NYC consistently ranks as one of the most expensive cities in the country (and actually was just voted the wealthiest city in the world) especially when it comes to renting and buying homes, but which NYC neighborhoods are the most expensive?
This new study has answers!
CashNetUSA took a closer look at the most expensive cities in each U.S. state using real estate data from Zillow. By adding together the house prices in each area and dividing them by the number of properties, they were able to calculate the average price in each neighborhood.
And, as it turns out, NYC’s priciest neighborhood is also one of its newest–Hudson Yards.
Hudson Yards is the most expensive, with an average home costing $7.5m. According to The New York Times, the area has undergone a $25b transformation, building over the West Side rail yard. It is now home to some of New York’s best prime residential and commercial developments.
Coming in at the least expensive of the top 10 priciest neighborhoods in NYC is Greenwich Village, and though the average home cost is nowhere near that in Hudson Yards ($4M compared to $7.5M) it obviously still costs a pretty penny.
How do these prices measure up in the bigger picture, though?
Well, just to put things into perspective, according to the study the beachside community of Manalapan in Palm Beach County, Florida is America’s most expensive neighborhood overall, with the average home here costing a whopping $39.7 million, where home owners have included the likes of Billy Joel and Don King.
The other priciest neighborhoods in the U.S. overall include:
- Palm Island, Florida
- Snowmass, Colorado
- Beverly Hills Gateway, California
- Port Royal, Florida
- Golden Beach, Florida
- Bel Air, California
- Southampton Village, New York
- Sagaponack, New York
- Trousdale Estates, California
The full ranking can be found here.