Matrix Multifamily Queens Report-May 2025

Market Overview

Average advertised asking rents in Queens rose 0.4 percent on a trailing three-month basis through March, outpacing the national gain of 0.1 percent. Occupancy remained remarkably high at 98.4 percent in February, significantly above the U.S. average of 94.5 percent, despite more than 12,000 units under construction within the borough.

About Yardi Matrix

Yardi Matrix is a leading provider of commercial real estate data and analytics, specializing in multifamily, affordable housing, student housing, office, industrial, and self-storage markets. Their metro-level multifamily reports deliver robust snapshots of rent trends, occupancy, pipeline activity, and market fundamentals to support data-driven decision making.