In many other places within the United Sates, one could live a life a luxury for $500 per square-foot, however, such is not the case in New York City, the nation’s second most expensive city to live in. A study by PropertShark shows that it’s nearly impossible to find homes priced under $500 per SF in Manhattan while options are available in the other boroughs, mainly the Bronx and Staten Island. The study found that in Manhattan, every zip code except for Harlem’s 10032 zip code is priced well above $500/square-foot and even well beyond $1,000/square-foot. Brooklyn was only slightly better, with just a handful of locations offering prices below $500/square-foot. Neighborhoods in the eastern section of the borough had the most affordable options, while everything near the western waterfront was expensive. When it came to Queens, affordable options improved, however, the study found that there still still only a select number of zip codes in to choose from and most of them were located in the northern and southern parts of the borough.
The Bronx and Staten Island were the two boroughs where you can purchase a home for under $500/square-foot in every zip code. In the Bronx, it’s easy to spend no more than around $200/square-foot and even less in neighborhoods like Hunts Point, Longwood, and Foxhurst. Staten Island was found to have the most budget-friendly listings and price per-square-foot are just above $300 in the bulk of the borough’s neighborhoods.Share