two-bedroom apartment
also fell to $2,630, a 6.1 percent
decrease month-over-month and a
22.4 percent drop year-over-year.
Zumper noted that due to price
trends that occurred in 2020, previously
hyper-expensive markets
such as New York City be overtaken
by lightning fast-growing cities like
Newark, New Jersey, which had an
8.1 percent spike in rental prices for
one-bedroom apartments, though
there are reasons why it could not
happen as well. The growth of places
like Newark is likely attributed to
renters flocking to these places from
nearby, hyper-expensive markets,
like New York City, Zumper says.
The report also posed the question
of how much would rental prices in
New York City have to drop to attract
more renters from Newark, or what
would happen in New York City and
Newark had the same prices. Zumper
will be looking out for answers to
such questions as they begin to track
the market in 2021.
Read the full report at zumper.
com.
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Cypress Avenue
Listings selected at random. Courtesy MLS
Under $600,000
71-05 Fresh Pond Road, Unit A3D
$529,000
Condo
1 bedroom, 1 bathroom
Kaszuba Jaroslaw, Exit All Seasons
Realty
$600,000-$1,000,000
63-23 60th Place
$999,000
Two-Story
8 bedrooms, 3 bathrooms
Agata Landa, Capri Jet Realty
Corp
Over $1,000,000
1105 Cypress Ave.
$1,748,000
Multi-Family
6 bedrooms, 3 full and 2 half
bathrooms
Gobinda Lama, Prime America
Real Estate Inc
79th Place 64th Street 78th Street
Under $600,000
80-80 Cypress Avenue
$530,000
Bungalow
3 bedrooms, 1 bathroom
Rosa Collado, Keller Williams
Landmark II
$600,000-$1,000,000
76-99 79th Place
$788,888
Colonial
3 bedrooms, 2 bathrooms
Anthony Rosario, Keller Williams
Rty Gold Coast
Over $1,000,000
73-20 70th St.
$1,279,000
Multi-Family
8 bedrooms, 4 bathrooms
Jon Mohan, Kaye Realty &
Development Inc
Under $600,000
52-60 65th Place, Unit 6A
$290,000
Co-op
1 bedroom, 1 bathroom
Beata Fil, Exit All Seasons Realty
$600,000-$1,000,000
53-39 64 St.
$849,000
Colonial
3 bedrooms, 2 bathrooms
Millie Hong, East Coast REALTORS
Inc
Over $1,000,000
59-45 70th St.
$1,490,000
Colonial
9 bedrooms, 3 bathrooms
Cindy Wang, E Realty
International Corp
Under $600,000
61-12 69th St., Unit 1B
$415,000
Condo
1 bedroom, 1 bathroom
John Spariosu, Sparrow REALTORS
LLC
$600,000-$1,000,000
64-01 78th St.
$838,000
Semi-Detached
3 bedrooms, 2 bathrooms
Louis Pastorini, Coldwell Banker
Phillips
Over $1,000,000
67-17 73rd Place
$1,249,990
Townhouse
7 bedrooms, 3 bathrooms
Joseph Fabrizio, Douglas Elliman
Real Estate
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