Real estate firm PropertyShark ranked New York City as the city with the largest concentration of expensive ZIP codes in the U.S. by closed home sales.
In PropertyShark’s report, the ZIP code for Hunters Point in Queens,11109, was cited as one of the eight New York City locations to rank in the top 100 priciest ZIP codes.
Hunters Point’s ZIP code was ranked as having the fifth-highest median sale price, at $2.09 million. The only zip codes that had a higher median sale price were 10282 (Battery Park City) at $3.4 million, 10007 (Tribeca) at $3.09 million, 10013 (Tribeca/Hudson Square) at $2.97 million and 10069 (Upper West Side) at $2.17 million. Hunters Point is the lone neighborhood within the top five not located in Manhattan.
Other ZIP codes within New York City that made PropertyShark’s top 100 for most expensive ZIP codes in the U.S. include 10012 (SoHo/NoHo/NoLita) at $1.95 million, 10028 (Upper East Side) at $1.84 million and 11231 (Red Hook), also at $1.84 million. The latter ZIP code is the lone Brooklyn neighborhood to be cited as a main contributor.
When it came to the list for the 100 most expensive ZIP codes, Battery Park City’s 10282 ranked 20th, Tribeca’s 10007 came in 24th, Tribeca and Hudson Square’s 10013 ranked 27th, the Upper West Side’s 10069 came in 65th, Hunters Point ranked 72nd, SoHo, NoHo and NoLita’s 10012 was 87th, the Upper East Side’s 10028 ranked 97th and Red Hook’s 11231 was ranked 98th.
This year’s study marked the first time that New York City ranked as the epicenter of expensive zip codes since 2016.
There was a 2.94% increase in the average rental price in Queens in October 2023 compared to the same month last year, according to a report from the MNS Real Estate firm.
The year-over-year increase came despite the fact that rental prices for two-bedroom units actually went down 0.48%, from $3,441 to $3,424. This is largely due to more significant increases experienced with studio (5.40%) and one-bedroom (5.46%) units. Rental prices increased in studio units from $2,140 to $2,256 and in one-bedroom units from $2,588 to $2,729.
Despite the significant increase in the average rental price by the end of October this year compared to the same time last year, there was very little change compared to September 2023. Month-over-month, there was a 0.06% decrease in average rental price, from $2,804.94 to $2,803.12.
Month-over-month, the average rental price of studio units increased 1.5% from $2,222.19 to $2,255.57. However, the average rental price for one-bedroom and two-bedroom units both went down. There was a 0.67%, decrease for one-bedroom units, from $2,747.66 to $2,729.38. Two-bedroom units experienced a 0.60% decrease in average rental price, from $3,444.97 to $3,424.40.
Five Queens neighborhoods tracked in the report, Astoria (1.93%), Rego Park (1.5%), Forest Hills (0.28%), Elmhurst (0.89%) and Sunnyside (0.95%), experienced an increase in the average rental price in October compared to September. The remaining six Queens neighborhoods, Long Island City (0.99%), Ridgewood (0.97%), Flushing (0.35%), Jackson Heights (1.41%), Jamaica (1.11%) and Woodside/Maspeth (0.66%), had a decrease over that same period of time.
Astoria saw the largest month-over-month increase in studio units, rising 12.8%, from $2,090 to $2,358. The most significant decrease during this same period of time was seen with studio units in Elmhurst, which went down 12%, from $1,988 to $1,749.
Long Island City had the most expensive studio ($3,418), one-bedroom ($4,145) and two-bedroom ($5,756) units in terms of average price. Flushing had the cheapest studio units ($1,679) and Elmhurst had the least expensive one-bedroom ($2,275) and two-bedroom ($2,845) units.
10 comments:
Elections have consequences
That place is full of rich gay Chinese, according to Dr Doofus.
Everything is such a mystery to the press. Now go to any of these "wow rents are high!" articles. Then do a CTRL-F "immi". See what happens. You know what happens? Nothing. Immigration is NEVER mentioned as a reason for high rents, but it's far and away the most important reason.
The press is not interested in either rich Chinese kids getting fancy apartments, or twenty illegal Chinese peasant slop shop workers sharing a house. Or a thousand variations of this, insert the nationalities of your choice.
The best Manhattan skyline view.
Sure beats Manhattan’s view of LIC😂
Good points NPC_
@"Elections have consequences"
Sure. Communists like you don't like elections.
I can’t figure my mother out, she is a Biden supporter. She is long retired from the Board Of Education, she is focused on Social Security. She is convinced that Biden and the Democratic Party will be working on a bill to maintain and increase her Social Security. This issue is the furthest thing from their minds (Biden). At least that’s what I see, I could be wrong. She’s wasted her time and money donating to these Dems.
Is this Bidenomics at work?
@"Is this Bidenomics at work?"
No. Next silly question...
What does Biden have to do with rents in Long Island City. NOTHING. Absolutely NOTHING. Why is this even being brought up since it has nothing to do with rents in NYC>
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