{"id":62298,"date":"2018-11-13T03:35:19","date_gmt":"2018-11-13T11:35:19","guid":{"rendered":"https:\/\/www.rentcafe.com\/blog\/?p=62298"},"modified":"2026-05-07T06:55:21","modified_gmt":"2026-05-07T13:55:21","slug":"long-island-city-and-crystal-city-expecting-an-apartment-boom","status":"publish","type":"post","link":"https:\/\/www.rentcafe.com\/blog\/rental-market\/long-island-city-and-crystal-city-expecting-an-apartment-boom\/","title":{"rendered":"Amazon&#8217;s Move to Millennial Hubs Long Island City and Crystal City Expected to Spark an Apartment Boom"},"content":{"rendered":"<p><strong><em>Highlights:<\/em><\/strong><\/p>\n<ul>\n<li>Long Island City and Crystal City, the neighborhoods selected for the Amazon move, witnessed an y-o-y rent growth of 5.1% and 5%, respectively.<\/li>\n<li>While LIC is expecting 15,400 units to be delivered in the following years, Crystal City has only 3,100 in the pipeline.<\/li>\n<li>Both neighborhoods showcase a high percentage of Millennials, 52% in Crystal City and 43% in LIC.<\/li>\n<li>85% of Crystal City\u2019s population\u00a0holds a Bachelor\u2019s degree or higher.<\/li>\n<li>Nashville, future home to Amazon\u2019s new operations facility, is planning to build 19,400 new apartments.<\/li>\n<\/ul>\n<p>Following <a href=\"https:\/\/blog.aboutamazon.com\/company-news\/amazon-selects-new-york-city-and-northern-virginia-for-new-headquarters\">Amazon&#8217;s recent\u00a0announcement<\/a> to equally split its second headquarters between Long Island City of Queens and Crystal City in Arlington, VA, it&#8217;s worth taking a closer look at how this Amazon move will ultimately impact those living in or moving to the two areas in terms of rents and apartment supply. With about 50,000 new employees, are the two locations ready to accommodate this many people as far as rental housing is concerned?<\/p>\n<p>Both neighborhoods have witnessed above-average increases in the monthly rent over the past year. The average rent for <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/crystal-city-arlington-va\/\">apartments in Crystal City<\/a> is currently $2,387 per month, 5% more expensive than one year ago. Meanwhile, <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/long-island-city-queens-ny\/\">Long Island City apartments<\/a> are already seeing steep prices, with the average monthly rate at $3,458 as of October 2018, 5.1% above last year\u2019s prices.<\/p>\n<h3>LIC and Crystal City will\u00a0see a\u00a0significant increase in apartment construction<\/h3>\n<p>The Amazon move is bound to have an impact in terms of apartment construction, not only on the specific neighborhoods about to become its second home, but also on the surrounding areas.\u00a0With a high occupancy rate of 98.2% in LIC, future Amazon employees\u00a0may have a hard time finding an apartment for rent near work.<\/p>\n<p>However,\u00a0given Amazon&#8217;s\u00a0choice to\u00a0move a part of its HQ2 in Long Island City, there\u2019s a good chance that the neighborhood will witness an outstanding apartment boom in the years to come. A total of approx. 15,400 units are under construction at the moment, planned or in a prospective phase. Amazon\u2019s\u00a0decision is definitely bound to speed up the <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/apartment-construction-is-finally-slowing-down-in-2018-after-a-6-year-upward-streak\/\">apartment construction<\/a> in the area, which is already seeing an increased number of new apartments entering the market.<\/p>\n<p>LIC is New York City&#8217;s hottest neighborhood, but also in the U.S., according to <a href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/real-estate-news\/top-20-neighborhoods-with-most-apartments-post-recession\/\">a recent RentCafe study<\/a>, with the most new apartments delivered after the recession. More than 12,500 units in 41 apartment buildings were completed here between 2010 and 2016.<\/p>\n\n<table id=\"tablepress-302\" class=\"tablepress tablepress-id-302\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Location<\/th><th class=\"column-2\">Upcoming Apartments<\/th><th class=\"column-3\">Occupancy Rate<\/th><th class=\"column-4\">Average Rent<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">Long Island City<\/td><td class=\"column-2\">15,400<\/td><td class=\"column-3\">98.2%<\/td><td class=\"column-4\">$3,458 <\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/queens-ny\/\" target=\"_blank\">Queens<\/a><\/td><td class=\"column-2\">33,900<\/td><td class=\"column-3\">98.8%<\/td><td class=\"column-4\">$2,242<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Crystal City<\/td><td class=\"column-2\">3,100<\/td><td class=\"column-3\">94.7%<\/td><td class=\"column-4\">$2,387 <\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\"><a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/arlington-va\/\" target=\"_blank\">Arlington<\/a><\/td><td class=\"column-2\">14,700<\/td><td class=\"column-3\">96.0%<\/td><td class=\"column-4\">$2,163<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">Nashville<\/td><td class=\"column-2\">19,400<\/td><td class=\"column-3\">94.6%<\/td><td class=\"column-4\">$1,344<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n<p>The situation is quite different in Crystal City, where there were no major developments in the last couple of years. Still, the area exhibits a healthy 94.7% occupancy rate, below the national level, which is 95.2%. Approximately 3,100 units are under construction, planned or prospective. But thanks to the transit systems in the <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/washington-dc\/\">Washington<\/a> metro area, after the Amazon move, future employees would have access to more than 205K rental units currently in the entire metro.<\/p>\n<p>It\u2019s worth noting that both Long Island City and Crystal City have about the same share of high-end or luxury apartments, 58% and 56% respectively. This would give prospective renters a wide pool of choices when searching for apartments.<\/p>\n<p>Moreover, Amazon also\u00a0decided to select Nashville, TN for the development of an operations and logistics facility,\u00a0planning to create 5,000 jobs in the area. The average monthly rent for <a href=\"https:\/\/www.rentcafe.com\/apartments-for-rent\/nashville-tn\/\">apartments in Nashville<\/a> is $1,344, witnessing an increase of 5.4% y-o-y.\u00a0Despite the high occupancy rate of 94.6%, Music City will provide plenty of\u00a0options for those in search of an apartment, given that 19,400 new units are expected to hit the market in the following years.<\/p>\n<h3>Both neighborhoods selected for the Amazon move boast high shares of Millennials and highly-educated population<\/h3>\n<p>What type of employees is Amazon expected to find here?\u00a0As of 2016, more than half of Crystal City&#8217;s population is made up of Millennials, 52% to be precise,\u00a0up 22% from 2011. LIC, on the other hand, has a lower Millennial population of 43%, but the area abounds with <a href=\"https:\/\/www.rentcafe.com\/blog\/apartmentliving\/lifestyle-apartmentliving\/u-s-zip-codes-that-are-millennial-strongholds\/\">Millennial hot-spots<\/a>.<\/p>\n<p>The median household income in Crystal City is almost double than in Long Island City: $107,478 vs. $54,109. Also, the percentage of people holding a Bachelor\u2019s degree or higher in Crystal City is a whopping 85%, while in LIC it\u2019s about half that, 45%. This data gives a good indication that knowledge workers &#8211; the kind of employees needed after the Amazon move &#8211; would be found in both LIC and Crystal City.<\/p>\n<h3><em>Methodology:<\/em><\/h3>\n<p><span style=\"color: #007cba;\"><i><u>RentCafe<\/u><\/i><\/span><em>\u00a0is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States.<\/em><\/p>\n<p><em>The report is exclusively based on apartment data related to large-scale buildings containing 50 or more units.\u00a0<\/em><em>Rent data was provided by <a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"external noopener noreferrer\" data-wpel-link=\"external\">Yardi Matrix<\/a>, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors.\u00a0<\/em><\/p>\n<div class=\"usagerights\">\n<div class=\"fairuse\">\n<h3>Fair use and redistribution<\/h3>\n<p>We encourage you and freely grant you permission to reuse, host, or repost the images in this article. When doing so, we only ask that you kindly attribute the authors by linking to <a href=\"https:\/\/www.rentcafe.com\">RentCafe.com<\/a> or this page, so that your readers can learn more about this project, the research behind it and its methodology.<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Highlights: Long Island City and Crystal City, the neighborhoods selected for the Amazon move, witnessed an y-o-y rent growth of 5.1% and 5%, respectively. While LIC is expecting 15,400 units to be delivered in the following years, Crystal City has only 3,100 in the pipeline. Both neighborhoods showcase a high percentage of Millennials, 52% in&hellip;<\/p>\n","protected":false},"author":55,"featured_media":62305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3660,3659],"tags":[],"class_list":["post-62298","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-news","category-rental-market","gallery-content-unit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Amazon Move: Forecasted Apartment Boom for LIC and Crystal City<\/title>\n<meta name=\"description\" content=\"LIC and Crystal City were chosen for the Amazon move as homes to its HQ2, but how will this affect apartment construction in both areas?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/long-island-city-and-crystal-city-expecting-an-apartment-boom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amazon&#039;s Move to Millennial Hubs Long Island City and Crystal City Expected to Spark an Apartment Boom\" \/>\n<meta property=\"og:description\" content=\"LIC and Crystal City were chosen for the Amazon move as homes to its HQ2, but how will this affect apartment construction in both areas?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rentcafe.com\/blog\/rental-market\/long-island-city-and-crystal-city-expecting-an-apartment-boom\/\" \/>\n<meta property=\"og:site_name\" content=\"RentCafe rental blog\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-13T11:35:19+00:00\" \/>\n<meta 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