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Real estate platform finds rents slowing, though not decreasing throughout New York City: report

Jul. 26, 2023 By Julia Moro

Real estate platform Zumper released a report analyzing staggering rental prices that continue to break records, finding huge disparities between rents across 81 neighborhoods in the city.

Throughout the city, the median rent for a one-bedroom is $3,980– which is more than twice the national median. According to Zumper, the most expensive neighborhood is NoMad, where residents can expect to pay more than $6,000.

However, Zumper observed that neighborhoods farther from Manhattan were cheaper. One-bedroom apartments cost approximately $2,000 in neighborhoods like Flushing, Jamaica, Pelham Bay, Bay Ridge and Bensonhurst.

Though prices have risen dramatically, Zumper found that prices are slowing.

Zumper provided an extensive list of average rental prices for neighborhoods throughout the city. Here are the average rental prices for a one-bedroom in Q2 in Queens:

Ridgewood: $2,700

Astoria: $2,547

Forest Hills: $2,180

Jackson Heights: $2,173

Elmhurst: $2,160

Rego Park: $2,147

Far Rockaway: $2,073

Glendale: $2,073

Kew Gardens: $2,040

Bayside: $2,037

Woodside: $2,023

Corona: $2,003

Jamaica: $1,997

Auburndale: $1,985

Flushing: $1,930

Kew Gardens Hills: $1,923

Briarwood: $1,887

Maspeth: $1,837

Queens Village: $1,813

South Ozone Park: $1,750

To see the full report, visit zumper.com/blog/rental-price-data.

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