Report: The Rentpocalypse is Even Worse in Queens Than in Brooklyn

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It’s old news that the rent is too damn high in Brooklyn, but it might come as new news that it’s even damn higher in Queens, according to the Elliman Report for July

According to the report, median rental price in northwest Queens skyrocketed last month, with a 14% increase, to $3,016. It’s the highest it’s been in four years (Elliman started keeping track in 2011). Median rental price for a 3-bedroom in Queens jumped even more–a rise of 60.7% since early 2015, to $4,216. In north, east, and northwest Brooklyn, though, the median rent increased just a teensy bit–a 0.1% increase to $2,968 (which is still the highest median rent ever in the borough.) A two-bedroom in the surveyed area of Brooklyn goes for a median of $3,307, while the median rent for a northwest Queens two-bedroom is $4,335.

All this doesn’t change the fact that renting in Brooklyn will likely take 60% of your income, or that a studio in Brooklyn Heights is selling for $1.3 million, or that Brooklyn home sales prices reached an all-time high this year. It just means the rentpocalypse is particularly apocalyptic on the other side of the BQE.

[via Gothamist]

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1 COMMENT

  1. Beware statistics that seem shocking at first glance. The skyrocketing rent figures in Queens may be driven primarily by the luxury towers in Long Island City rather than your average apartment in Flushing or Woodside…

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