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Zip Code 11373

Elmhurst, NY • Queens County

Real Estate Market Analysis

Q3 2025 Report
$670,000 (2025 est.)
Median Home Value
~102,000 (2024 est.)
Population
$62,000 (2024 est.)
Median Income
Above average for diversity, average for test scores
School District Rating

Market Statistics

Property Values

$670,000 (2025 est.)
Median Home Value
$2,400/mo (2025 est.)
Median Rent
$750 (2025 est.)
Price per Sq Ft

Market Performance

Home Appreciation4.2% year-over-year (2024-2025)
Market VelocityProperties average 38 days on market; high demand, low inventory
Foreclosure Rate0.7% (2025, below NYC average)

Area Information

Area Size~1.3 sq mi
CountyQueens
Primary CityElmhurst

Housing Profile

Housing Statistics

Total Housing Units~41,000 (2024)
Owner Occupied23%
Rental Properties77%
Vacant Units1.4% (tight market)[2]
New ConstructionSignificant uptick in multifamily completions in Queens, up 73.1% to 8,061 units citywide in 2024[2]

Housing Types

Pre-war co-opsPost-war condosWalk-up apartmentsMid-rise multifamilySingle-family homes (minority)

Demographics

~102,000 (2024 est.)
Population
38
Median Age
$62,000 (2024 est.)
Median Income
Unemployment 4.8% (2025 est.)
Employment Rate
High school or higher: 75%; Bachelor’s or higher: 28%
Education Levels
Predominantly families and multigenerational households; high immigrant population
Family Composition

Education Quality

School District Performance

Above average for diversity, average for test scores
District Rating
School DistrictNYC District 24
Test ScoresELA: 54% proficient; Math: 60% proficient (2024)
Graduation RatesHigh school: 84% (2024)

Schools in Area

  • PS 7 Louis F. Simeone
  • PS 89 Elmhurst
  • IS 5 Walter Crowley
  • Newtown High School

Economic Factors

Employment & Business

Job Growth2.1% (2024-2025)
Unemployment Rate4.8% (2025 est.)
Business EnvironmentVibrant small business sector, strong retail presence
Commercial ActivityActive along Queens Blvd, Broadway, Roosevelt Ave

Major Employers

  • NYC Health + Hospitals/Elmhurst
  • Retail (Queens Center Mall)
  • Food service and hospitality
  • Transportation/logistics

Infrastructure & Quality of Life

Infrastructure

Transportation Access

  • • Subways: E, F, M, R, 7 lines
  • • Multiple MTA bus routes
  • • Easy access to LIE (I-495)

Utilities & Services

  • • Con Edison (electric/gas)
  • • NYC Water/Sewer
  • • Multiple internet providers

Quality of Life

Safety & Environment

Below NYC average for violent crime; property crime slightly above average

Good air quality, limited green space

Healthcare Access

  • • NYC Health + Hospitals/Elmhurst
  • • Numerous clinics and urgent care centers

Development Trends

Planned Developments

  • Several mid-rise multifamily projects near Roosevelt Ave and Broadway
  • Mixed-use redevelopment of underutilized retail parcels

Infrastructure Projects

  • • Streetscape improvements on Broadway
  • • Transit station upgrades

Investment Outlook

Growth Outlook

Moderate growth, driven by multifamily and mixed-use development[1][2]

Investment Opportunities

  • • Value-add multifamily
  • • Retail repositioning
  • • Transit-oriented development

Marketing Intelligence

Target Demographics

  • First-generation immigrant families
  • Young professionals
  • Investors seeking rental income

Competitive Advantages

  • High rental demand
  • Transit-rich location
  • Diverse housing stock

Pricing Strategies

Competitive pricing with focus on rental yield and value-add potential

Common Objections & Response Strategies

Objection: High density and congestion

Response Strategy:

Emphasize walkability, transit access, and vibrant street life

Objection: Older building stock

Response Strategy:

Highlight recent renovations, value-add potential, and pre-war charm

Objection: Limited parking

Response Strategy:

Promote public transit options and walkability

Professional Recommendations

1

Emphasize transit access and rental demand in marketing

2

Target immigrant and investor buyers with multilingual materials

3

Highlight recent construction and renovation activity

4

Advise sellers on competitive pricing and staging

5

Educate buyers on co-op/condo processes and local market trends

Competitive Analysis

Comparable Markets

  • Jackson Heights (11372)
  • Corona (11368)
  • Woodside (11377)

Market Positioning

Transit-oriented, affordable alternative to Manhattan and LIC

Competitive Advantages

  • Higher rental yields than Manhattan/Brooklyn
  • Lower entry price than Long Island City

Price Comparison

~15% lower than LIC, ~10% higher than Corona

Investment Metrics

4.5%–5.2% (multifamily, 2025)
Cap Rates
4.1% gross (2025)
Rental Yields
23:1 (2025)
Price-to-Rent
Strong for stabilized multifamily; moderate for condos/co-ops
Cash Flow
3–5% annual (2025–2027)
Appreciation

Buyer Journey Insights

First-Time Buyers

Seek co-ops/condos for affordability; need education on board approval and financing

Move-Up Buyers

Target larger condos or single-family homes (limited supply); value school quality

Downsizers

Prefer elevator buildings and proximity to amenities

Investors

Focus on multifamily and rental yield; value low vacancy and strong demand

Relocators

Attracted by transit, diversity, and lower prices than Manhattan

This zip code analysis was generated using comprehensive market data and AI intelligence.

Market conditions change rapidly - consult with local real estate professionals for the most current information.

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