Decade of Home Sale Price Changes Reveal a Very Divided New York City

Image 1
Gentrification Map

Real Estate research site Property Shark recently published an interesting article which analyzed the average home sale price in each City neighborhood over the past decade.

The map below reveals that, in reality, almost half of Brooklyn and Queens, together with several neighborhoods in Northern Manhattan show stagnation and even decreases in median home prices over the past decade (all values have been adjusted for inflation). This portrays New York City as a very divided metropolis, but not necessarily split between rich and poor, but rather between the wealthy and the middle class. The latter, no longer able to afford homes in the formerly classy-but-affordable areas are being pushed toward South Brooklyn or Queens.

Check out the full article for more analysis of the data.

Matt Coneybeare

Matt Coneybeare

Founder, Publisher and Editor-in-Chief

Matt enjoys exploring the City's food scene with his Wife and the outdoors with their three dogs. He is an avid marathon runner, and spends most of his time working from a treadmill desk at home.

Brought To You By...