Planning on moving this year? If so, you might want to consult StreetEasy's annual list of New York City neighborhoods to watch out for.
Always reflecting evolving trends, this year's survey actually looks pretty different from 2021's, when Brooklyn dominated the list. Although still heavily featured, no neighborhood in the borough seems to be as "hot" as Manhattan's SoHo, which ranks in at number one likely in part to a now-under-review proposal that would rezone the neighborhood to expand housing opportunities.
Before we delve into the results of StreetEasy's study, a note about how the list is actually generated. According to the site, "the neighborhoods to watch for 2022 [are defined] as areas that saw the greatest surge in interest among buyers, renters and sellers in 2021, gearing them up for continued interest this coming year." Specifically, the real estate destination looks at three separate factors: increases in sales prices, rents and user searches year-over-year.
Here is the top ten list:
1. SoHo, Manhattan
2. Dumbo, Brooklyn
3. Greenwich Village, Manhattan
4. Red Hook, Brooklyn
5. Gowanus, Brooklyn
6. Flatiron, Manhattan
7. Bushwick, Brooklyn
8. Kew Gardens Hills, Queens
9. Fort Greene, Brooklyn
10. Fordham, Bronx
Unsurprisingly, the most sought-after neighborhoods in Manhattan are also the most expensive to live in and access to the main part of town still seems to be relevant when choosing to live in outer boroughs (Dumbo and Fort Greene in Brooklyn, for example, are relatively easy to get to from midtown Manhattan.)
However, shifting lifestyles caused by the ongoing pandemic have clearly directly affected the annual list as well. Bushwick, for example, which was at number nine last year and lands at number seven in 2021, is farther from Manhattan than Williamsburg is—a neighborhood that, to our surprise, didn't even make it in this year's top 10.
If you're shocked to see Gowanus smack-dab in the middle of the list, consider that a massive rezoning plan involving the neighborhood was recently approved. Adding 8,500 new apartments to the area by 2035 (including 3,000 affordable units) has clearly catalyzed an interest in potential movers.
When looking outside of Manhattan and Brooklyn, only two regions made the list: Kew Gardens Hills in Queens and Fordham in the Bronx. Both are home to universities that are open for in-person classes, a fact that might explain their respective placements.
Suddenly, all those essays regarding the imminent "death of New York" make us laugh. We're back and better than ever—as our real estate shows.