And each year StreetEasy gathers together the top ten NYC neighborhoods to watch for, and 2024’s picks are in!
The top ten NYC neighborhoods to watch in 2024 are as follows:
To be considered a top neighborhood to watch, StreetEasy looks at those that saw the greatest increases in searches among buyers and renters the year prior. They only considered neighborhoods that were within the top 30% by search volume and had at least 100 for-sale and 100 for-rent listings on StreetEasy between January and November 2023.
The neighborhoods are then ranked based on three factors: increases in sales prices, rents, and user searches year-over-year.
Queens will reign supreme in 2024 after a record-breaking year for the borough in 2023, as both renters and would-be buyers looked farther from Manhattan in search of more affordability. While Queens remains hot, driven by a boom in new developments in recent years, StreetEasy predicts Manhattan will start to regain popularity among renters this year as its rental prices begin to drop. Trendy sub-neighborhoods of ever-popular areas like SoHo and the Upper East Side will take the lead in the borough.
This is the second year in a row Queens is taking over (after Brooklyn dominated the list in 2022 and 2021), and according to a recent study by RentCafe Queens is NYC’s second most sought-after borough, so it’s no surprise the borough made its way onto the list five times.
Plus, we all know living in NYC isn’t cheap, but StreetEasy recently found Briarwood, Queens is the cheapest NYC neighborhood to buy a house.
Past studies have also shown that easy access to Manhattan along the 7 line certainly play into Queens neighborhoods reigning supreme.
The full study can be found here.