Queens, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Queens Neighborhoods Since 2000




Queens, NY Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Queens Housing Market Information

With 2,333,086 people, 780,644 houses or apartments, and a median cost of homes of $567,530, Queens house prices are not only among the most expensive in New York, Queens real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Queens, accounting for 39.96% of the borough's housing units. Other types of housing that are prevalent in Queens include duplexes, homes converted to apartments or other small apartment buildings ( 32.14%), single-family detached homes ( 19.03%), and a few row houses and other attached homes ( 8.65%). This particular housing mix is relatively uncommon and characteristic of boroughs that are compact and walkable, and which often have a lively downtown.

People in Queens primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Queens has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Queens's housing was primarily built during this period, from the '40s through the '60s. A full 51.36% of the borough's housing hails from this era. Other housing ages represented in Queens include homes built before 1939 ( 30.46%) and housing constructed between 1970-1999 ( 12.20%). There's also some housing in Queens built between 2000 and later ( 5.99%).

Queens Home Appreciation Rates

In the last 10 years, Queens has experienced some of the highest home appreciation rates of any community in the nation. Queens real estate appreciated 17.95% over the last ten years, which is an average annual home appreciation rate of 1.66%, putting Queens in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Queens definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Queens that despite a nationwide downturn in the housing market, Queens real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Queens appreciation rates continue to be some of the highest in America, at 8.76%, which is higher than appreciation rates in 89.89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Queens. Queens appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New York, our data show that Queens's latest annual appreciation rate is higher than 90% of the other cities and towns in New York.

One very important thing to keep in mind is that these are average appreciation rates for the borough. Individual neighborhoods within Queens differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Queens - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Queens real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$567,530

Queens, NY HOME PRICES

Value Range
> $1,258,000 2.8
$944,001 - $1,258,000 9.8
$629,001 - $944,000 28.9
$503,001 - $629,000 17.8
$378,001 - $503,000 15.9
$252,001 - $378,000 12.4
$126,001 - $252,000 7.6
$63,001 - $126,000 1.7
$0 - $63,000 3.1

Very High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
4.38298371030118 12.7946127946128

Number Of Homes And Apartments:
780,644

Queens Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
143.17% 5.29% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,953 / per month

Homeownership Rate

Homeownership
Owners 43.11
Renters 56.89
Vacant 7.53

Housing Market Details

 

Age of Homes

AGE OF Queens HOMES
2000 or Newer 6.0
1970 - 1999 12.2
1940 - 1969 51.4
1939 or Older 30.5

Types of Homes

TYPE OF Queens HOMES
Single-Family 19.0
Townhomes 8.7
Small Apt. Buildings 32.1
Apt. Complexes 40.0
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Queens HOMES
No Bedroom 4.65
1 Bedroom 25.87
2 Bedrooms 32.69
3 Bedrooms 27.40
4 Bedrooms 6.59
5 or more bedrooms 2.79