The Queens neighborhoods of Oakland Gardens, Kew Gardens Hills, Jackson Heights, Rego Park, Kew Gardens and Forest Hills were determined to be the six New York City neighborhoods where home buyers could save the fastest for a 20% down payment, according to a report by StreetEasy.
The median citywide asking price of $1.045 million in April 2026 indicates it would take 19.81 years for aspiring homeowners who earn the median household income to save up for a 20% down payment. Queens was the only borough included in the report with a lower required timeframe than New York City as a whole, at 15.25. This is thanks in large part to the six neighborhoods bringing down the timeframe.
In Oakland Gardens, it would take 7.8 years to save on the neighborhood’s median 20% down payment of $69,800. Kew Garden Hills is almost as fast, at 7.9 years for its $71,000 20% median down payment. Jackson Heights ranked third at 9.2 years to earn the 20% median down payment of $83,000. Rego Park, Kew Gardens and Forest Hills each take 9.3 years to reach their respective 20% median down payments, which equate to $83,400 in Rego Park, $83,800 in Kew Gardens and $84,000 in Forest Hills.
Queens homes experienced the largest year-over-year jumps in median asking price, number of homes for sale and homes entering contract, compared to Manhattan, Brooklyn and New York City as a whole, in April 2026. The median asking price rose 4.4%, from $656,130 in April 2025 to $685,500 in April 2026. Homes for sale went up 23.1%, from 2,535 last year to 3,120 this year. Homes entering contract increased 10.9%, from 358 to 397. The median number of days homes were on the market remained the same, at 59 days in both 2025 and 2026. Despite the large boosts in median asking price, number of homes for sale and homes entering contract, they are each significantly lower than the other two boroughs and New York City.
When it came to the rental market, Queens experienced a 3.2% jump in median asking rent, from $3,101 in April 2025 to $3,200 in April 2026. Over the same period of time, the number of homes available for rent fell 13.9%, from 4,881 in 2025 to 4,202 in 2026. The share of rentals with price cuts dropped 1.1 percentage points, from 10.1% last year to 9% this year. The share of rentals offering concessions also decreased 1.1 percentage points, from 19.7% to 18.6%.
