Do you live in one of NYC's hottest neighborhoods?
The online real estate marketplace released a study based on increases in sales prices, rents, and user searches year-over-year to find the areas that saw the greatest surge in interest among buyers, renters, and sellers in 2021, gearing them up for continued interest this coming year, it said.
Below are the top 10 hottest NYC neighborhoods for 2022:
10. Fordham, Bronx
9. Fort Greene, Brooklyn
8. Kew Gardens Hills, Queens
7. Bushwick, Brooklyn
6. Flatiron, Manhattan
5. Gowanus, Brooklyn
4. Red Hook, Brooklyn
3. Greenwich Village, Manhattan
2. Dumbo, Brooklyn
1. Soho, Manhattan
Soho, Greenwich Village and Flatiron are back, baby! Thanks to the return of nightlife, shopping and restaurants after the shutdown, real estate is booming in these Manhattan neighborhoods, according to StreetEasy.
Soho saw a 48% increase in home searches in 2021 over 2020 and had the second largest annual rent growth in the city behind Flatiron, the report says.
Most of these Kings County areas have been at the top of the real estate game for years, however, Bushwick ranks higher now than Williamsburg, which didn’t even make the top 10. Last year it was No. 7 while Bushwick was No. 9. StreetEasy has a theory that the ability to work from home and the neighborhoods' growth have changed this:
"The New Yorkers who wish to live in, say, Bushwick or Gowanus may be seeking the creative vibe SoHo once had in terms of food, nightlife, and even people watching. Before COVID, these beloved Brooklyn neighborhoods were gaining traction. Gowanus and Red Hook, though, are a difficult commute for anyone who does not have easy access to the G or F trains. In fact, Red Hook was one of the only neighborhoods on our list where rents fell year-over-year. But sales prices rose so significantly—21%—that the neighborhood still made our list."
Two outliers on StreetEasy's list—Kew Gardens Hills, Queens, and Fordham, Bronx—seem to be popular because of their ample green space and parks. For those who don't need to commute into Manhattan and want more space, they're tops, says the site. Both are neighborhoods with universities situated in them, which has definitely led to an uptick in residential migration there. Although every neighborhood on the list is expensive, these two have median asking rents below $2,000.