Zip codes with the fastest growing rent in New York

Written by:
March 25, 2021
realtor.com

Zip codes with the fastest growing rent in New York

Since the start of the 21st century and prior to the coronavirus pandemic, the cost of rent has skyrocketed across America. Every state in the nation saw a spike in the cost of apartments and other residential rentals. Places like Washington D.C., California, and Hawaii have seen rent prices more than double over the past two decades.

While the reasons for rent hikes may vary by locality, one of the major factors for higher costs is the overall decline in homeownership, which hit a peak of 66% in 2000. That, in turn, has led to more Americans turning to rentals, ultimately pushing up the amount landlords can charge. The problem is exacerbated by a shortage of construction workers, which makes it difficult for developers to boost the supply of available housing.

The coronavirus pandemic threw rental properties for a proverbial loop. The Census Bureau in April 2020 launched a Household Pulse Survey providing weekly updates on how individuals and families have been affected during the pandemic. Data show ongoing difficulties in finding work, affording food, and paying the rent. Meanwhile, the pandemic has created a “seesaw effect” on rent, with rental rates in the most expensive U.S. cities dropping while rental rates have gone up in historically less expensive areas.

Stacker compiled a list of zip codes with the fastest growing rent in New York using data from Zillow. Zip codes are ranked by the change in Zillow Observed Rent Index for all homes and apartments over the last year as of January 2021. Listings and images are from realtor.com.

Zip codes with the fastest growing rent in New York

Since the start of the 21st century and prior to the coronavirus pandemic, the cost of rent has skyrocketed across America. Every state in the nation saw a spike in the cost of apartments and other residential rentals. Places like Washington D.C., California, and Hawaii have seen rent prices more than double over the past two decades.

While the reasons for rent hikes may vary by locality, one of the major factors for higher costs is the overall decline in homeownership, which hit a peak of 66% in 2000. That, in turn, has led to more Americans turning to rentals, ultimately pushing up the amount landlords can charge. The problem is exacerbated by a shortage of construction workers, which makes it difficult for developers to boost the supply of available housing.

The coronavirus pandemic threw rental properties for a proverbial loop. The Census Bureau in April 2020 launched a Household Pulse Survey providing weekly updates on how individuals and families have been affected during the pandemic. Data show ongoing difficulties in finding work, affording food, and paying the rent. Meanwhile, the pandemic has created a “seesaw effect” on rent, with rental rates in the most expensive U.S. cities dropping while rental rates have gone up in historically less expensive areas.

Stacker compiled a list of zip codes with the fastest growing rent in New York using data from Zillow. Zip codes are ranked by the change in Zillow Observed Rent Index for all homes and apartments over the last year as of January 2021. Listings and images are from realtor.com.

#30. 11234 (Brooklyn)

- 1 year rent change: -1.0%
--- #84 fastest falling rent among zip codes in New York, NY metro
- 5 year rent change: +7.8%
- Typical rent: $2,090
--- 18.1% less than typical rent in New York, NY metro

- Pictured (for rent): 1741 E 51st St Unit 2, Brooklyn 11234 ($1,950)

#29. 11228 (Brooklyn)

- 1 year rent change: -0.9%
--- #85 fastest falling rent among zip codes in New York, NY metro
- 5 year rent change: +12.6%
- Typical rent: $2,097
--- 17.8% less than typical rent in New York, NY metro

- Pictured (for rent): 7717 15th Ave, Brooklyn 11228 ($1,900)

#28. 11021 (Great Neck)

- 1 year rent change: -0.8%
--- #86 fastest falling rent among zip codes in New York, NY metro
- 5 year rent change: +4.4%
- Typical rent: $3,194
--- 25.2% above typical rent in New York, NY metro

- Pictured (for rent): 245 Great Neck Rd, Great Neck 11021 ($4,095)

#27. 11435 (Jamaica)

- 1 year rent change: -0.5%
--- #88 fastest falling rent among zip codes in New York, NY metro
- 5 year rent change: +12.1%
- Typical rent: $1,836
--- 28.1% less than typical rent in New York, NY metro

- Pictured (for rent): 147-40-148-10 Archer Ave, Jamaica 11435 ($2,628)

#26. 11377 (Woodside)

- 1 year rent change: +0.6%
--- #53 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +4.6%
- Typical rent: $1,990
--- 22.0% less than typical rent in New York, NY metro

- Pictured (for rent): 4706 49th St, Woodside 11377 ($2,300)

#25. 10591 (Tarrytown)

- 1 year rent change: +0.6%
--- #52 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +15.7%
- Typical rent: $2,481
--- 2.8% less than typical rent in New York, NY metro

- Pictured (for rent): 1202 Crescent Dr, Tarrytown 10591 ($2,790)

#24. 11501 (Mineola)

- 1 year rent change: +0.7%
--- #49 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +15.8%
- Typical rent: $2,965
--- 16.2% above typical rent in New York, NY metro

- Pictured (for rent): 199 2nd St, Mineola 11501 ($7,950)

#23. 11361 (Bayside)

- 1 year rent change: +1.0%
--- #47 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +3.7%
- Typical rent: $2,224
--- 12.9% less than typical rent in New York, NY metro

- Pictured (for rent): 40-39 202nd St Unit 3, Flushing 11361 ($2,200)

#22. 11357 (Whitestone)

- 1 year rent change: +1.1%
--- #44 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +13.7%
- Typical rent: $2,195
--- 14.0% less than typical rent in New York, NY metro

- Pictured (for rent): 148 St # 5AVE, Whitestone 11357 ($2,300)

#21. 11360 (Bayside)

- 1 year rent change: +1.2%
--- #43 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +3.4%
- Typical rent: $2,372
--- 7.1% less than typical rent in New York, NY metro

- Pictured (for rent): 16-70 Bell Blvd, Bayside 11360 ($2,550)

#20. 10463 (Bronx)

- 1 year rent change: +1.2%
--- #42 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +15.8%
- Typical rent: $2,222
--- 12.9% less than typical rent in New York, NY metro

- Pictured (for rent): 5959 Broadway, Bronx 10463 ($1,800)

#19. 10701 (Yonkers)

- 1 year rent change: +1.5%
--- #40 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +19.4%
- Typical rent: $2,351
--- 7.9% less than typical rent in New York, NY metro

- Pictured (for rent): 95-117 Ravine Ave, Yonkers 10701 ($2,000)

#18. 11432 (Jamaica)

- 1 year rent change: +1.8%
--- #39 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +13.7%
- Typical rent: $1,958
--- 23.3% less than typical rent in New York, NY metro

- Pictured (for rent): 153-30 89th Ave, Jamaica 11432 ($2,540)

#17. 10901 (Suffern)

- 1 year rent change: +1.8%
--- #37 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +10.2%
- Typical rent: $2,174
--- 14.8% less than typical rent in New York, NY metro

- Pictured (for rent): 92 Blauvelt Way, Suffern 10901 ($4,560)

#16. 10801 (New Rochelle)

- 1 year rent change: +2.0%
--- #35 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +11.4%
- Typical rent: $2,491
--- 2.4% less than typical rent in New York, NY metro

- Pictured (for rent): 165 Huguenot St, New Rochelle 10801 ($2,329)

#15. 11550 (Hempstead)

- 1 year rent change: +3.1%
--- #27 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +9.1%
- Typical rent: $2,905
--- 13.8% above typical rent in New York, NY metro

- Pictured (for rent): 451 Fulton Ave, Hempstead 11550 ($2,199)

#14. 10314 (Staten Island)

- 1 year rent change: +3.4%
--- #25 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +18.3%
- Typical rent: $1,998
--- 21.7% less than typical rent in New York, NY metro

- Pictured (for rent): 243 Kelly Blvd, Staten Island 10314 ($1,700)

#13. 14607 (Rochester)

- 1 year rent change: +3.5%
--- #1 fastest growing rent among zip codes in Rochester, NY metro
- 5 year rent change: +16.9%
- Typical rent: $1,135
--- 5.6% less than typical rent in Rochester, NY metro

- Pictured (for rent): 340 Rutgers St, Rochester 14607 ($2,600)

#12. 10708 (Bronxville)

- 1 year rent change: +3.8%
--- #22 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +8.3%
- Typical rent: $3,067
--- 20.2% above typical rent in New York, NY metro

- Pictured (for rent): 790 Bronx River Rd Apt A25, Bronxville 10708 ($1,850)

#11. 10457 (Bronx)

- 1 year rent change: +3.8%
--- #21 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +34.5%
- Typical rent: $1,675
--- 34.4% less than typical rent in New York, NY metro

- Pictured (for rent): 1511-1521 Sheridan Ave, Bronx 10457 ($1,575)

#10. 11236 (Brooklyn)

- 1 year rent change: +4.3%
--- #19 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +27.9%
- Typical rent: $2,129
--- 16.6% less than typical rent in New York, NY metro

- Pictured (for rent): 1625 Rockaway Pkwy, Brooklyn 11236 ($2,550)

#9. 10707 (Tuckahoe)

- 1 year rent change: +4.5%
--- #18 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +14.9%
- Typical rent: $2,323
--- 9.0% less than typical rent in New York, NY metro

- Pictured (for rent): 64 Midland Pl, Tuckahoe 10707 ($4,865)

#8. 10580 (Rye)

- 1 year rent change: +4.5%
--- #17 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +3.7%
- Typical rent: $3,772
--- 47.8% above typical rent in New York, NY metro

- Pictured (for rent): 150 Theodore Fremd Ave, Rye 10580 ($4,400)

#7. 10583 (Scarsdale)

- 1 year rent change: +4.7%
--- #16 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +11.2%
- Typical rent: $5,541
--- 117.1% above typical rent in New York, NY metro

- Pictured (for rent): 70 Garth Rd, Scarsdale 10583 ($5,600)

#6. 10950 (Monroe)

- 1 year rent change: +6.3%
--- #10 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +14.7%
- Typical rent: $1,951
--- 23.6% less than typical rent in New York, NY metro

- Pictured (for rent): 2 Lamplight Village Rd, Monroe 10950 ($1,950)

#5. 12508 (Beacon)

- 1 year rent change: +7.3%
--- #6 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +31.7%
- Typical rent: $1,957
--- 23.3% less than typical rent in New York, NY metro

- Pictured (for rent): 194 Tompkins Ave, Beacon 12508 ($1,483)

#4. 11542 (Glen Cove)

- 1 year rent change: +7.7%
--- #5 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +28.1%
- Typical rent: $3,155
--- 23.6% above typical rent in New York, NY metro

- Pictured (for rent): 100 Village Sq, Glen Cove 11542 ($4,718)

#3. 10543 (Mamaroneck)

- 1 year rent change: +12.7%
--- #3 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +20.4%
- Typical rent: $3,381
--- 32.5% above typical rent in New York, NY metro

- Pictured (for rent): 746 Mamaroneck Ave, Mamaroneck 10543 ($3,520)

#2. 10960 (Nyack)

- 1 year rent change: +14.0%
--- #2 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +29.2%
- Typical rent: $2,260
--- 11.4% less than typical rent in New York, NY metro

- Pictured (for rent): 292 Piermont Ave, Nyack 10960 ($2,300)

#1. 12601 (Poughkeepsie)

- 1 year rent change: +18.1%
--- #1 fastest growing rent among zip codes in New York, NY metro
- 5 year rent change: +46.7%
- Typical rent: $1,608
--- 37.0% less than typical rent in New York, NY metro

- Pictured (for rent): 289 Main St, Poughkeepsie 12601 ($2,025)

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