High Rental Yields in Sunnyside and Astoria
More evidence of the “hipster market” coming to Queens: the Times Ledger reports that landlords in Sunnyside and Astoria are seeing some of the highest yields on rentals in so-called hip neighborhoods throughout the country. The industry research firm RealtyTrac narrowed down “hipster neighborhoods” throughout the states — a neighborhood where at least 20 percent…
More evidence of the “hipster market” coming to Queens: the Times Ledger reports that landlords in Sunnyside and Astoria are seeing some of the highest yields on rentals in so-called hip neighborhoods throughout the country. The industry research firm RealtyTrac narrowed down “hipster neighborhoods” throughout the states — a neighborhood where at least 20 percent of the population is between the ages of 25 and 34, at least 20 percent of residents either walk or take public transportation to work, and at least 50 percent of people in the neighborhood rent. Sunnyside’s 11104 ZIP code, which stretches east from 39th Street to 42nd Street, Greenpoint Avenue and 49th Street, was the five boroughs’ highest showing on rental yields, placing 12th. According to the Times Ledger, “11104 boasts average rents of $1,870 a month for a three-bedroom apartment and median property prices around $380,050. Investors can look forward to a 5.9 percent gross yield on their rental properties.” Astoria’s 11102 ZIP code placed 14th on the list. Average rents of $2,600 a month offer a gross yield of 5.69 percent. Following Astoria was Sunset Park, in Brooklyn, with a yield of 5.66 percent. At the very top of the list, RealtyTrac found the highest hipster yields in Saint Paul, Minnesota, and in Pittsburgh.
Queens Hipster Neighborhoods Lucrative for Landlords [Times Ledger]
Wow, it seems Anon#1 has spent an excessive amount of time thinking about the word “hipster”.
I don’t agree that the word “hipster” is meaningless. While a precise definition might not be possible, I think most people know hipsters when they see them. And I think that the arrival of hipsters in a neighborhood very often means that the neighborhood is on the verge of some major positive changes–better and more interesting restaurants and stores and better neighborhood services and amenities.
Fhguy are you a realtor? When so-called hipsters invade a neighborhood they make the existing residents miserable. They have a knack for opening OVERPRICED restaurants, think $4 and up for a coffee, no thank you! I assume the Fh in your moniker stands for Forest Hills, be very very happy that hipsters have no interest in your neighborhood. They’re too busy fighting about Bushwick at the moment.
No, I’m not a realtor. Just because I think hipsters can be a positive thing for a neighborhood does not make me a realtor.
Yes I do live in Forest Hills. And in the last year I have spotted some hipsters in Forest Hills, so I wouldn’t be so sure that they have no interest in Forest Hills. I’m happy to see them here because I think this can help bring some positive changes to the neighborhood.
Saw tons of hipsters in Forest Hills the night that Modest Mouse played at that concert place.
“11104 boasts average rents of $1,870 a month for a three-bedroom apartment and median property prices around $380,050.”
Yea, $1,870/mo. for a 3 bedroom apartment in Sunnyside? Good luck finding that if you aren’t an heir to a rent-stabilized tenant.
Ahhh, the “hipster” is back…my favorite topic on which to write trivial comments.
I forgive you, Brownstoner, for using the term here – you merely repeated the Times Ledger and Realty Trac.
The use of this vacuous, silly term irks the shit out of me. Now, to double down, organizations are actually expanding its non-definition in reports that are supposed to be taken seriously?
“While the precise definition of hipsters is elusive…” Exactly. Realty Trac should’ve just stopped there. But no. They proceed to label a “hispter neighborhood” as one “where at least 20 percent of the population is between the ages of 25 and 34, at least 20 percent of residents either walk or take public transportation to work, and at least 50 percent of people in the neighborhood rent.”
OK, so there is a definition, then. A “hipster,” according to Realty Trac, is a person between the ages of 25-34, walks or takes mass transit to work, and rents. Really? They couldn’t have come up with a better term than “hipster,” which is so overused and devoid of meaning it may as well be gibberish. Just run the numbers and shut the fuck up. I fail to see how throwing that word in there enlightens anyone.
Yes, I have a weird obsession with this term. But it’s not the word per se that gets me, it’s the peoples’ collective embrace of something so devoid of meaning and the implications that follow that fascinate me. It’s truly remarkable how one can use a word so meaningless yet people will still jump on the bandwagon and repeat it like parrots. Dumb, insecure parrots.
Agree, what a strange definition. Think of the applications: People who earn too little to have cars, observant Jews who live in urban areas, recent immigrants in urban areas, and so on. But not cyclists!