Source: Forgotten NY
Oct. 14, 2016 By Hannah Wulkan
The average cost to rent an Astoria apartment continues to rise, according to a recent study by the Manhattan real estate firm MNS.
MNS released its September report detailing the average cost of studio, one-bedroom, and two-bedroom apartments in various Queens neighborhoods for the 12 months ending September 30, and showed that Astoria experienced a modest increase.
For the 12 month period, rental prices in Astoria increased overall by 3.6 percent, according to the study, while the average rent across the entire borough increased by 2 percent.
The largest change in cost for Astoria was for a one-bedroom apartment, with a 6.8 percent increase in cost from $2,151 per month in September 2015 to $2,297 per month this September.
The cost of a studio apartment in Astoria was up 5.4 percent, from $1,892 per month in September 2015 to $1,995 last month.
Conversely, the price of two-bedroom apartments in Astoria went down slightly, from $2,608 per month 12 months ago to $2,597.
Other popular neighborhoods experienced mixed results.
For the 12 month period, average rental prices in Jackson Heights increased overall by 12.4 percent, representing the biggest jump in Queens.
A Jackson Heights two-bedroom cost on average $2,660 in September 2016, up from a year ago when the average was $2,134 per month. Prices for studios and one-bedrooms also rose over the year, albeit less drastically.
Meanwhile, Long Island City rental prices were flat compared to a year ago.
Studios saw the largest decrease in value, with prices falling 2.5 percent from last year. In September 2015 a studio rented for $2,488 per month, and this year went for $2,427.
Prices for one-bedrooms also fell from $2,986 per month to $2,942 per month over the 12 month period.
To view the entire study, visit http://www.mns.com/queens_rental_market_report.
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