Jackson Heights & Elmhurst

Business & Economy

Real Estate

Jackson Heights Rents Rising Faster Than Other Queens Neighborhoods: Report

May 14, 2015 7:54am | Updated May 14, 2015 7:54am
Two bedroom apartments saw the largest increase in the borough in April, the report said.
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DNAinfo/Katie Honan

JACKSON HEIGHTS — Neighborhood rents shot up by double-digits for some apartments in April despite an overall decrease in rental prices across Queens, according to a report.

Two-bedroom apartments in the neighborhood saw the biggest spike in the borough, jumping 17.4 percent between March and April, a report by MNS Real Estate found. 

Rents in Jackson Heights overall were up nearly 8 percent, fueled by a "relatively small inventory" compared to other neighborhoods, the report said. 

The average two-bedroom rented for $2,560, up from $2,548. Studios and one-bedroom apartments, though, saw a minor decrease in rental costs in April, according to the report.  

Neighborhood rents were still less than in other neighborhoods profiled by the real estate company, including Long Island City — where the average two-bedroom apartment rented for $3,791. 

Two-bedroom apartments in Ridgewood were the cheapest of the neighborhoods covered, renting for an average of $1,862, according to the report.

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