Brooklyn, NY is one of the most expensive places to buy a house in the United States. The median value of housing in Brooklyn is $884,000, which is more than double the US median value of $338,100. While the US saw an appreciation rate of 8.27% for houses over the last year, the appreciation rate in Brooklyn was lower at 5.12%. Despite this lower rate of appreciation, it remains an attractive option for many people looking to purchase a home in an affluent area with access to great amenities and entertainment options.
The median home cost in Brooklyn is $884,000. Home appreciation the last 10 years has been 71.7%. Home Appreciation in Brooklyn is up 4.0%.
Average Age of Homes
- The median age of Brooklyn real estate is 78 years old
The Rental Market in Brooklyn
- Renters make up 64.4% of the Brooklyn population
- 2.1% of houses and apartments in Brooklyn, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.