Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 15,192 people, 1,129 houses or apartments, and a median cost of homes of $101,197, house prices in Brooklyn are solidly below the national average.
Single-family detached homes are the single most common housing type in Brooklyn, accounting for 63.95% of the town's housing units. Other types of housing that are prevalent in Brooklyn include row houses and other attached homes ( 25.41%), mobile homes or trailers ( 4.56%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.25%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Brooklyn. Owner-occupied housing accounts for 75.53% of Brooklyn's homes, and 67.55% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Brooklyn's housing was primarily built during this period, from the '40s through the '60s. A full 60.55% of the town's housing hails from this era. Other housing ages represented in Brooklyn include homes built between 1970-1999 ( 15.08%) and housing constructed before 1939 ( 14.70%). There's also some housing in Brooklyn built between 2000 and later ( 9.67%).
Vacant housing appears to be an issue in Brooklyn. Fully 10.66% of the housing stock is classified as vacant. Left unchecked, vacant Brooklyn homes and apartments can be a drag on the real estate market, holding Brooklyn real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Brooklyn have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.81%, which ranks in the top 30% nationwide. This equates to an annual average Brooklyn house appreciation rate of 1.12%.
Over the last year, Brooklyn appreciation rates have trailed the rest of the nation. In the last twelve months, Brooklyn's appreciation rate has been 0.74%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Brooklyn were at 0.56%, which equates to an annual appreciation rate of 2.24%.
Relative to Maryland, our data show that Brooklyn's latest annual appreciation rate is lower than 80% of the other cities and towns in Maryland.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Brooklyn differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Brooklyn - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Brooklyn real estate investment or home purchase decisions.
|$770,001 - $1,027,000||1.0|
|$514,001 - $770,000||0.6|
|$411,001 - $514,000||0.5|
|$308,001 - $411,000||1.8|
|$206,001 - $308,000||10.0|
|$103,001 - $206,000||24.3|
|$51,001 - $103,000||36.7|
|$0 - $51,000||24.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Brooklyn HOMES|
|2000 or Newer||9.7|
|1970 - 1999||15.1|
|1940 - 1969||60.6|
|1939 or Older||14.7|
|TYPE OF Brooklyn HOMES|
|Small Apt. Buildings||4.3|
|SIZE OF Brooklyn HOMES|
|5 or more bedrooms||3.89|