According to a study conducted by the nationwide apartment search website RentCafe, the Queens ZIP Code of 11101, which covers Long Island City, ranks third in new apartments completed from 2018-22.
RentCafe hypothesizes that a big contributing factor to the high demand among renters is due to Long Island City’s close proximity and easy access to Manhattan. Additionally, the area’s location along the East River provides residents with a beautiful view of the Manhattan skyline.
In 2017, there were an estimated 9,631 apartments in Long Island City. From 2018-22, there were 7,081 new apartments built there, marking a 73.5% increase to a total of 16,712 by 2022.
In addition to calculating the number of new apartments added during this period of time, RentCafe also determined the median income and age of residents within this zip code. The median income for apartment residents within the 11101 zip code was $87,264, while the median age of residents was 34.
The only two zip codes to rank ahead of 11101 when it came to new apartments were 20002 and 20003 in Washington, D.C. Ivy City, located in northeastern Washington, D.C., represents the 20002 zip code. The area had 7,378 new apartments added from 2018-22. Capitol Hill is the Washington, D.C., neighborhood represented by the 20003 zip code. From 2018-22, there were 7,225 new apartments added in that neighborhood.
Some of these buildings are in the affordable housing lottery program. Like the one pictured above by the clock tower. The biggest lie in the world is the theory that building more leads to lower rents.
16 comments:
Thanks JQ !
This is all Joe Biden's fault.
I'm sure there'll be communists posting here complaining about corporations buying up all the property in the city.
Get over it. It's called capitalism.
Build baby build! Demolish the small buildings, build up big!
There are a LOT of wealthy Chinese in the world. They gotta live somewhere! Apparently, many of them have decided Long Island City is just the place for them. Side note: LIC also has an increasing gay population.
NY is falling apart and behind in every meaningful category entirely due to their incompetent leaders which have been Democrats for almost all of it.
Never let a Democrat near anything that requires any fiscal or economic measures.
Elections have consequences.
Just admit it Sheeple. Under One Party Democrat rule, New York State has been flushed down the Crapper. No end in sight to any improvement and likely will get much worse. sad...
You will own nothing.
Nothing a few 100,000 bankruptcies won’t solve.
How much new money has been printed in the last three and a half years?
A classic case of shooting yourself in the foot. Am I wrong?
So LIC is full of rich, gay, Chinese, according to the NPC_doofus.
The times they are a-changin.
@"Elections have consequences."
Is that why the GOP want to get rid of them?
Welcome to Joe Biden’s America, where Big Mac extra value meals will run you $18.
McDonald’s insane new prices chart supersized the toll of Bidenomics and the far left.
@"Welcome to Joe Biden’s America, where Big Mac extra value meals will run you $18."
Not here in NY. Where are you getting an extra value meal for $18?
Ah, you must be down in the red swamp of Florida. Highest inflation in the country.
@"Nothing a few 100,000 bankruptcies won’t solve."
Take a hike, anti-capitalist, commie troll!
Some clown here pays out $18 for an "Extra Value Meal". Ha ha, as if your big fat ass isn't big enough already.
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