30 AUGUST 3, 2017 RIDGEWOOD TIMES WWW.QNS.COM
Ridgewood Times Real Estate Guide
Listings selected at random. Courtesy MLSLI
RIDGEWOOD
Gates Avenue 64th Lane 60th Drive Caldwell Avenue
Under $500,000
21-22 Greene Ave., Ridgewood, NY 11385
$368,000
Condo
1 bedroom, 1 bathroom
Louis Pastorini
Coldwell Banker Phillips
$500,000 - $900,000
63-16 Forest Ave., Ridgewood,
NY 11385
$649,000
Condo
2 bedrooms, 2 bathrooms
Iwona Wojcik
Charles Rutenberg Realty Inc.
Over $900,000
19-21 Gates Ave., Ridgewood,
NY 11385
$1,750,000
3-family Colonial
8 bedrooms, 412bathrooms
Miguel Silva
Prime America Home Realty Corp
GLENDALE
Under $500,000
90-50 Union Tpke.,
Glendale, NY 11385
$389,000
Co-op
3 bedrooms, 112bathrooms
David Kueber
Coldwell Banker Kueber Realty
$500,000 - $900,000
74-12 64th Ln., Glendale, NY 11385
$618,000
1-family Colonial
3 bedrooms, 112bathrooms
Neal Modi
RE/MAX Frontier
Over $900,000
73-53 71st St., Glendale, NY 11385
$1,397,000
2-family
5 bedrooms, 212bathrooms
Sonia Juran Kulesza
Century 21 Amiable Rlty Grp II
MASPETH
Under $500,000
62-15 53 Ave., Maspeth, NY 11378
$229,000
Co-Op
1 bedroom, 1 bathroom
Anna Diaz
RE/MAX Team
$500,000 - $900,000
66-06 Perry Ave., Maspeth, NY 11378
$890,000
2-family Colonial
5 bedrooms, 212bathrooms
Maryanna Zero
Home Hunters Real Estate
Over $900,000
62-25 60th Dr., Maspeth, NY 11378
$1,159,000
2-family
6 bedrooms, 312bathrooms
Erika Demkowicz
Donna Demkowicz, Realtor
MIDDLE VILLAGE
Under $500,000
64-29 72nd St., Middle Village, NY 11379
$465,000
1-family Ranch
2 bedrooms, 1 bathroom
Joan Sammon
O Kane Realty
$500,000 - $900,000
71-27 Caldwell Ave.,
Middle Village, NY 11379
$549,000
Condo
2 bedrooms, 1 bathroom
Michal Marek
Keller Williams Landmark II
Over $900,000
66-71 74th St., Middle Village, NY 11379
$1,300,000
2-family
4 bedrooms, 4 bathrooms
Cindy Danielski
Crifasi Real Estate Inc
REAL ESTATE
Report: Harder for Queens residents to aff ord two-bedroom apts.
BY ANGELA MATUA
AMATUA@QNS.COM / @ANGELAMATUA
A new report by RentHop, a real
estate search engine, analyzed
median rents of two-bedroom
apartments in 139 New York City
neighborhoods and found that only
nine were considered aff ordable.
The report compared the median
rent of a two-bedroom apartment
and the median income data for every
neighborhood to determine what areas
are deemed aff ordable.
It is recommended that one should
not spend more than 30 percent of
his or her paycheck on rent. For the
purposes of this study, neighborhoods
were considered aff ordable if median
asking rents could be aff orded with 35
percent of a person’s median income.
RentHop added an additional fi ve percent
to account for income growth that
has taken place since the latest Census
was released. Data from the city’s American
Community Survey was also used.
Two Queens neighborhoods made
the top of the most aff ordable and least
aff ordable lists. Not surprisingly, the
Queensbridge-Ravenswood-Long
Island City area topped the least affordable
list.
Median rent for a two-bedroom
apartment is $3,300 but the median
household income is $28,378, which
means that a person must spend 139.5
percent of his or her income for rent.
“Spending 139.5 percent of your
income on rent is not just absurd,
it’s mathematically impossible,” the
report concluded.
Whitestone, where the household
median income is $80,546, is one of the
city’s most aff ordable neighborhoods.
The median rent for a two-bedroom
apartment is $1,950 so a potential
tenant would spend 29 percent of his
or her paycheck on rent.
Four other Queens neighborhoods
made the most aff ordable list including
Bayside, Fresh Meadows, Douglaston
and Middle Village. The median income
in these neighborhoods is higher
than the rest of the city — $55,752, making
the percentage of income required
for rent less than 35 percent.
Aft er Long Island City, Jamaica is the
next least aff ordable neighborhood
in Queens. The median household
income is $39,763 while the median
rent for a two-bedroom apartment is
$2,562. To rent an apartment in the
area, one would have to spend 77.3
percent of his or her check.
The Hunters Point-Sunnyside-West
Maspeth area followed by Flushing
and Rego Parkare also deemed unaffordable.
Of the 40 Queens neighborhoods
listed in the study, only fi ve are
considered aff ordable.
Overall, New York City has less affordable
apartments than other major
U.S. cities, including Miami, Los Angeles,
Chicago and Boston, which has the highest
percentage of aff ordable neighborhoods
of the fi ve included in the study.
The report concluded that developers
who are building many of the
apartment listings on RentHop are
catering to people who are willing to
pay more to live in the city.
“Looking at our hundreds of thousands
of apartment listings we certainly
notice a trend: most apartments
are being built and advertised to the
higher end of the market, leaving a
majority of people left wondering how
and where they’ll live,” said RentHop
Data Scientist Shane Leese, in the
report. “We encourage you to entertain
all options when fi nding a new
apartment, including having as many
income-earners in the household as
possible and looking at apartments
with more bedrooms to bring down
the average cost per bedroom.”
