REAL ESTATE
Ridgewood and Forest Hills had high rental price jumps in July
BY EMILY DAVENPORT
edavenport@qns.com
@QNS
A recent report found that Queens rental
prices are continuing to climb, particularly
Sales in QueensHOMES COOPS CONDOS Listings and photos courtesy MLSLI
NORTHEAST NORTHWEST SOUTHEAST SOUTHWEST
FRESH MEADOWS WOODSIDE JAMAICA ESTATES OZONE PARK
Under $500,000
73-63 Bell Blvd., Bayside
$209,000
Co-op
1 bedroom, 1 bathroom
Steven Lam, East Coast REALTORS Inc
$500,000-$900,000
164-24 77th Ave., Fresh Meadows
$649,000
Colonial
2 bedrooms, 1 bathroom
Leon Fruchtzweig, Keller Williams Rlty
Landmark
Over $900,000
49-16 Annandale Ln., Little Neck
$3,179,000
Colonial
4 bedrooms, 6 bathrooms
RuoRuo Yang, 1 Home Realty
Under $500,000
90-09 Northern Blvd., Jackson Heights
$215,000
Co-op
1 bedroom, 1 bathroom
Doris Tsang, Winzone Realty Inc.
$500,000-$900,000
24-65 38th St., Astoria
$735,000
Co-op
2 bedrooms, 1 bathroom
Bianca Colasuonno, Compass Great NY
LLC
Over $900,000
43-09 68th St., Woodside
$1,430,000
Colonial
5 bedrooms, 4 bathrooms
Terence Park, Realty Connect USA LLC
Under $500,000
87-56 Francis Lewis Blvd., Queens Village
$175,000
Co-op
1 bedroom, 1 bathroom
Antonetta Solina, Keller Williams
Legendary
$500,000-$900,000
144-30 158th St., Jamaica
$510,000
Colonial, 3 bedrooms, 2 bathrooms
Leeav Faigenblat, Family Home Realty
LLC
Over $900,000
81-04 Chevy Chase St., Jamaica Estates
$1,678,000
Tudor, 4 bedrooms, 5 bathrooms
Solomon Davydov, Exit Realty First
Choice
Under $500,000
88-25 155th Ave., Howard Beach
$189,000
Co-op
1 bedroom, 1 bathroom
Michael Driscoll, Century 21 Amiable
Rlty Grp II
$500,000-$900,000
91-23 Gold Rd., Ozone Park
$549,000
Colonial
3 bedrooms, 3 bathrooms
Martin Freiman, Redfi n Real Estate
Over $900,000
65-37 Dieterle Cres., Rego Park
$1,528,000
Two-family Contemporary
6 bedrooms, 10 bathrooms
Paul Hua, Exit Realty One
in western neighborhoods.
MNS Real Estate released their July
2019 Rental Market Report, which
explores ongoing trends in rental prices
throughout Queens in the past month.
According to their fi ndings, average rental
prices rose from $2,308.56 to $2,365.19 in
July, marking a 2.45 percent increase compared
to June 2019.
Year-over-year, studio, one- and
two-bedroom units all saw their average
prices increase compared to June
2019. Average studio prices rose from
$1,889.76 to $1,949.35 (+4.61 percent);
one-bedroom pricing rose from $2,240.39
to $2,270.55 (+4.42 percent); and
two-bedroom prices rose from $2,795.53
to $2,837.88 (+1.09 percent).
Rego Park and Astoria each saw
a decrease in prices for one-bedroom
and two-bedroom units, respectively.
Rego Park’s one-bedroom units dropped
from $2,158 to $2,148, marking a 1.7 percent
decrease from June, while Astoria’s
two-bedroom units dropped from $2,503
to $2,443, a 2.3 percent decrease from
June.
Meanwhile, Forest Hills saw the largest
monthly increases for one-bedrooms and
two-bedroom units in July. One-bedroom
units rose from $2,095 to $2,195, a 4.8
percent increase, while two-bedroom
units rose from $2,621 to $2,830, an 8
percent increase.
Long Island City continues to expensive
studio, one-bedroom and two-bedroom
units in July, with prices averaging $2,774,
$3,325 and $4,482, respectively. Forest
Hills had the least expensive studios, averaging
$1,680; Jackson Heights had the
lowest priced one-bedroom units with
prices averaging $1,910; and Ridgewood
had the lowest priced two-bedroom units
with prices averaging $2,390.
According to the report’s fi ndings,
despite their low prices for two bedrooms,
Ridgewood had the highest average
monthly neighborhood price increase,
up 8.66 percent in July. MNS Real Estate
attributes the dramatic increase to the
apparent lack of studio rental inventory,
which they expect will even out going
forward. Following behind Ridgewood
with a high monthly increase was Forest
Hills, which saw a 4.48 percent increase in
July. MNS cites the increase to the number
of listings from luxury developments
in the area.
Other neighborhoods that saw average
price increases were Long Island City (+2.68
percent), Jackson Heights (+2.59 percent),
Flushing (+0.96 percent) and Astoria (+0.08
percent). However, Rego Park saw a 1.79
percent price correction in July.
Read the full report at www.mns.com/
queens_rental_market_report.
QNS/File photo
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