clock menu more-arrow no yes mobile

Filed under:

These Five Neighborhoods Are Gentrifying The Most Right Now

New, 3 comments

Crain's real-estate infographics party, which we recapped in part earlier today, has another bit of wisdom to impart. They compared the median home prices of every neighborhood in the five boroughs from June 2013 to June 2014, plucking out the neighborhoods where the property prices increased the most.

5) Let's start with the fifth-largest jump. In Hamilton Heights, the home price jumped from $503,200 to $639,400. That's an increase of 27.1 percent.

4) In June 2013, the median price for a home in Bed-Stuy was $500,700. A year later, it was $638,500, a 27.5 percent increase.

3) Next, a dark horse not often mentioned in these parts: Borough Park. Its median home price leapt 28.3 percent, from $563,000 to $722,300.

2) The runner-up in the price-increase game is Washington Heights. There, the median home price went from $420,700 to $541,700, which amounts to a 28.8 percent jump.

1) Who were we kidding? Of course the, um, winner is Bushwick. With an increase of 31.2 percent, the neighborhood saw its median home price rise from $427,200 to $560,000. Guess the take-home message is... buy while you can?
· Hot and Cold 'Hoods [Crain's]
· Grasp New York's Residential Boom In Just Two Handy Charts [Curbed]
· All Bushwick coverage [Curbed]
· All Washington Heights coverage [Curbed]
· All Borough Park coverage [Curbed]
· All Bed-Stuy coverage [Curbed]