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Old 05-18-2019, 04:07 PM
 
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Just curious to know does anyone know what was the average rent like in Flushing Queens during the 1980s and 1990s like for studio or 1 bedroom apartments back then?
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Old 05-18-2019, 05:44 PM
 
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In 1987 we were getting 850 for a 1 bedroom co-op rental off queens blvd by the queens ct house
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Old 05-18-2019, 08:21 PM
 
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Originally Posted by mathjak107 View Post
In 1987 we were getting 850 for a 1 bedroom co-op rental off queens blvd by the queens ct house
Adjusting for inflation, $850 in 1987 had the same purchasing power as $1912 today. Looking on Zillow, I see 1 bedrooms listed for $1600~$2300 around there now. So in that area at least, rent only just kept up with overall inflation over the last 30+ years. Kinda surprising to me, considering the common complaints about skyrocketing housing costs in NYC.
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Old 05-19-2019, 12:57 AM
 
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Queens Boulevard is not Flushing. The area by the courthouse isn’t Flushing so I’m not sure that it’s relevant to your question though.
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Old 05-19-2019, 01:54 AM
 
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Originally Posted by mathjak107 View Post
In 1987 we were getting 850 for a 1 bedroom co-op rental off queens blvd by the queens ct house
Thats expensive for back then.
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Old 05-19-2019, 03:33 AM
 
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Because that’s not Flushing lol.
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Old 05-19-2019, 04:40 AM
 
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Originally Posted by SeventhFloor View Post
Thats expensive for back then.
No it was the going rate because we were within walking distance to both the subway and the lirr so that was the going rate ...today it rents for 1800... we paid 77k back then
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Old 05-19-2019, 04:43 AM
 
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Originally Posted by zhubaba View Post
Adjusting for inflation, $850 in 1987 had the same purchasing power as $1912 today. Looking on Zillow, I see 1 bedrooms listed for $1600~$2300 around there now. So in that area at least, rent only just kept up with overall inflation over the last 30+ years. Kinda surprising to me, considering the common complaints about skyrocketing housing costs in NYC.
For the most part except for the gentrified area’s , rents and even appreciation pretty much tracked inflation ..

Our market investments in equities blew away our real estate investments in queens ... but our Manhattan stuff did extraordinary

But rents are in a big range because renting a place can vary widely between an apartment house vs a one or 2 family home ....the economy of scale is different ...
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Old 05-19-2019, 11:25 AM
 
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You could get a studio off Northern Blvd. in Flushing for $150 up to a certain point in the 80's when rents took a massive jump and became like $450 all of a sudden. It was the first time I remember working people being told they had nothing in their price range and being turned away.
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Old 05-19-2019, 01:44 PM
 
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That’s honestly more indicative of the prices in Flushing. I am a Flushing native and I can tell you that the area by Queens Boulevard is not indicative of the prices in Flushing because it’s not nearly the same area. It’s like asking for prices in harlem and someone answers about Midtown...
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