Queens Home Down Payments Cost Under $100K In These Nabes: Study

QUEENS, NY — Would-be homebuyers with less than $100,000 for a down payment should be eyeing Queens, a new study found.

Six Queens neighborhoods are ranked among the top 10 cheapest typical down payments in the city, according to a new StreetEasy study.

Indeed, half the 23 neighborhoods where traditional down payments likely are fewer than six figures are in Queens, the study found.

"In Howard Beach, a Queens neighborhood by Jamaica Bay and conveniently located near JFK Airport, buying is actually less expensive than renting," the study states.

The study assumes that down payments will be at least 20 percent — a tidy sum for a city where the median asking price is $1.05 million, according to StreetEasy.

Put another way: New York City's typical asking price is 2.6 times the national average, the study states.

But there are pockets of affordability across the city, especially in Queens.

The typical asking price for a home in Briarwood is $240,000, which translates to a likely $48,000 down payment, the study states.

Read the full study here.