THE QUEENS
AUGUST 2019
File photo/QNS
HIGHER & HIGHER
Rents still rising across Queens, taxing everyone’s income
BY EMILY DAVENPORT
to need a bigger pay raise.
with a 31 percent increase. According to
edavenport@qns.com
StreetEasy recently released a report
the report’s fi ndings, in 2014 single-dwelling
@QNS
that explored the salary raises that single
Ridgewood owners could comfortably
dwelling New Yorkers have needed
make $60,000 per year to aff ord rent, in
It’s no secret that rents had been raising
since 2014 in order to keep up with rising
2019 the income made an $18,400 jump
throughout New York City over the years.
rents. Out of the top 10 New York City,
to $78,400.
While the current median income in NYC
two Queens neighborhoods saw the largest
With neighborhoods such as Bedford-
is sitting at $57,782, a new report found that
fi ve-year increase.
Stuyvesant, Bushwick and Midwood rounding
rents in some neighborhoods — including
While East Flatbush secured the number
out the middle of the list, Flushing
two in Queens — have drastically increased
one spot with a 33 percent increase since
snuck into the number nine spot on the list.
over the past fi ve years, causing more residents
2014, Ridgewood came in close behind
In 2014, Flushing renters could make an
average of $57,400 in order to aff ord rent
comfortably. Five years later, the income
margin shot up to $69,480, marking a 21
percent increase over fi ve years.
In the report, StreetEasy released an
interactive map of the city that shows the
increases in each Queens neighborhood
over the past fi ve years.
To see the map and read the full report,
visit https://streeteasy.com/blog/salaryraise
needed-to-aff ord-nyc-apartment/.
Homes in Ridgewood
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