"According to Zumper's National Rent Index, rents are still trending downward nationwide, though the pace of cooling has slowed for the second straight month, suggesting downward pressure on prices could be easing."
"Even with those price drops, Queens remains far pricier than most cities nationwide - the area's median rent across all property types is 71 percent, or $1,364, higher than the national average."
"A recent StreetEasy report found NYC rental inventory fell 5.5 percent year over year to 25,989 units in February, while citywide median asking rent rose 8.2 percent to $3,950 as demand outpaces supply."
Average one-bedroom rents in Queens have decreased to $2,761, reflecting an 18% decline compared to last year. The median rent across the borough is $3,273. Three-bedroom units saw a significant drop, with average rents falling to $3,500, a 44% decrease year over year. Despite these reductions, Queens remains more expensive than most U.S. cities, with median rents 71% higher than the national average. Jackson Heights is an exception, experiencing a 2% increase in median rent. Citywide, rental inventory has decreased, leading to rising demand and prices.
Read at Queens, NY Patch
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