Matrix Multifamily Queens Report-January 2025 January 29, 2025

Queens Shows Resilience

Queens average advertised asking rents were up 0.7 percent on a T3 basis through November, significantly ahead of the U.S., and 5.9 percent YoY, among the highest nationwide. Supply growth remained solid, with 2,337 units delivered, just 600 short of 2023’s total.