The Rental Market

Queens dominates top 10 list of NYC neighborhoods to watch in 2023

  • Demand spurs rising prices and rents for NYC's most searched neighborhoods
  • Elmhurst, Woodside, Sunnyside, and Middle Village land on StreetEasy's annual list
By Jennifer White Karp | December 15, 2022 - 1:30PM

Topping StreetEasy's list is Turtle Bay, popular with renters and buyers looking for easy access to office buildings in Midtown East.

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Queens dominates a new list of the most in-demand New York City neighborhoods. Four neighborhoods in the borough, Elmhurst, Woodside, Sunnyside, and Middle Village landed on StreetEasy’s ranking of 10 neighborhoods to watch in 2023.

These 10 neighborhoods saw the biggest increases in median prices, median rents, and user searches on StreetEasy in 2022 and are expected to see continued demand in the new year.

Renters and buyers made affordability and short commutes a priority in their apartment searches this year as rents and prices soared and companies called workers back to the office. But the popularity of these areas means prices and rents there are rising fast—as much as 39 percent for median asking rent in Kip's Bay, for example.

 StreetEasy data

StreetEasy data

Get a walkable commute in Midtown East

Topping the list is Turtle Bay on Manhattan’s East Side, popular with renters and buyers looking for easy access to office buildings in Midtown East (it's next to Kip’s Bay, number eight on the list and also within walking distance of offices and home to new towers and older condo and co-op buildings). Turtle Bay’s median asking price jumped 25 percent to $992,500 from the 2021, the report says.

Bushwick draws hipsters on a budget

Farther-flung Brooklyn neighborhoods were the winners in 2022. New Yorkers were willing to go deeper into the borough for more affordability, likely fueled by the ability to work from home, putting Bushwick on the list at number two. The median asking rent of $3,200 was $1,000 cheaper than nearby Williamsburg—a likely draw for renters and buyers priced out of that buzzy area, the report says.

New development for less in East Harlem

East Harlem, third on the list and home to a vibrant art and restaurant scene, drew newcomers in search of lower rents at its many new developments. Median asking rents here rose 21 percent year over year to $2,600 in 2022.

Sunnyside and Woodside commuters hop the 7 train

Among the four Queens neighborhoods on the list, Elmhurst saw a sharp 42 percent increase in searches, lifting it to number four on the citywide list. Apartment hunters like the neighborhood’s malls and big-box stores. Sunnyside and Woodside, located on the 7 line, offer a quick commute to Manhattan and more affordable median asking rents ($2,200 and $2,000) than other areas. These places saw about a 40 percent increase in searches for listings, StreetEasy reports.

Housing in Middle Village is mostly single-family or two-story, multi-family homes, providing more space for people who are working from home.

 

Jennifer White Karp

Managing Editor

Jennifer White Karp steers Brick Underground’s editorial coverage of New York City residential real estate and writes articles on market trends and strategies for buyers, sellers, and renters. Jennifer’s 15-year career in NYC real estate journalism includes stints as a writer and editor at The Real Deal and its spinoff publication, Luxury Listings NYC. She holds a B.A. from Wesleyan University and an MFA in nonfiction writing from the New School.

Brick Underground articles occasionally include the expertise of, or information about, advertising partners when relevant to the story. We will never promote an advertiser's product without making the relationship clear to our readers.
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