Over the last month, the average rental price in Queens has increased by 1.36%, going from $2,687 to $2,723 in October, according to a new MNS report.
The latest MNS report also revealed that Forest Hills was the neighborhood with the largest month-over-month increase, where a one-bedroom rose 7.4% from $2,242 to $2,407.
Comparatively, the neighborhood with the largest month-over-month decrease was in Astoria, where a studio apartment decreased in its average rent by 3.8% from $2,328 to $2,241.
MNS has also been able to observe different trends in Queens real estate. In Long Island City, renters will find the most expensive prices for a studio, one- and two-bedroom units with prices averaging at $3,311, $3,938 and $5,873, respectively.
Ridgewood’s rental prices have also increased this past month. A two-bedroom in the neighborhood increased 7.1%, according to MNS. In September, Ridgewood’s average rental prices had dropped 7.1%.
Flushing has the least expensive studios, with prices averaging at $1,694.
Overall, average rental prices in Queens are up 16.28% from this time last year, according to MNS reports.