The Most Expensive Neighborhoods in NYC

As you probably expect, most rich New Yorkers live in Manhattan.

Overall, over half of the 50 richest NYC neighborhoods are in Manhattan, including the top 15, while Brooklyn is home to 19 of the city's priciest nabes, and Queens and Staten Island are home to 5 and 1, respectively.

NYC Most Expensive Neighborhoods 2022 Highlights

Below, you'll find our list of the most expensive neighborhoods in NYC, based on property sales from January 1, 2021, to January 1, 2022. Key Findings include the following:

• Noho is the most expensive neighborhood in NYC, with a median sales price of $3,250,000. 

• Over half of NYC's priciest neighborhoods are in Manhattan, including the 15 most expensive.

• 19 Brooklyn neighborhoods made our list, the most expensive of which was Cobble Hill, with a median sales price of $1,640,000. 

• 5 Queens neighborhoods are amongst the most expensive in NYC.

• Todt Hill is the only Staten Island neighborhood to make the list, coming in tied for 36th priciest, with a median sales price of $1,150,000.

• The median sales price in NYC is $700,000, with Manhattan being the most expensive borough at $1,160,000 and Bronx being the most affordable at $519,000.

The 50 Most Expensive Neighborhoods in NYC 

The 10 most expensive NYC neighborhoods are all located in Manhattan, including Noho, the most expensive place to live in NYC. Prices in Noho were higher than usually thanks to a flurry of luxury new development sales at condos like 40 Bleecker Street.

The most expensive neighborhood outside Manhattan is Brooklyn's Cobble Hill, which comes in at number 16.

While it's only the 26th most expensive neighborhood in NYC and the 7th most expensive neighborhood in Brooklyn, Park Slope had over $750 million in sales volume, more than all other Brooklyn nabes.  

Tied for 36th with a median sales price of $1,150,000 are the most expensive neighborhoods in two boroughs. The most expensive neighborhood in Queens is Ditmars Steinway, while the most expensive neighborhood in Staten Island is Todt Hill. 

Noho is the Most Expensive Neighborhood in NYC

With a median sales price of $3.25 million, Noho in lower Manhattan is the most expensive neighborhood in NYC. It was closely followed by Hudson Yards and Tribeca, which have consistently been amongst the richest neighborhoods in NYC. The median sale price in Hudson Yards was just over $3.2 million, while in Tribeca it was $3.15 million.

Rounding out the 5 most expensive NYC neighborhoods were Central Park South, which is home to billionaires row, and the Theatre District, both of which had median sale prices above $3 million.  

19 Brooklyn Neighborhoods Amongst NYC's Most Expensive 

While 2020 was a tough year for Manhattan real estate, many New Yorkers flocked to Brooklyn, where the market remained hot. 19 Brooklyn neighborhoods made our list, including Cobble Hill, the most expensive nabe in the borough, where prices averaged $1,640,000. Prices were also above $1.5 million in Carroll Gardens and Boerum Hill. 

Borough-wide, the median sales price in Brooklyn was $900,000.  

The Most Expensive Neighborhoods in Queens are Ditmars Steinway, Malba, and Hunters Point

Queens' most expensive neighborhood was Ditmars Steinway, where the median price was $1,150,000. It was followed by Malba, a residential hamlet on the North Shore, where prices averaged $1,070,000. Rounding out the top 3 was Long Island City's Hunters Point neighborhood, which with a median selling price of $1,025,000 was the 43rd most expensive neighborhood in NYC. 

Todt Hill is the Most Expensive Neighborhood in Staten Island

Staten Island's richest neighborhood was Todt Hill, where the median price was $1,150,000. Todt Hill was the only Staten Island nabe to make our list, coming in tied for the 36th most expensive NYC neighborhood. Emerson Hill narrowly missed out on making the list as it was the 56th priciest neighborhood in the city with a median sales price of $965,000. 

NYC Real Estate Median Sales Prices

The median sales price in New York City is $700,000. Manhattan has the most expensive real estate in the city and most of the richest areas, followed by Brooklyn. The Bronx is the most affordable borough in NYC. 

Methodology 

We looked at all recorded closed sales for residential property in NYC. Only neighborhoods with at least 10 sales were included on the list. A notable omission due to a lack of transactions is Little Italy.