Share on FacebookTweet about this on TwitterEmail this to someone
Share on FacebookTweet about this on TwitterEmail this to someone
Photo via Creative Commons
Photo via Creative Commons

Eastern Queens saw a concentration of the borough’s highly affordable areas while western Queens was home to the least affordable neighborhood in a new real estate report.

Analysts from real estate site StreetEasy compared the median sales price in each New York City neighborhood with the median sales price for its respective borough to determine the most and least affordable spots to live. In Queens, the median sales price clocks in at $500,000.

In the “World’s Borough” — which was divided into 53 separate neighborhoods — Jamaica Estates was deemed most affordable. The median home sales price in this eastern Queens neighborhood — with a housing stock ranging from co-op apartments to large mansions — was listed at $202,500: a nearly 60 percent difference from the borough median.

Second and third most affordable were neighboring Briarwood, Kew Gardens Hills and Kew Gardens, where the median sale prices are $225,000, $272,000 and $282,944, respectively. Oakland Gardens, Howard Beach and Little Neck came in at numbers 5, 6 and 7.

Deemed least affordable was the western Queens neighborhood of Long Island City, where the median sale price was $934,520 — 87 percent more than the borough median. Ridgewood, Auburndale and Fresh Meadows ranked second-, third- and fourth-least affordable in the borough, with median sale prices of $930,000, $918,000 and $895,000.

Whitestone, South Ozone Park and South Richmond Hill each saw median sales prices at the borough median.

Although there is a price gap of more than $700,000 between the most and least expensive neighborhoods in the borough, analysts noted, nearly half of all Queens neighborhoods are “somewhat accessible to the typical New York buyer.”

A report published by StreetEasy in April determined that the cost of renting or owning a home in Queens is closest to the citywide medians of any borough, “making good on Queens’ reputation as the place of choice for middle-class New Yorkers.” Renters in the borough see a 36 percent cost-to-income ratio, while homeowners face a marginally higher cost-to-income ratio at 37 percent.

Visit the StreetEasy website to access an interactive map of the city’s most and least affordable neighborhoods.

Comments:

Join The Discussion



Profile picture
FlipoutNYC May 21, 2018 / 10:20AM
Very soon Queens will not be affordable
Reply

Related Stories
These 4 Queens neighborhoods made the top 5 in NYC where home prices rose most
These 4 Queens neighborhoods made the top 5 in NYC where home prices rose most
EXCLUSIVE: Douglaston resident wants to see post office renamed to recognize the neighborhood
EXCLUSIVE: Douglaston resident wants to see post office renamed to recognize the neighborhood
Popular Stories
Photo via Shutterstock
Queens rabbi faces federal charges in scheme to extort $7 million from an individual
Photo via Shutterstock
Motorcyclist dies after losing control and crashing on the Cross Island Parkway in Whitestone
Photo by Suzanne Monteverdi/QNS
The waiting continues: North Shore Farms supermarket opening in Whitestone is delayed again


Skip to toolbar