New York City is expensive, no doubt, with neighborhoods in Manhattan and Brooklyn typically making headlines as steepest markets in the nation. But according to a recent analysis from Point2 Homes, sister company of reporting tool PropertyShark, Queens is keeping up with its neighboring boroughs as the twelfth most expensive market in North America.
- The median sale price in Queens based on data from December 2015 was $369,000 – just surpassing Denver with $350,000.
- Brooklyn -- ranked the most inflated market in the U.S. based on income-to-housing ratio -- placed fourth in costliest cities on the continent with a median price of $620,000.
- Queens neighborhoods South Astoria, Ridgewood, Hunters Point and Long Island City featured 48 percent, 61 percent, 95 percent and 132 percent increases between 2005 and 2015.
- In yet another surprising finding, Brooklyn beat out Vancouver – a city notorious for unaffordability.
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Inman Connect New York | January 29 - February 1, 2019