• In its calculations, StreetEasy assessed income data, mortgage-to-income ratios, down payment and mortgage interest rates.
  • The largest number of listings at this price point in 2015 were in Brooklyn, comprising 29.6 percent of the market, followed by Manhattan, which covered 23.1 percent of the market.
  • Riverdale had 1,087 listings in 2015 to fit the first-time buyer budget, 98 percent of which were co-op units.
  • The second-best neighborhood for first-time buyers is Sheepshead Bay, Brooklyn, with 702 affordable listings, followed by Forest Hills, Queens with 553 affordable listings.

Luxury Connect
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As an agent working in one of the priciest markets in the country, helping first-time buyers in New York City find properties in their price range can be tricky. To help, StreetEasy calculated the best neighborhoods for an average NYC first-time buyer in 2016. In its calculations, StreetEasy assessed income data, mortgage-to-income ratios, down payment and mortgage interest rates. All accounted for, StreetEasy found that the typical first-time homebuyer in NYC can afford a home costing $524,050.The largest number of listings at this price point in 2015 were in Brooklyn, comprising 29.6 percent of the market, followed by Manhattan,  which covered 23.1 percent of the market. In Queens, 22.9 percent of listings fell at or below the first-time homebuyer price point. The two boroughs w...