Renters paid more for one-bedroom Ridgewood apartments in February as rates jumped more than 7 percent from January, according to the Queens Rental Market Report by MNS Real Estate.
One-bedroom rents in the neighborhood, which have been rising because of a spill-over effect from nearby trendy Brooklyn neighborhoods, climbed to an average of $1,749 per month in February from $1,630 in January, the report found.
While there was a big increase in Ridgewood, rents in Rego Park, which have been increasing in recent months due to an influx of luxury units, dropped.
The average monthly rents for studios in the neighborhood fell more than 12.5 percent to $1,527 in February. Prices of two-bedrooms in the area slid more than 5 percent as well to $2,453.
Overall rents in the borough followed Rego Park and dipped slightly to $2,089.37 in February from $2,103.96 in January. However, the experts at MNS expect prices to start trending upwards as the weather heats up.
“With listing inventory steadily increasing, we expect prices to follow suit, with demand for new units pushing prices up over the coming months, especially leading up to the summer months, particularly in the Astoria and LIC neighborhoods,” the report said.
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