Rent & Cost of Living in Astoria
From The Peopling of Astoria, Queens
The cost of living in Astoria is rather high, especially in comparison to the rest of the United States. 84% percent of the houses occupied in Astoria are rented, as opposed to only 21% in the United States as a whole, and only 13% of homes are owned in Astoria, compared with 64% in the entire United States. The very high cost of housing plays a large factor in this. The average cost of renting an apartment is $1,113 a month, almost twice the cost of average rent in the United States. The average price for buying a house is $414, 000; again nearly double that of the average cost in the United States. Real estate in Astoria has become very valuable. In the past year, property value has increased 25%, according to real estate agent Bedros Sarkissian. The cost of living index in Astoria is 196.4. The cost of living index is only 99.52, almost 100 points lower. With an average salary of $35,000-$40,000, Astorians spend close to 10% of their yearly salary on housing alone. This can make living in Astoria tough. Why is it then that this neighborhood has become so popular in recent years? For one thing, while rent may seem high, it is actually low compared to that in Brooklyn and Manhattan. The average price per square foot for a co-op in Queens is $250-$400 per square foot, versus $500-$700 in Brooklyn, and starting as high as $820 in Manhattan.Even though its popularity in recent years has caused property values to spike, it is still a bargain compared to other boroughs, like Brooklyn and Manhattan. Its close proximity to Manhattan also makes it ideal for jobseekers.
This 5 bedroom, 4 bathroom house is hardly a typical house in Astoria. One of the most fancy and expensive houses in the area, this one is priced at $4,000,000.
Here is a much more modest 2 bedroom, 1 bathroom condo, priced at $571,259.
Here is a 2 bedroom, 1 bathroom apartment in Astoria, priced at $2,000 a month.
To take a virtual tour of this apartment, please click here.