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Queens County, NY

RANK #737 / 996  ·  POP 2,360,826  ·  NY

PROJECTED GROWTH: -0.2%

Queens County is losing people and economic momentum. This metro faces significant structural headwinds.

[01] Why Queens County?

Flushing Meadows Corona Park, home to the iconic Unisphere from the 1964 World's Fair, anchors Queens County, New York. This borough, the largest in New York City by area, sits on Long Island, bordering Brooklyn and Nassau County to its east. Commuting to Manhattan is common, with subway lines like the E, F, N, R, and 7 providing direct access, alongside extensive bus routes and ferry services. Queens offers a diverse community feel, with neighborhoods ranging from the urban density of Long Island City and Astoria to more suburban areas. Outdoor recreation is accessible through numerous parks, including Alley Pond Park with its hiking trails and the Rockaway Beach and Boardwalk, the city's only legal surfing beach.

Life in Queens is characterized by its diversity, with nearly half of its residents being foreign-born. The borough is considered a desirable location for families, offering a blend of urban amenities and community spirit, with public schools generally performing above average. The economy is diverse, with growth in sectors such as business services, healthcare, and leisure and hospitality. Recent developments indicate continued investment in residential and commercial properties, particularly in areas like Long Island City, Sunnyside, and Woodside, which are experiencing increased business activity and housing development.

[02] Market Snapshot

Housing Ratio
14.4x

Overvalued relative to economy

GDP Growth
+1.4%

Below national median

Home Prices
+5.1%

Outpacing national median

Climate & Terrain
0.0

Moderate climate & terrain

Price/Rent
19x

Above national median (13x)

Housing looks overvalued at 14.4x — home prices are high relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

Queens County U.S. National

The Numbers

DEMOGRAPHICS
Population
2,360,826
-1.35% YoY
Median Household Income
$82,431
Median Home Value
$677,700
+5.07% 12mo
Median Rent
$1,847
Average Annual Pay
$67,719
+1.1% YoY
Employment
770,653
+4.5% YoY
Income-to-Home-Value
0.1216
Less affordable than average
Migration Inflow
1.8%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$780,000
Days on Market
63
Slower market
Months of Supply
6.3
Buyer's market
Sale-to-List Ratio
96.9%
Negotiation room for buyers
Sold Above List
18.7%
Listings w/ Price Drops
11.0%
Building Permits (2024)
5,302
Single-Family Permits
56

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$23,256M
TOTAL
PROJECT AMOUNT STATUS
Ravenswood Generating Station Redevelopment & Offshore Wind Hub (Queensboro Renewable Express)
Rise Light & Power, TotalEnergies, Corio Generation
$20,000M Planned
OneLIC (Long Island City Neighborhood Plan)
NYC Department of City Planning, City Council
$2,000M Planned
Jamaica Neighborhood Plan
NYC Department of City Planning, City Council
$700M Approved
Ravenswood Generating Station Battery Storage
Undisclosed (approved by NYS Public Service Commission)
$316M Under Construction
Astoria Energy Storage Project (East River Energy Storage Project)
174 Power Global (supported by NYCIDA)
$150M Planned
Queens Solar Energy Portfolio (JFK Airport Solar Carport & Community Solar)
Port Authority of New York and New Jersey (JFK), various (Community Solar)
$90M Operating

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +1.4% 23 percentile
Population Growth -1.4% 2 percentile
Income Growth +8.6% 53 percentile
Vacancy Rate 1.0% 52 percentile
Home Price Change +5.1% 90 percentile
Rent Growth +4.4% 72 percentile
Price/Rent 19x 12 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is Queens County, NY a good place to move to?

Queens County has a Boom Town Index score of 26/100, ranking #737 among 996 U.S. counties. With job growth at +4.5% and a median household income of $82,431, it faces some economic headwinds compared to faster-growing counties.

Is Queens County affordable?

The median home value in Queens County is $677,700 with median rent at $1,847/month. The income-to-home-value ratio is 0.1216, which is less affordable than the national average.

Is Queens County growing or shrinking?

Population growth: -1.4% year-over-year. Job growth: +4.5%. Home values changed +5.1% in the past 12 months.

[08] Similar Metros

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