Rents in JH going up?

[Shelby2]

It seems like during most of the 6 or so years I've been in Jackson Heights that rents for one bedrooms had generally been between $1300-$1500 and just recently I've noticed more that are priced at $1600 to $1800.  Have they been slowly creeping up or is this fairly sudden (in the past year)?

[dssjh]

i agree, Shelby, and it seems like a sudden jump to me. i've noticed it more in the 2 BR range, since that's the size i have. those have passed the 2K mark, and some realtors are advertising 2300 per month, it seems.

deb

[StevenGrey]

Earlier this morning on NewsRadio88, a report said that while Manhattan rents seem to have recently plateaued, rents in desirable areas of Brooklyn were rapidly approaching Manhattan levels. I presume any recent price spikes in our neighborhood are probably being caused by a trickle down effect.

[rhydewithdis]

Same for sunnyside / woodside and indeed it is spillover effect. Manhattanites and even Brooklynites are being priced out of their places when their leases come up for renewal so they move to cheaper digs. Not standing by idly, realtors and landlords in JH, Astoria, Sunnyside, etc. bump up the rents to what the market will bear.

[JH3525]

I know someone who rented a 700SF one bedroom at Washington Plaza (35th Ave & 73 St) on February 1st for $1350.  There's a similar unit currently available for $1550.  That's a sharp increase in such a short period of time.  I wonder what impact this will have on sales in JH's. 

[agentarmen]

Even though my partner and I generally don't do many rentals, we recently took a coop rental listing, a 1 bedroom converted to 2 (JR 4) at $1995/mo, fully convinced we will be struggling against what we knew rental prices to be in the heights. In less than one month we got a full price offer after twelve showings. We also checked with some local small landlords for availability of 2 bedrooms, it appeared they started pricing above 2k. Calls are still coming in on the 2 bed we rented, so as the demand increases it's inevitable that the prices will rise.

Warmly,
Armen
www.jacksonheightslistings.com