Top 10 New York Neighborhoods Where Everyone Wants to Live

In 2023, Queens became the most popular area for renters and buyers looking for affordable prices, but Manhattan will be in demand again this year. Streeteasy have compiled a list of New York neighborhoods worth paying attention to in 2024.

According to StreetEasy economist Kenny Lee, rents in Manhattan will fall as a result of an increase in new listings, forcing landlords to compete for tenants. The trendy areas of SoHo and the Upper East Side will be of greatest interest in Manhattan. The list is based on the growth in searches on StreetEasy among buyers and renters between 2022 and 2023.

Why are landlords facing increasing competition? There are several factors at play here: Lower mortgage rates will likely encourage renters to become buyers and create more rental vacancies. In addition, the city's tough new short-term rental registration rules mean apartment owners are more likely to list their listings on the regular rental market.

“Many of these properties have been purchased by investors who are now faced with a choice: either switch to a standard lease with a lower yield, or sell. With the sales market currently not in the best position, finding new, longer-term tenants seems like an easy choice,” said John Walkup, co-founder of UrbanDigs, a real estate data analytics company.

1. Ridgewood, Queens

Home buyer and renter inquiries in Ridgewood jumped 10,7% from 2022 to 2023, reflecting its growing popularity as an alternative to nearby Bushwick and Williamsburg. In 2023, the median asking rent in Ridgewood was $3, in Williamsburg it was $000, and in Bushwick it was $4.

Buyers can find modern condominiums with on-site parking and historic homes with thoughtful architectural details. In 2023, the median listing price in Ridgewood will remain unchanged at $1, the same as 149.

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2. Hunters Point, Queens

Hunters Point is located in the southern part of Long Island City. Here you'll find new rental homes with a median rental price of $4. In 200, the median asking price rose 2023% to just over $5,8 million, well above the borough median price of $1,2.

Inquiries for listings in Hunters Point are up 9% over last year as buyers and renters are drawn to the area's proximity to the waterfront, Gantry Plaza State Park and easy access to the E, F or 7 train.

3. Hudson Square, Manhattan

The area, located between the West Village and Tribeca, is expected to see an 8% increase in searches from 2022 to 2023, according to StreetEasy. Last year, the median asking price in Hudson Square rose 20,7% to nearly $3,5 million, and the median rent increased 7,2% to $7, making it the most expensive neighborhood on the list.

New condominiums and rental homes are driving up prices in the area, home to Google and Disney. The neighborhood is also known for its Federal and Greek Revival style homes in the Charlton-King-Vandam Historic District.

4. Jackson Heights, Queens

Jackson Heights, one of New York City's most diverse neighborhoods, saw a 2023% increase in buyer and renter inquiries in 5,4. This is probably due to the relative affordability of the area - the average price is $399. And a definite plus is a 250-minute subway ride to Midtown Manhattan.

Buyers can find decorated antebellum co-ops in and around the historic district, as well as single-family and multi-family homes with rental income potential. The median rent in Jackson Heights in 2023 was $2, second on the list and 286% below the borough average of $15.

5. Sunset Park, Queens

Sunset Park is the most popular Brooklyn neighborhood on this year's list. The annual growth in the number of requests was 4,7%. In 2023, the average asking rent in this waterfront neighborhood will be just $2, 400% below the borough average. This makes it a relatively affordable option for renters. However, the average asking price of $27 million is 1,45% higher than the average price in Brooklyn ($45).

Housing options here include single- and multi-family homes. The area is adjacent to the popular mixed-use Industry City development, the rapidly developing local Chinatown and the park of the same name overlooking the Manhattan skyline.

6. Kew Gardens, Queens

Kew Gardens has plenty of green space and relatively affordable housing. In 2023, searches in the area increased by 3,8% compared to the previous year, according to the report.

With a median listing price of $348 (000% below the borough median) and a median rent of $46 (2% below the borough median), it's the least expensive area on the list.

Kew Gardens is known for single-family homes in the Dutch Colonial Revival and Beaux-Arts styles. Rentals are concentrated in condominiums and co-op buildings located near the Long Island Rail Road station or the E and F subway stops. The neighborhood is adjacent to Forest Park, the third largest park in Queens at 544 acres.

7. Woodside, Queens

Woodside is the only neighborhood to be named to StreetEasy's Neighborhoods to Watch lists in both 2024 and 2023. This is a good option for renters looking for affordability and a quick commute to Manhattan.

Options for buyers include condominiums in new developments, co-ops in older buildings and small apartment buildings with private yards.

The average rent in the area is $2 - although up 500% year over year, it's still below the borough's $19 average. Woodside is one of the cheapest on the list for buyers, with an average asking price of $2 700.

8. Greenwood, Brooklyn

Greenwood is perhaps best known for its famous cemetery, home to Leonard Bernstein, Horace Greeley, Jean-Michel Basquiat, Pop Smoke and others.

Of course, there is more to do than wander around the cemetery. Fourth and Fifth Avenues are lined with restaurants, bars and shops.

Greenwood's median rent of $3 is just below the borough's average of $250, and the median asking price of $3 million reflects the diversity of properties for sale in the area—including new-build condominiums, multifamily and mixed-use investment properties.

9. Flatbush, Brooklyn

More new properties have been added to Flatbush in recent years, which likely contributed to the 3,2% increase in for-sale inquiries compared to last year.

Despite the increase, the median rent and asking price in Flatbush remain below the Brooklyn average at $2,800 and $600,000, respectively. Buyers are offered co-ops with pre-war details and new condominiums, as well as single- and multi-family homes in a variety of architectural styles.

10. Carnegie Hill, Manhattan

Carnegie Hill is a neighborhood on the Upper East Side of Manhattan. Inquiries in the area were up just 2,3% from the previous year, but the average asking price jumped 12,3% and the average rent jumped 5,3%.

The neighborhood's housing stock consists primarily of co-ops, but several multimillion-dollar townhomes and proximity to Central Park help bring the average asking price to $2,4 million.
Among the obvious advantages are the cultural institutions in the neighborhood: the Metropolitan Museum of Art, the Guggenheim, Cooper-Hewitt and the Jewish Museum.