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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 2,405,464, 816,859 total housing units (homes and apartments), and a median house value of $877,497, 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 41.52% 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 ( 29.99%), single-family detached homes ( 19.15%), and a few row houses and other attached homes ( 9.08%). Boroughs with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact boroughs that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
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 48.04% of the borough's housing hails from this era. Other housing ages represented in Queens include homes built before 1939 ( 30.44%) and housing constructed between 1970-1999 ( 12.96%). There's also some housing in Queens built between 2000 and later ( 8.57%).
Real estate appreciation rates in Queens's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.45% during the period.
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 8.18%, which is higher than appreciation rates in 71.96% 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 2.82%, which equates to an annual appreciation rate of 11.76%.
Relative to New York, our data show that Queens's latest annual appreciation rate is higher than 60% 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.
$877,497
for New york
for nation
816,859
$3,708 / per month