Two areas of Brooklyn join the big leagues of mega earners yet poverty persists next door
You knew it was happening: Here's the proof.
Brooklyn is now home to two of the highest-income neighborhoods in the city, according to a new analysis of census tracts by the Independent Budget Office.
In 2000, nine of the 10 richest tracts -- based on median household income -- were in Manhattan and another was located in the Riverdale/Fieldston section of the Bronx.
But by 2011, DUMBO and Brooklyn Heights joined eight wealthy Manhattan districts, six of which are on the Upper East Side (and two in Battery Park City), according to a crunch of Census and American Community Survey Data by the IBO.
Analysts didn't determine if the newly posh areas were determined by an uptick in the fortunes of longtime residents or a result of gentrification that drove out the less affluent.
But "in the last 10 years, DUMBO has gone through a transformation," said Doug Turetsky, IBO chief of staff.
“There’s been a lot of high end construction there and it makes sense that those who can afford to live there,” would flock to the area, he said.
The wealthiest area in the city was (surprise!) on the Upper East Side, where households pull in a median of $247,200 per year. The poorest was in Coney Island, where median household income was a meager $9,500.
While wealth is geographically concentrated, poverty is much more dispersed, the study found. Five of the 10 poorest tracts were in Brooklyn (two in Brownsville, one in Fort Greene and another in Prospect-Lefferts Gardens), four were in the Bronx (two in Hunts Point and two in the Mott Haven-Bedford Park) and one in Midtown South.
Staten Island and Queens had none of the richest or poorest areas in the latest analysis of census tracts, which are made up of about 4,000 people per plot and do not conform to neighborhood boundaries.