Brooklyn, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Brooklyn Neighborhoods Since 2000




Brooklyn, NY Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Brooklyn Housing Market Information

With a population of 2,619,637, 931,786 total housing units (homes and apartments), and a median house value of $739,437, 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 50.72% 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 ( 35.32%), row houses and other attached homes ( 8.43%), and a few single-family detached homes ( 5.32%). 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. 71.17% of Brooklyn's dwellings are rentals.

The housing in Brooklyn was primarily built before 1939 ( 51.31%), 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 ( 30.93%), followed by between 1970-1999 ( 10.95%). There's also some housing in Brooklyn built between 2000 and later ( 6.81%).

Brooklyn Home Appreciation Rates

In the last 10 years, Brooklyn has experienced some of the highest home appreciation rates of any community in the nation. Brooklyn real estate appreciated 26.46% over the last ten years, which is an average annual home appreciation rate of 2.38%, putting Brooklyn in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Brooklyn definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Brooklyn that despite a nationwide downturn in the housing market, Brooklyn real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Brooklyn appreciation rates continue to be some of the highest in America, at 7.84%, which is higher than appreciation rates in 85.94% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Brooklyn. Brooklyn appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New York, our data show that Brooklyn's latest annual appreciation rate is higher than 90% 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:
$739,437

Brooklyn, NY HOME PRICES

Value Range
> $1,251,000 13.1
$938,001 - $1,251,000 15.4
$625,001 - $938,000 30.8
$500,001 - $625,000 14.3
$375,001 - $500,000 11.7
$250,001 - $375,000 6.9
$125,001 - $250,000 3.8
$63,001 - $125,000 1.8
$0 - $63,000 2.2

Very High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
2.35556076409235 6.95847362514029

Number Of Homes And Apartments:
931,786

Brooklyn Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
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
Since 2000:
2000 Q1 - 2017 Q1
159.43% 5.68% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,725 / per month

Homeownership Rate

Homeownership
Owners 28.83
Renters 71.17
Vacant 8.40

Housing Market Details

 

Age of Homes

AGE OF Brooklyn HOMES
2000 or Newer 6.8
1970 - 1999 11.0
1940 - 1969 30.9
1939 or Older 51.3

Types of Homes

TYPE OF Brooklyn HOMES
Single-Family 5.3
Townhomes 8.4
Small Apt. Buildings 35.3
Apt. Complexes 50.7
Mobile Homes 0.1
Other 0.1

Home Size

SIZE OF Brooklyn HOMES
No Bedroom 6.14
1 Bedroom 28.66
2 Bedrooms 34.56
3 Bedrooms 22.07
4 Bedrooms 5.46
5 or more bedrooms 3.11