Sep. 6, 2024 By Ethan Marshall
The average rental price for housing units across Queens went up 4.07% year-over-year in August 2024, according to a report by the real estate firm M.N.S. Real Estate.
Queens had its overall rental price jump from $2,812 in August 2023 to $2,926 in August 2024. Studios, one-bedroom, and two-bedroom units each experienced price hikes over this period of time. While the year-over-year changes were not as extreme as last month, the trends were similar.
Studios again had the largest percentage increase, going up 5.92%, from $2,240 in 2023 to $2,372 in 2024. Rego Park retained its title of having the most significant increase in studio rent year-over-year among the 11 Queens neighborhoods included in the study. The cost there rose from $2,138 last year to $2,714 this year.