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Report: Queens Rent More Obscene Than Brooklyn
By
Emma Whitford
Published Aug 13, 2015
Modified Aug 13, 2015
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Courtesy Kristine Paulus's flickr
By
Emma Whitford
Published Aug 13, 2015
Modified Aug 13, 2015
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Back in May, wealthy people decided that Manhattan was the new Brooklyn, in that its "edges" had become sufficiently affordable and quirky. By that point, Queens had long since been "discovered." Today, we bring further proof that the most-branded borough has done such a good job outsourcing its brand, that soon it won't even exist anymore. Indeed, according to the Elliman Report for July, Brooklyn is now Queens for people who don't have the money to buy a house.
Elliman's monthly breakdown found that the median rental price in northwest Queens (which, to be fair, is rife with waterfront developments and luxury condos) jumped 14% last month, to $3,016—the highest it's been since Elliman started keeping track in 2011. Across north, east, and northwest Brooklyn, the median rent increased a comparatively measly 0.1% to $2,968 (it's worth noting that this median rent is still the area's highest to date, for the seven-and-a-half years that median rents have been tracked; also that Elliman data doesn't account for the entirety of each borough). The median rent for a two-bedroom in the surveyed area of Brooklyn is $3,307, while the same in northwest Queens is $4,335.
Brooklynites who make enough money to live by themselves with air plants and postcard-decorated walls might want to check out Long Island City, though, since studios in northwest Queens are still just barely cheaper: $2,490 a month, versus $2,523 in Brooklyn. Meaning you could be a smidgen cooler than your friends, and save $33 a month.
Just act fast. A close perusal of the numbers reveals that the median rental price for a 3-bedroom in northwest Queens has jumped a full 60.7% since the beginning of the year, to $4,216. For comparison, that same 3-bedroom in Manhattan, for $5,422, is actually 1.1% cheaper than it was in January.
For the time being, once confusing and now terrifyingly-clarified Quooklyn is probably a better bet. According to a report from MNS Real Estate, Ridgewood has the cheapest two-bedrooms in the borough—clocking in at $2,020.
All things considered, your best bet is probably to find a $226-a-month apartment in Chelsea.
Tagged
brooklyn
manhattan
queens
real estate
reckoning
Emma Whitford
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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