New York City, NY

Most expensive New York City neighborhoods--is the cost worth it?


New York, New York is famous for its skyline, restaurants, and eclectic people. It's also known for some of the most expensive skylines in the U.S. and is home to some of the wealthiest people in the country.

We found the most expensive New York, New York neighborhoods, and the findings may surprise you.

#1-Flatiron Northwest

Coming in as the most expensive neighborhood in New York, New York is none other than Flatiron Northwest. The median home price is $5,929,876 which makes it more expensive to live here than in 99.9% of neighborhoods in the U.S.

More than 86% of residents have received their four-year bachelor's degree. This is a higher rate than 99.3% of places in America.

Likely coming as no surprise, people are wealthy who live here. In fact, people in this residential area are wealthier than 97.8% of the country.

#2-62nd Street/Madison Ave

A 10,00 square foot on 63rd street of the Madison Ave area is listed at $29,995,000. That's a monthly mortgage of $168,380. You can view the listing on Zillow here.

In order to live here, you clearly have to have the financial ability to afford one of these prestigious apartments or homes. Only 0.2% of America's neighborhoods are wealthier than this group. This type of income can buy you top-tier security which makes sense given Madison Ave residents enjoy a crime rate that is 75% safer than all other neighborhoods in the U.S.

This location is considered very walkable, trendy, and home to plenty of urban sophisticates. The top languages spoken here are English, French, and Portuguese.

#3-Tribeca West

Coming in third on our list with a staggering median home price of $5,283,066, Tribeca West comes in third on our list. Most of Tribeca West is small studio apartments to medium studio apartments. Although it's rich with apartments, this area is still more expensive than 99.8% of areas in the country. This type of price range comes with an equally expensive median real estate tax estimate of $26,418.

New York, New York is somewhat known for its metro transportation system throughout the city. And that's certainly true for Tribeca West residents because 44.0% of them take the metro to transport themselves around town.

#4-Madison Ave/E 72nd Street

With a median real estate price of $5,264,149, homes and apartment dwellings in the Madison Ave and 72nd Street area are more expensive than 99.9% of places in the U.S. This place is very densely populated with 56,835 persons per square mile in the neighborhood.

And only in New York City, in a wealthy area like this would 49.7% of the households not own a vehicle. Of those who have professions and work while living here, a majority of them are executives and managers.

#5-Soho Southwest

Last but not least on this list is Soho Southeast. The median real estate here is $5,113,374. And the average rental price is listed at $4,751.

In order to afford this cost of living, it's understandable that residents here are very wealthy. In fact, Soho Southwest is among the top15% highest income neighborhoods in America.

New York, New York residents, what do you think? Would you buy real estate in one of these neighborhoods and is the cost worth it? Let us know in the comments!

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