What’s the best place to buy a house in New York City? We break it down by neighborhood.
New York City has long been known as one of the best places to live in the world — but it’s also one of the most expensive cities to buy property in. However, that doesn’t mean there aren’t good deals to be had; if you know where to look, you can get yourself into an affordable home with plenty of room to expand in one of the city’s most desirable neighborhoods.
Where you should stay if you’re single
So, you’re moving to NYC and ready to find your own place—great! But where should you live once you do?
Where you should stay if you’re working on Wall Street
Manhattan and Brooklyn are easily accessible from many international airports, but for those who frequently fly in and out of LaGuardia or JFK, you may want to choose a home that is located further away from your office—or at least closer to public transportation. If you’re living on Manhattan’s Upper East Side (e.g., zip code 10021), then you can hop on an M60 bus or an N Q-32 bus right outside your apartment and make your way into work easily.
Where you should stay if you’re starting out
The cheapest neighborhoods are on Manhattan’s Lower East Side and Upper West Side, where you can find apartments for $50,000 and less than $400 per month respectively. These neighborhoods also provide access to transportation, shopping, schools and hospitals. However, if you do choose one of these areas for your first home purchase in NYC, be aware that some landlords will still require board approval before giving you a lease for their apartment units.
Where you should stay if you’re looking for more community
If you’re more interested in living near your neighbors, try Williamsburg or Bushwick. They both have populations greater than 100,000 and can feel like small cities with regard to their density of housing and amenities, notes O’Leary—though you’ll be trading proximity to subway lines for distance from Manhattan at those locations.