Bayside Homes Are More Expensive Than Pre-Pandemic, Study Finds

BAYSIDE, QUEENS — The cost of buying a house in many New York City neighborhoods is still cheaper than it was before the pandemic, except in Bayside, where the allure of outer borough home ownership has caused house prices to skyrocket, new data shows.

The StreetEasy study, which compared the citywide real estate market during the third quarter of 2021 to the same period in 2019, found that home prices in Bayside are up $71,000 compared to two years ago. Area rents are also more expensive than they were in 2019, data shows.

This follows a year-long trend of people becoming more interested in buying homes in Bayside — and other outer borough neighborhoods — much to the dismay of longtime residents who have lamented the area’s development.

Locals might be pleased to know, however, that the neighborhood’s median asking price this quarter is $11,000 cheaper than it was last quarter, records show.

Asking rents in the neighborhood also rose above pre-pandemic levels, but by much less compared to house prices.

The median apartment price in Bayside this quarter is $2,200, which is a $200 increase from this time last year, and $50 more than asking prices in 2019, according to StreetEasy.

Some other citywide neighborhoods saw rent increase this quarter, too, primarily those that are popular among commuters, like Long Island City.

Overall, the market still benefits “highly mobile renters who can afford the most expensive areas” and are willing to do “everything they can to snag a lease in the neighborhood of their choosing,” StreetEasy economist Nancy Wu said — which is especially true in neighborhoods like Bayside, where there’s a lot of competition.

She expects this trend will continue until winter, when fewer people are typically looking to move.

People with a lower budget should not be discouraged, Wu said, but should keep in mind that any given apartment probably has multiple people vying for it already.

"Use all the tools at your disposal to your advantage during the rental search to help save you time and money," Wu said.

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