You are reading

Astoria rental prices dip in November, experts not surprised

The Montenegro of Astoria

The Montenegro of Astoria

Dec. 17, 2014 By Michael Florio

Rental prices in Astoria dipped in the past month–although they remain largely unchanged from six months ago.

The average monthly rent decreased in November from October across all categories—whether it be studios, one-bedrooms or two-bedroom apartments, according to the MNS November report.

The November numbers, however, were essentially the same as six months ago across all categories and real estate experts were not surprised.

“It is a common trend to see rental rates drop in the winter,” said Justin Kinslow, an agent with Douglas Elliman who is based in the neighborhood.

Kinslow said rentals are in high demand in the spring and the summer months– essentially in Astoria as its profile has grown.  Therefore, landlords tend to raise the rents.

However, in the fall and winter demand wanes, which often leads to landlords settling for less.

The average price for an Astoria studio in November was $1,719, a decrease from $1,772 in October. However, the November number is largely unchanged from the June figure of $1,707, according to the MNS report.

The average price of a one-bedroom in Astoria dropped 4.45 percent in November to $2,017, compared to $2,111 in October. However, the November number is largely unchanged from six months ago when that number was $1,992.

Astoria two-bedroom apartments saw the biggest month-to-month decrease in November. Rents dropped 5.4 percent–from $2,610 in October to $2,468 in November. Despite the decline, they were mostly unchanged from June.

“In Astoria, this seasonal effect is more exaggerated because prices have increased in such a short period of time,” Kinslow said. “As the demand softens, landlords get more desperate and settle for less.”

The report noted that the overall supply of apartments in Astoria has grown and that many are now available for rent.

The increase in supply indicates that developers anticipate demand to continue as the neighborhood’s popularity grows.

 

email the author: news@queenspost.com

4 Comments

Click for Comments 
SD

I don’t think it is true reporting. I have been looking for rental property in Astoria for six to eights months now and I can’t find anything within my price range.

Reply

Leave a Comment
Reply to this Comment

All comments are subject to moderation before being posted.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Recent News

Halletts Point esplanade in Astoria opens, reconnecting community to East River waterfront

Aug. 22, 2025 By Bill Parry

When The Durst Organization broke ground on its massive Halletts Point project in Astoria on a cold winter day in January 2016, the speeches were delivered inside a massive brick warehouse that had cut off public access to a stretch of East River waterfront for generations. That warehouse is long gone, demolished and then replaced by two high-rise residential towers, 20 and 30 Halletts Point, which launched leasing earlier this year, and a 58,000-square-foot waterfront esplanade that opened to the public this month.

Queens Together launches ‘Unofficial US Open Dining Guide’ encouraging fans to sample restaurants along the 7 line

Aug. 20, 2025 By Shane O’Brien

The US Open returns to Flushing Meadows Corona Park this Sunday, with more than 1 million attendees anticipated to take mass transit to the iconic annual tennis event. With hundreds of thousands of fans set to take the 7 out to the Billie Jean King National Tennis Center, there is a world of delicious local eateries lying beneath the elevated train tracks should any fan wish to stop en-route to the US Open.