Until it became a New York borough, Brooklyn used to be an independent city. Yet, it managed to conserve its authenticity. Many young people and artists have come to Brooklyn and brought a cosmopolitan and unconventional lifestyle. With all the popularity Brooklyn has achieved, the prices have increased. Real estate in some areas exceeds prices in Manhattan, the most expensive borough in New York. Also, the cost of living throughout Brooklyn has risen considerably. The character of the borough changed due to the inrush of well-to-do residents and prosperous businesses. Nevertheless, Brooklyn continues to attract families, young people, and entrepreneurs. If you are looking for a place that will suit your needs and budget, here are some of the Brooklyn neighborhoods ranked by the cost of living.
This prime location allows you to quickly arrive to Downtown Brooklyn and Manhattan. Famous for its brownstone streets, family restaurants, and shops, this quiet neighborhood offers a sophisticated and comfortable lifestyle. This residential area is well-known for its exceptional schools and safety, which makes it very attractive for families with children. The average home purchase price is approximately $1,500,000, while the average monthly rent is around $2,000. Are you planning to move and need a temporary short-term or a long-term space to keep your household items safe between homes? Your belongings’ safety is crucial so finding a secured, reputable and nearby storage is the best solution for you.
This rapidly changing neighborhood used to be known as an artistic area with low rents, but the prices have been rapidly rising. Warehouses have been turned into amazing lofts and creative spaces. Quiet streets, parks, and playgrounds greatly attract families. The average home purchase price is approximately $1,300,000, while the average monthly rent is around $3,500.
One of the largest business centers in New York City, Downtown Brooklyn is well-known for its office buildings, courthouses, and residential buildings. The area has been undergoing a transformation with huge private and public investments. The education sector is also growing rapidly. The spacious green area is great for family picnics, recreation, and sports activities. The average home purchase price is approximately $700,000, while the average monthly rent is around $2,500.
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This Brooklyn’s fanciest neighborhood is perfect for those who want the convenience of Manhattan but with lower prices and more space to raise a family. Brooklyn Heights owns the distinctive character and friendly charm with an atmosphere of historic New York. Playgrounds, the East River boardwalk, and parks provide a great environment for relaxation and fun. The average purchase price for a home is around $1,300,000, while $2,000 is an average monthly rent.
This neighborhood, full of contradictions, today is considered the hippest place in New York. It is a very popular neighborhood among young professionals. There is a huge number of converted and renovated warehouses. With high rises mixed with residential space, this neighborhood is very socially and ethnically diverse. The average home purchase price is approximately $900,000 while the average monthly rent is around $2,300.