Matrix Multifamily Queens Report-May 2025 June 05, 2025

Queens' Visible Strength

Advertised asking rents in the borough increased 0.4 percent on a T3 basis through March, while the national average inched up 0.1 percent. Queens’ occupancy rate was at a remarkable 98.4 percent as of February, well above the national average of 94.5 percent despite a strong pipeline with more than 12,000 units underway.