July 2, 2019 By Shane O’Brien
An affluent zip code by the Long Island City waterfront is the third most popular area in New York among millennials, according to a reported released today by a real estate research and listing firm.
The report, put together by The Property Club and based on U.S. Census data, found that 64 percent of the population in Long Island City’s “11109” zip code is made up of people between the ages of 20 and 39. Only two neighborhoods–or zip codes– have an equal or higher ratio of millennials– Manhattan’s Financial District and the Garment District.
“Millennials tend to favor walkable locations that will put them close to jobs and entertainment options, even if that means shelling out a more significant chuck of their paychecks on housing,” according to the report.
The report notes that while these millennial-rich neighborhoods are pricey, residents have high-paying jobs.
Most seek places, according to the report, where they can enjoy fine dining and shopping, outdoor activities and cultural events.
“Long Island City has come a long way in the last decade in terms of new construction, and it’s still primed for new investment,” the report stated. “The area benefits from some solid fundamentals.”
Long Island City, for instance, is close to midtown and downtown Manhattan, in comparison to many other neighborhoods. The report also notes that landlords in Long Island City have a relaxed leasing policy.
The report found that most millennials in Long Island City’s 11109 zip code rent. Only 7 percent own the property where they live, a tiny number compared to other areas. For instance, in Murray Hill, 28 percent of millennials own.
Seven of the top 10 millennial hotspots are found in Manhattan, with just two – Long Island City’s 11109 zip code and Astoria’s 11103 zip code – found in Queens. In Astoria, 49 percent of the 11103 population is comprised of millennials.
For the report, click here.
Zipcode 11109
Featured Events
30 Comments
Imagine it was 1939 and Nazis marching across Europe and it was up to the brunch selfie generation to save the planet.
Thank God its 2019 and the only thing to worry about is why Apple products have sucked since Steve Jobs has left the planet. Gotta admit, ear buds look pretty stupid in your ears, Jobs would have never approved that design. God rest his soul.
This one is about Hunter’s point, not Steve Jobs.
Only for the rich. I’ve attempted to apply for the affordable housing for years and never get a call. I’m a city worker, native New Yorker, but they’d rather cater to foreigners or the rich.
Maybe you should live where you can afford or find a way to make enough money to live where you want. Why should you get a special handout?
Re the affordable housing in HPS: I won a lottery in Dec 2015 for and currently reside in a studio at 1-50 50th Ave Hunters Point Commons. I can vouch that (at that time) it wasn’t the ‘rich’ that received an apartment. 80% went to middle income individuals/families and 20% to lower income individuals/familes. I believe this ratio was spread out between the two buildings and includes Hunters Point Crossings on 52nd Avenue. I was called to a fairly intense background interview where I had to provide what became a ‘dossier’ of my finances: W2’s Tax filings, paystubs going back at least two years in some cases. Plus a letter attesting to my current salary from my employer on their letterhead. I had to sign a waiver on background checks, etc. I know for a fact that rents were based on income because I’ve met tenants in my building with the exact same apartment, paying hundreds of dollars a month less than me in rent. I make a decent salary, but not 6 figures. I also know that–again at that time during the lottery, who knows what they do now–that they were giving preference strictly to Queens residents. I had lived 8 years in Bayside prior. I can’t base this on anything but what I see as a tenant: I do believe they went strong on diversity, meaning they looked for qualifying candidates based on quotas. I always say I got in on the ‘white,’ ‘female,’ baby-boomer,’ ‘single,’ checked boxes. I don’t often run into myself in the common spaces…haha.
The data source: Data source: U.S. Census Bureau, 2013-2017 American Community Survey 5-Year Estimates.
The data is used for funding projections BUT are still ESTIMATES.
I’ve been in LIC for a decade – watched the scenery change plenty in regards to hi-rises, the emergence of “chain” businesses as well as the disappearance of Ma & Pa shops on VERNON BLVD – yet, one thing I haven’t noticed is the reported HIGH influx of Millennial’s – hm, maybe it’s because I’m too busy working so I can afford the ridiculous TAXES.
All these kids are a diamond dozen not impressed sorry
The saying is a ‘dime a dozen’! Sorry, not impressed 😉
In other news, water is wet.
From, a Millennial.
Hunters Point is about as much fun as a root canal. Just a bunch of sports bros with backwards hats, kinda like Boston! At least its close to Greenpoint
so?
Great views, if they’re not obstructed, but over-priced with shops that match. Will development ever end?
As long as there’s demand, the high rises will keep going up!
Thanks to Tax Breaks from Cuomo. If you remember when the Tax breaks expired the construction almost came to a halt. Cuomo started a newer longer tax break and it started up all over again. Tax breaks are the key. Taxpayers subsidizing the rich for apartments and condos they cannot afford. Wonderful Politicians we have.
You voted for a NY real estate developer that made thing a lot easier for his fellow NY real estate developers. What a sad hypocrite.
Wouldn’t it be great it the Millennials had a well paying job that they could walk to in LIC and not crowding the 7 train like our self centered ill informed politicians were crowing about that would happen if Amazon moved in
Nobody is complaining about jobs in LIC. Amazon was a special case because of the billions in “incentives”, the location they chose, the helicopter port, the ego, the circumventing of the public review process, etc, etc, etc.
if not amazon then who?
You seem to think that we lost out on Amazon. In reality, Amazon missed out on an opportunity to move here…and why? Because they believe that you’re only worth the minimum wage and basic healthcare. That’s why they wouldn’t come to the table with anyone to renegotiate. Start aiming higher and gain some self worth already! The jobs they were supposedly creating were not for you, and the zero taxes they were going to pay would not have benefited the community.
First of all the 7 train with or without Amazon or Millennials is not EMPTY and probably will never be. Amazon would not have hired too many people from this area , maybe in lower service jobs but not the high paying ones. People would have come here from out of town sure (some millennials). They would have gotten the high paying jobs. people from the Amazon in Seattle and some other areas would get them. The Amazon headquarters they put in Virginia has home prices and rents skyrocketing. What do you think would have happened here. It would have kicked more people and businesses out of the area. Wake the heck up already. No more backroom deals that is what Cuomo promised, transparency. DeBlasio too remember. Politicians never keep their promise. Why also did they bypass the City Council????????? Bad Deal.
Let me guess, you are not a homeowner because if you were you would gladly welcome the value of your property to increase.
Let me guess, you have not the first idea of how commerce works.
Let me guess you voted for Cortez.
Let me guess you are afraid of change.
And finally, the very fact that you think the residents of western Queens are too stupid to get a job in the well paying tech sector and may only get ” lower service jobs ” shows that you a bigot in your own right.
Is that you Mr. Potter?
No. He’s that guy from the real estate agency Modern Spaces and he threw a childish temper tantrum when Amazon pulled out.
To Mr.Know it all.
Not a Home owner You Are correct
I know how commerce works You are WRONG-and here it works to subsidize the rich and gentrify the poor and middle class do not have a chance.
Can’t stand Cortez-You are wrong.
Not afraid of CHANGE-You are wrong. afraid only rich can live in this neighborhood and that is wrong sir completely wrong.
You are the bigot rich elitist or you come off that way. you are so far off base on this one. i just don’t Trust Corporations to hire who and how many they say they will. they will pick from other areas of their company first and then maybe the LIC area. They will do their best not to hire locally. Maybe Service jobs to show they are hiring locally. Remember these jobs would be over a 10 year period not immediately, I am the farthest from being a bigot you will ever see, How do you accuse some one you never met. Because I don’t like my country to be invaded by Illegals . Americans don’t want Socialist BS and OPEN BORDERS and Taxpayer funded heath care along with drivers licenses and possibly Social Security for Illegals . It is a slap in the face for People who came here legally. You must be a DUMB o Crat. People have said as much on this and other sites. I have friends from many cultures and backgrounds. The fact that you included western Queens how is that any one race to be a Bigot,I never called them stupid you did. I just do not trust Corporations to live up to their promises. remember this was a BACK ROOM DEAL. WHY ?
Millennials think they are cultured. They let their little doggies poop without picking it up. They curse just as much as anyone else. Millennials all talk the same annoying way, they use the word “LIKE” every 5 seconds. Like this Like that my boyfriend like is just awesome. All talk in the same annoying tone and say “Yaah ” as a reply to the other persons sentence. many use the phrases “SUPER” “AWESOME” and say to their kids all the time “GOOD JOB”. Annoying to say the least. They stare at their phones lost in space. I call them the talking Dead Zombies. I love when they stare at their phones looking up and down. (Using their GPS) to find out which way to go. i see them walk up and down the blocks back the way they came and sometime back the other way again. I used to ask if they were lost , no more since many just walk right by you. They can stay in their cultured events and restaurants.
Um. I think you have Millenials confused with Gen Z.
Maye it is both Millenials and Gen. Z.
You voted for the president that makes nonsensical tweets and criticize them for using their phone? What a sad hypocrite.
.. even if that means shelling out a more significant chuck of their paychecks on housing,”
You know what else they spend their paychecks on? Tidepods