- According to StreetEasy, the average New York City starter home costs between $400,000 and $800,000.
- According to the real estate market, NYC’s start-up homes have decreased by 9% over three years.
- Manhattan’s median square footage now equals that of four-and a half parking spots.
New York City is known for having buyers who will pay more for smaller homes, but the typical Manhattan starter home is becoming smaller.
According to a Wednesday report from StreetEasy, starter homes in New York — ranging from $400,000 to $800,000 — They have declined in size by 9% from the summer of 2019.. Manhattan homes are still the smallest, despite the fact that Queens and Bronx have seen their first homes shrink the most.
A Manhattan home’s median square footage is 686 sq. feet. It has roughly four-and a half parking spaces. StreetEasy estimates that Brooklyn has 924 square footage, which is slightly more than Manhattan.
Even though Manhattan’s space is limited, buyers can still take comfort knowing that the price per square foot is significantly lower than it was five years ago. Since 2017, prices have fallen by almost half — from $1,775 to now $942.
Here are some StreetEasy examples of what you might find when you search for a home to start your New York City residency.
