It’s no secret that New York City is an expensive place to live — but how much has the price changed since 2010?
A new report by PropertyClub sought to find out just how high median prices in New York City neighborhood have climbed over the past decade. According to their findings, Brooklyn’s Cobble Hill had the biggest spike, skyrocketing from a median price of $1,150,000 in 2010 to $2,500,000 in 2019 — a 117% increase with a $1,350,000 price difference.
At number two in Manhattan’s TriBeCa. In 2010, the trendy neighborhood had median sale price of $1,914,349, but by 2019, it shot up to $3,085,000. While it was only a 61% increase overall, the $1,170,651 price difference secured its place on the list.
The Fashion District in Manhattan found its way to the bronze medal in the study, having the third highest figure. While the area had a median selling price of $900,000 in 2010, the price skyrocketed to $1,872,500 in 2019, marking a $972,500 (or a 108%) increase over those ten years.
Brooklyn’s Greenpoint landed on the number four spot on PropertyClub’s list with their median price of $549,500 in 2010 boosting up to $1,439,253 in 2019. The $889,753 marked at 162% increase for the neighborhood over the past ten years.
Coming in at number five is Manhattan’s Lower East Side. With a median selling price of $610,000 in 2010, the price shot up to $1,396,966 in 2019, marking a $786,966 price increase, or a 132% increase overall.
Read the full report at propertyclub.nyc.
