Originally posted on November 24, 2021 @ 6:00 am
Last Updated on May 31, 2022 by inckredible
We’ve compiled a list of the richest neighborhoods in New York City. Renting houses, apartments, lofts, and other buildings in these neighborhoods can be quite pricey and require forking out a huge amount of money. There are several good things about these areas, the most prominent benefit being that these neighborhoods are extremely safe to live in.
Other upsides to them are the fact that you can include everything you could possibly need in your daily life within a mile’s distance, and the neighborhoods are pleasant to walk through all the same. The richest neighborhoods in New York City are almost entirely based in Manhattan. Some of them are completely surrounded by towering skyscrapers, while some others are calmer, quieter, and give a very serene feel.
You can rest assured that renting or buying a place in any of these neighborhoods is totally worth it, as there isn’t a single one of these neighborhoods that isn’t worth every penny of the expenditure. Even if you don’t have a place in any of these neighborhoods, they are such great places they are actually worth going to see, just for their buildings and several structures and to admire their magnificent architecture and well-preserved estates.
1. Hudson Yards
This neighborhood has a mean household income of $185,556 and a median household income of $112,464. Some of the most desirable zip codes in the city may be found in this huge area. As a result, it’s no wonder that the neighborhood is home to some of New York City’s wealthiest citizens. Hudson Yards – the most expensive real estate development in US history, is a $25 billion neighborhood in New York.
Residences in its upscale condominium buildings range in price from $4.3 million to $32 million. Chelsea’s art galleries, luxury high-rise condos, and upscale restaurants continue to draw some of New York’s most affluent residents. The Flatiron District and Union Square, which connect Downtown and Midtown Manhattan to the east, are still bustling districts.
This neighborhood has a mean household income of $258,531 and a median household income of $124,863. Tribeca is a place in lower Manhattan, and the name is actually an anagram that stands for “Triangle Below Canal Street.” It was initially written TriBeCa to underline the initials of its meaning. The neighborhood is a part of Manhattan Community District 1, and it hosts the Tribeca Film Festival annually as a remembrance of the 11th September attacks on the twin towers. Tribeca has consistently ranked as the most expensive zip code in the city.
Tribeca is perhaps the wealthiest neighborhood on its own. Jennifer Lawrence, Taylor Swift, and Steven Spielberg have all visited this celebrity destination. A house here will set you back a lot of money, with the median condo sale price reaching $3,950,000.
SoHo stands for South of Houston Street, and its geographical location is in lower Manhattan. SoHo is included in the SoHo–Cast Iron Historic District, which is listed on the National Register of Historic Places. This neighborhood has a mean household income of $258,531 and a median household income of $124,863.
The typical price of a Soho condo will be $5,918,000. With a typical sales price of $1,625,000, SoHo co-ops are the most economical option. This place attracts many elites and millionaires with its friendly environment. And it remains one of the most expensive neighborhoods in New York City.
4. Little Italy
This neighborhood, like SoHo and Tribeca, also has a mean household income of $258,531 and a median household income of $91,061. Also located in Manhattan, this is a very serene place to live in New York City. Soho, Tribeca, Nolita, and Chinatown, on the other hand, border Little Italy, often known as Piccola Italia.
The place is packed with Italians, and for what it’s worth, even if you don’t live there, you can definitely get a taste of some of the tastiest pizza in the entire city. A condo in Little Italy will cost you about two million dollars. However, it remains the best place in New York City to experience the rich Italian culture.
5. Flatiron District
This neighborhood has a mean household income of $185,556 and a median household income of $112,464. Some of the most desirable zip codes in New York City may be found in this huge area. As a result, it’s no wonder that the neighborhood is home to some of New York City’s wealthiest citizens. Flatiron District, one of the most expensive real estate development in US history, was named after the iconic triangular Flatiron building from 1902 and is a neighborhood worth billions of dollars in New York.
Residences in its upscale condominium buildings range in price from $4.3 million to $32 million. Its art galleries, luxury high-rise condos, and upscale restaurants continue to draw some of New York’s most affluent residents. The Flatiron District is a bustling district.
The median sales price was $1,125,000, up 20% from the previous year, but transactions were down 27%. Neponsit is quite similar to Malba and presumably indicates a similar trend: fewer sales (also 11) in a small area. However, prices had risen by 20%, and all of the properties were residences.
Affluent Neponsit, a small sliver in the Rockaways near Belle Harbor, is a low-density region of one- and two-story houses. With Sheepshead Bay to the north, the Atlantic Water to the south, and popular Jacob Riis Beach on the western border, the ocean and a breezy, beachy lifestyle are the main draws here. Prices in the area are pushed up by the area’s location and lack of inventory.
7. West Village
This time, the gem belongs to Manhattan Community District 2, finally taking the attention off the other districts. Greenwich Village’s West Village is located near the Hudson River and Houston Street. Not particularly affordable, with residential property sales prices hovering around $2,100 per square foot. What we like about this location is that, while being in the heart of New York City, it maintains a strong historical presence.
The area’s residential growth began in the early 1980s, and this is how it got its name. It was known as “Little Bohemia” in 1916 and was a notable marker on the map of American bohemian culture. The Gansevoort Market Historic District, Weehawken Street Historic District, and Greenwich Village Historic District Extension I are all artistic and vibrant in the West Village.
8. Carnegie Hill
Carnegie Hill is located between 86th Street on the south and 98th Street on the north and is part of Manhattan Community District 8. The area was named after Andrew Carnegie, a prominent philanthropist and industrialist who also sponsored the Carnegie Institute of Technology in Pittsburg. It’s also close to the Upper East Side, which is a very wealthy neighborhood in New York City.
It is a delight to wander through the streets of this region, which are lined with some of the most expensive boutiques and restaurants. According to demographic data, the majority of the residents are white Americans. This neighborhood has a mean household income of $322,439 and a median household income of $168,889.
9. Pelham Gardens
The median price of condos in Pelham Gardens is $580,000, and that is a 5% increase from last year and a 2% increase in transactions. Pelham Gardens, the most expensive Bronx neighborhood last year, is now ranked third this year. Things were constant in one of the borough’s smaller areas, with no large swings in any metric. In 2020, all of the sales were for houses.
Pelham Gardens is another area with a suburban atmosphere, with single-family and two-family homes, some new and others older. (The five rail stops twice on the western border, but a car would be more convenient.) Eastchester Road is the primary shopping highway in the neighborhood, while big box stores like Aldi and Home Depot can be found along Gun Hill Road to the east.
10. Cobble Hill
This neighborhood has a mean household income of $205,275 and a median household income of $125,817. Cobble Hill, Brooklyn, features “one of the city’s greatest collections of nineteenth-century residences,” according to The Encyclopedia of New York. Regardless, it contains some of the most expensive homes in the country, with an average home price of $1,258,134.
Fortunately, residents have a high enough median income ($131,817 at the time of writing) to have money left over after paying their bills. Many families and young professionals flock to these streets as a result of the new condo buildings and townhouse refurbishment. According to StreetEasy, the median sale price is roughly $1,200,000, and the median rent is $3,097.
11. Greenwich Village
If you have $951,089 lying around the house collecting dust, you should consider investing it in a Greenwich Village property. It may have formerly been the hangout of up-and-coming folk singers, but these days, you’re more likely to meet a rich businessman than an idealistic young dropout at its coffee shops.
If you decide to relocate, you can expect a 2.8 percent unemployment rate, a crime rate of 5018 per hundred thousand, and an average household income of $121,594. Greenwich has a very favorable environment, and the neighborhood is peaceful almost all the time, bar a few mishaps once in a while.
12. Turtle Bay
This neighborhood has a mean household income of $220,079 and a median household income of $130,974. With names like Grand Central Terminal, the Chrysler Building, the United Nations Headquarters, and Trump Tower, you know this is a desirable location. Thanks to its diversified housing stock of beautiful brownstones and contemporary residential high-rises, it’s an affluent neighborhood that’s also relatively inexpensive.
Prices range from $3,000 for a one-bedroom apartment to multimillion-dollar penthouses. The median condo sale price was $1,475,000, and the median co-op sale price was $728,000.
13. Lincoln Square
This neighborhood has a mean household income of $212,844 and a median household income of $127,424. This haven of appealing aesthetics can be found in Manhattan Community District 7. The well-known studios for WABC-TV and ABC Television Center East are located in Lincoln Square, which covers the square and the adjacent neighborhood.
It is illuminated at night, making the skyscrapers that are close together appear to be giants. Barbara Hillary, the first African-American woman to set foot on both the North and South Poles, has a residence there. Central Park and the New York Institute of Technology are also nearby. The park is a popular destination for tourists who want to view squirrels and locals who want to run.
14. Lighthouse Hill
The median price of condos in Lighthouse Hill is $935,000. Despite the fact that Lighthouse Hill had the fewest transactions, it had the most remarkable gains. Indeed, it is the area with the highest increase in median sales price, demonstrating the allure of avoiding a pandemic here.
The Staten Island Range Lighthouse, which is located on Staten Island’s southernmost hill, is home to a lighthouse that still aids ships in navigation. Views of the Lower Bay and beyond are available from this vantage point.
There are several wonderful houses here in many architectural styles, including the lone Frank Lloyd Wright house in New York City. The Jacques Marchais Museum of Tibetan Art is in this neighborhood, historic Richmond Town is to the southwest of the neighborhood, and the Staten Island Greenbelt, the borough’s popular park network, and nature preserve, is to the north of the neighborhood.
15. Battery Park City
This neighborhood has a mean household income of $203,548 and a median household income of $149,119. Battery Park City, once a landfill, has evolved into a thriving community throughout the course of its 50-year history. Brookfield Place, a commercial district with five office towers and a retail area with 40 high-end retailers and six restaurants, including La District, a French food hall, and a market, is a particularly vibrant component of the neighborhood.
Families and senior folks love the neighborhood because of its off-the-grid atmosphere and wide spaces. Although the prices are higher than in other districts of the city, many locals believe they are worth it. The median listing price, according to Zillow, is $1.177,500, with a median rent of $4,000.
16. Carroll Gardens
This neighborhood is part of the historic Brooklyn Brownstone district, where housing values are very high in comparison to neighboring neighborhoods. It is also a well-known neighborhood that has appeared in films such as The House on Carroll Street and Julie & Julia. Carroll Gardens has a median sale price of $1.9 million and an average rent of $2,500 per month.
You can organize a day trip to the neighborhood to see what it has to offer. This is definitely an amazing place to live as long as the money is available, and it is still one of the most expensive neighborhoods in New York City.
The median sales price was $750,000, up 1% from 2020, but transactions were down 11% in 2020. Grasmere is another small location with little activity – there were only 17 transactions this year, down from 19 in 2020. Apartment buildings, as well as single-family homes and townhouses, give this area a suburban atmosphere.
It’s a good site for commuters because it has a Staten Island Railway station and is close to the Verrazano-Narrows Bridge. The Staten Island Advance, the borough’s newspaper, is based there. Brady’s Pond, a freshwater pond owned and administered by the Cameron Club of Staten Island, is a neighborhood gem where residents can swim, boat, and relax on a sandy beach.
18. Upper East Side
Fancy living in a neighborhood with one of the world’s largest density of famous museums (think the Museum of the City of New York and the Metropolitan Museum of Art, as well as the Goethe-Institut, New York El Museo del Barrio Whitney, Museum of American Art Society of Illustrators, and Irish Georgian Society)? Then you might want to start looking at Upper West Side home listings in New York.
Before you go, keep in mind that the median dwelling price in this desired area is a whopping $916,352. Upper East Side is considered by many people to be one neighborhood with Carnegie Hill since the borders are not clear. It is still one of the most expensive neighborhoods in New York City.
19. Brooklyn Heights
This neighborhood has a mean household income of $205,275 and a median household income of $125,817. Surprisingly, this neighborhood can’t be found in Manhattan; rather, it is in Brooklyn. In recent years, a neighborhood that has seen substantial reconstruction, Brooklyn Heights is one of Brooklyn’s most desirable neighborhoods, known for its exquisite brownstones and stunning views of the East River.
The current median listing price in this area is $1,375,000. Many families and young professionals flock to its laid-back streets as a result of new condo buildings and townhouse renovations. This is definitely an amazing place to live as long as the money is available.
20. Morris Park
The median sales price was $580,000, up 8%, with transactions down 29% in 2020, according to official statistics. Located in the heart of the borough, this neighborhood is primarily made up of one- and two-family homes. It’s south of Pelham Parkway and east of the popular Bronx Zoo.
It’s built on the site of a former racetrack and airfield, and it’s less densely populated than the neighboring neighborhood, giving it a more intimate atmosphere. The Albert Einstein College of Medicine and Jacobi Medical Center is also located in the region. The low crime rate and other benefits make it an ideal neighborhood.
Dumbo changed places with Cobble Hill as the only costly Brooklyn market on our list, where all deals include condos. While the number of sales decreased, the median transaction price increased by 8%. Dumbo is similar to Tribeca in that it features remodeled industrial areas, spectacular views, and an excellent waterfront location.
It has the same vibe due to IT startups and stylish tourists standing in front of renovated warehouses on cobblestone alleyways. It’s also near to adjacent Brooklyn Heights’ magnificent architecture and ancient brownstones. It also houses the world-famous Brooklyn Bridge Park. However, it lacks convenient public transportation; the neighborhood is served exclusively by the F train, which stops at York Street on the area’s southern side.
Finally, although the tremendous damage inflicted by Hurricane Sandy prompted developers and businesses in Dumbo to adapt structures or rethink plans to protect against floods and water damage, the neighborhood remains vulnerable. The median sales price stands at $1,625,000.
22. Upper West Side
Upper West Side has an average household income of $105,432 and a mean household income of $190,281. The UWS, like the UES, is a wealthy, largely residential neighborhood that is home to some of the city’s wealthiest citizens. It is home to many celebrities, including Jerry Seinfeld, Al Sharpton, and Mark Ruffalo. While the area has a diverse choice of housing options to suit a wide range of income levels, the qualification standards are generally high.
In addition, while the Upper East Side has the largest percentage of residents with household incomes of $200,000 or more, it also has the highest total number of ultra-wealthy residents. As many as 18,000 people live here with a household income of more than $200,000. The median condo sale price was $1,466,000, and the median co-op sale price was $975,000.
23. Sutton Place
Sutton Place has an average household income of $147,814. It is a lovely little neighborhood of 17,279 people with first-notch amenities, a low crime rate, great school facilities, and some of New York’s most costly real estate. The average property valuation in Sutton Place is roughly $763,965 (though, happily, the average household income of $147,814 is high enough to cover the sky-high mortgage repayments without too much difficulty).
It still remains an expensive neighborhood in New York City, and only the rich can afford to live in this area conveniently. The low crime rate and other benefits make it an ideal neighborhood.
The median sales price was $1,350,000, with transactions down 27% but a 23% increase in the median price. While it may appear that activity in this posh neighborhood along the East River has plummeted, the reality is that sales have dropped from 15 to 11; since there aren’t many sales to begin with, little adjustments have a tremendous impact on the data. Not only did Malba reclaim the top rank in Queens, but the median sales price jumped by over 25%, the biggest rise in the city.
Malba, an upscale area of Whitestone, is notable for its huge houses, dubbed “mansions” by locals. (Some refer to them as “McMansions.”) In 2020, all 11 sales were for houses. When folks in Malba aren’t buying enormous houses to live in, they’re pulling them down and starting again with their own waterside paradise.
25. Gramercy Park
This neighborhood has a mean household income of $185,536 and a median household income of $116,908. Gramercy Park has historically been a gated community for some of New York’s wealthiest citizens. Only inhabitants of the neighboring buildings, hotel guests, members of nearby clubs, and religious institutions have access to the park.
On Christmas Eve, though, it is open to the public for free. Aside from the park, this small area has a small-town character, with quirky stores and quiet eateries, making it a popular hangout for celebrities, artists, and anybody else who can afford it. The median listing price, according to Zillow, is presently $985,000.
New York City is home to a slew of wealthy and influential individuals.” According to new research from data firm, Wealth-X, it has more wealthy people than any other city on Earth, with about 1 million people.” In this context, “wealthy” is defined as someone with a net worth of between $1 million and $30 million. You can be comfortable that renting or purchasing a home in any of these neighborhoods is a great investment, as there isn’t a single one of them that isn’t well worth the money with their high level of security and high-class living.