Wednesday, February 6, 2019

Rents are inflating in Ridgewood, Flushing and Rego Park


A recent report found that rental units in Queens saw slight increases in the new year.
MNS Real Estate released their January 2019 Rental Market Report, which took a look at the trends in real estate rental prices throughout January.
According to the report, average rental prices in January 2019 increased from $2,202.98 to $2,210.32, marking a 0.33 percent increase from December 2018. Compared to January 2018, average rental prices have increased 1.67 percent year-over-year.
Compared to December 2018, average rental prices for studios in January 2019 decreased from $1,834.60 to $1,783.31. Average rental prices for one-bedroom units increased from $2,094.52 to $2,117.10 and two-bedroom units increased from $2,679.83 to $2,681.02.
Flushing and Ridgewood each saw the largest increases in average prices for one-bedroom units during January 2019, raising 5.2 percent and 4.3 percent, respectively. The largest decreases in average prices for studio units were found in Jackson Heights and Long Island City, decreasing 9.9 percent and 4.3 percent, respectively.


Anonymous said...

Inflation is the name of the game and there is nothing progressives or conservatives can do about it. No legislation in the world can prevent it from happening.

Anonymous said...

Too many foreigners here. When you allow 4 grown men OR 2 families to living in a 1 or 2 bedroom apartment, everyone elses rents will rise because they "think" regular families can actually afford the price because 4 grown men or 2 families with more working people can afford to split the cost but a regular family of 2 parents and 1 or 2 kids would have a hard time paying it. Not to mention, when you have 4 grown men living in a one bedroom apartment or 2 families living in an apartment, they are wasting more utilities so EVERYONES utility costs go up so if these utilities are included with your rent, then the price will rise on EVERYONE. The dob does nothing to regulate how many people are allowed to stay in one apartment, so it will continue to rise.

Anonymous said...

Seems to me the differential between the studios and 1-bedrooms is smaller than it should be. A dual income household can easily share a 1-bedroom, not so much a studio. Anyone have any insight into what's going on?

JQ LLC said...

People are shacking and rooming in studios now. The city is aware of this, check out the Woodside affordable housing story I posted. Studios for 2 for 90 to 100 grand income qualifications

Anonymous said...

Blame the yuppies, hippies, and other assortments of out of state freaks. They caused this.