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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Brooklyn, NY Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Brooklyn, NY Housing Market Trends

With a population of 2,736,074, 985,108 total housing units (homes and apartments), and a median house value of $1,133,775, Brooklyn house prices are not only among the most expensive in New York, Brooklyn real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in Brooklyn, accounting for 53.39% of the borough's housing units. Other types of housing that are prevalent in Brooklyn include duplexes, homes converted to apartments or other small apartment buildings ( 32.47%), row houses and other attached homes ( 8.87%), and a few single-family detached homes ( 5.13%). Boroughs that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of boroughs are often walkable and compact, and often have a lively downtown.

Brooklyn is dominated by renter-occupied one, two, or no bedrooms apartments. 69.78% of Brooklyn's dwellings are rentals.

The housing in Brooklyn was primarily built before 1939 ( 49.91%), making the housing stock in Brooklyn some of the oldest overall in America, although there is a range of ages of homes in Brooklyn. The next most important housing age is between 1940-1969 ( 28.62%), followed by between 1970-1999 ( 11.36%). There's also some housing in Brooklyn built between 2000 and later ( 10.11%).

Brooklyn Home Appreciation Rates

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 94.13%, which ranks in the top 40% nationwide. This equates to an annual average Brooklyn house appreciation rate of 6.86%.

NeighborhoodScout's data show that during the latest twelve months, Brooklyn's appreciation rate, at 4.65%, has been at or slightly above the national average. In the latest quarter, Brooklyn's appreciation rate has been 3.21%, which annualizes to a rate of 13.46%.

Relative to New York, our data show that Brooklyn's latest annual appreciation rate is higher than 60% of the other cities and towns in New York.

One very important thing to keep in mind is that these are average appreciation rates for the borough. 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.

Average Home Values

Median Home Value

$1,133,775

Brooklyn, NY Home Prices
> $1,287,000
$965,001 - $1,287,000
$644,001 - $965,000
$515,001 - $644,000
$386,001 - $515,000
$258,001 - $386,000
$129,001 - $258,000
$64,001 - $129,000
$0 - $64,000
34.7%
34.7%
19.5%
19.5%
23.6%
23.6%
7.8%
7.8%
5.6%
5.6%
3.4%
3.4%
2.2%
2.2%
1.1%
1.1%
2.2%
2.2%
0% 100.0%
% of Homes
Very High

for New york

Very High

for nation

Number of Homes And Apartments:

985,108

Brooklyn Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,180 / per month

Homeownership Rate

Owners
Renters
Vacant
30.2%
30.2%
69.8%
69.8%
7.7%
7.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
10.1%
10.1%
11.4%
11.4%
28.6%
28.6%
49.9%
49.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
5.1%
5.1%
8.9%
8.9%
32.5%
32.5%
53.4%
53.4%
0.1%
0.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
6.3%
6.3%
27.2%
27.2%
34.7%
34.7%
22.4%
22.4%
6.3%
6.3%
3.2%
3.2%
0% 100.0%
% of Homes