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Report: Queens rent prices increase in October

Chart courtesy of MNS Real Estate.

Prepare to pay higher rents if you want to live in Queens.

An influx of new luxury buildings in Rego Park and the continued popularity of Astoria contributed to the average price for an apartment rising to $2,097 in October, according to the Queens Rental Market Report released by MNS Real Estate.

The prices for studios, one and two-bedroom apartments represents a slight jump from September, with notable changes in rents coming from Rego Park and Astoria.

In Rego Park, the average price increased because of new luxury buildings, according to the report.

“A notable growth spurt continues to take place in Rego Park as prices bounced back after a slight downturn last month,” the report said. “Developments such as The Contour at 97-45 Queens Blvd. and more recently, The Rego Modern at 99-39 66th Ave. are leading this progression.”

Renters in Astoria paid 5.3 percent more in October than September, the report showed. Studio prices in the neighborhood jump 7.05 percent to an average of $1,772.

See the full report here.

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