Real Estate
This Queens Nabe Is 3rd In U.S. For New Apartment Construction: Study
New Yorkers probably won't take... long (ahem) to guess what neighborhood bucked the city's recent housing slowdown.
QUEENS, NY — Most of America has a long way to go to catch up with one Queens neighborhood's explosion of new apartments, a new study found.
Long Island City ranked third nationwide in the "Top Zip Codes Powering the New Apartment Surge" study recently released by RentCafe.
The neighborhood's 11101 ZIP Code saw nearly 7,100 new rentals built in the last five years, the study found.
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"Why is this Long Island City neighborhood seeing a surge in demand among renters?" the study states. "In this case, it might be its easy access to Manhattan combined with the mix of both luxury and affordable housing."
Two Washington, D.C., ZIP Codes grabbed the top spots in the study.
Find out what's happening in Queensfor free with the latest updates from Patch.
Long Island City's growth stands in marked contrast to much of New York City, where housing construction has largely slowed to a trickle.
Just 11,000 new homes will be built this year in the city, another recent study found.
The citywide slowdown is a full-fledged crisis, prompting Mayor Eric Adams to unveil a grand "moonshot" plan to build 500,000 new homes in the next decade and propose a spate of sweeping zoning reforms.
The new RentCafe study shows what many New Yorkers have likely seen with their own eyes in recent years: Long Island City is booming.
And city officials recently took steps to start abroad rezoning in Long Island City that could bring even more housing to the neighborhood.
The study also included a ranking of the top 10 ZIP Codes for new apartment construction in the New York City metropolitan area.
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