This Is Queens' Most Expensive Neighborhood For 2021, Study Says

LONG ISLAND CITY, NY — Renters looking to move to Long Island City this year will need to make a chunk of change to call the neighborhood home.

Long Island City has been ranked by PropertyNest as the most expensive neighborhood in Queens going into 2021, with the average income needed to rent in the once-industrial neighborhood well into six figures.

Renters in LIC had a median monthly income of $2,935 for a one-bedroom apartment and $4,025 for a two-bedroom spot. That means the average income needed to live in the neighborhood stands at $117,400 for those looking for a one-bedroom and $161,000 for two bedrooms, according to the study, which looked at rental data for the full calendar year in 2020.

The ranking likely won't come as a surprise to Queens residents given LIC's development boom. It is not the first time the neighborhood was among the borough's most expensive.

"LIC is alive with life, tons of new businesses, restaurants and a waterfront park area," PropertyNest wrote. "All the new luxury developments and large companies moving to Long Island City means asking rent prices are much steeper than the rest of the borough."

Astoria was not far behind on the list, coming in at the third-most expensive neighborhood in the borough. Renters make an average income between $87,600 and $102,600 to live in Astoria, according to the study.

But even in the most affordable neighborhood in the borough, Murray Hill, renters make an average salary of more than $73,800.

Here's a look at the rankings:

5 Most Expensive Neighborhoods to Rent in Queens in 2021

1. Long Island City
2. Forest Hills
3. Astoria
4. Elmhurst
5. Ridgewood

5 Most Affordable Neighborhoods to Rent in Queens in 2021

1. Murray Hill
2. Flushing
3. Rego Park
4. Woodside
5. Jackson Heights

Read the full study here.