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Astoria experiences massive spike in sublet listings: Report – QNS.com

Astoria experiences massive spike in sublet listings: Report

28-30 34th St. in Astoria
Photo via Google Maps

Astoria experienced an unprecedented spike in average daily sublet listings in May, evidencing a mass exodus of renters from the western Queens neighborhood, according to a new report.

The average daily sublet listings increased by 267 percent in Astoria, according to apartment listing site RentHop, the second highest increase in the city.

But across all five boroughs, the story is the same. Overall, the first two weeks of May saw more than 150 percent more average daily sublet listings when compared to listings for the first two weeks of April 2020, according to the report.

The increase is the most dramatic spike the apartment listing site has ever recorded.

According to the report, the spike has nothing to do with seasonality. In May 2019, RentHop saw a 1 percent decline in the number of daily sublet listings when compared to the month prior.

Average Daily Sublet Listings in New York City

Courtesy of RentHop

Most of the biggest spikes came in Manhattan and Brooklyn neighborhoods.

The Theater District experienced a 267 percent increase in average daily listings and Yorkville experienced a 255 percent increase, according to the report. In Brooklyn, Williamsburg and Greenpoint saw massive spikes.

Top 10 Neighborhoods With Highest Spike of Average Daily Sublet Listings

Courtesy of RentHop

According to RentHop, the first two weeks of the month were used as a measurement because during any given month those weeks are when most people list their apartments.

Read the full report here.

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