Housing flourished in the westernmost part of Queens, as it did in few other areas of the city from 2002 to 2008, according to a new economic snapshot of the neighborhoods of Long Island City and Astoria by New York state Comptroller Thomas DiNapoli.
The size of the area's housing stock rose by about 4.8%, faster than the citywide growth of 3.6% during the six-year period, the report said, citing data from the U.S. Census Bureau's Housing and Vacancy Survey. According to the report, a total of 3,640 apartment units were added during that time in the two communities, which it calls “one of the few remaining manufacturing enclaves in the city.”
Despite all the new development, 82% of the area's housing is rental apartments, according to the comptroller's report. Two-thirds of the rental units are rent-regulated and the rest are market-rate. For the six-year period, median rent for rent regulated apartments increased 27% to $916 a month, which is less than the citywide median $850 a month. The median rent for market-rate housing rose 37% to $1,357, higher than the citywide and Queens medians of $1,200.
And they wonder why they had a blackout.