Brooklyn is New York City’s most populated borough and makes up the entirety of Kings County. Although the East River separates Brooklyn from Manhattan, residents can easily make it into the neighboring borough via one of the city’s three bridges and rapid-transit tunnels. When searching for Brooklyn real estate, here’s what you can expect to encounter when you move into the area.
Living in Brooklyn
When moving to this borough, you should work with a Brooklyn realtor to better understand the local market trends in the area. Currently, Brooklyn is experiencing cooling market trends
. The number of closed sales decreased by 47.2% compared to the same time last year. Median sales prices have also decreased slightly, down 0.3% to $648,000. Buyers can expect less competition when making their home search. Notably, real estate prices in Brooklyn rise above the city’s average, making it the second most expensive location to buy in NYC.
Movers should also make sure relocating to the area is a sustainable long-term choice. The cost of living
in Brooklyn is about 69% higher than the national average. Compared to the New York state average, Brooklyn is 29% more expensive. Factors that make the most of this discrepancy include housing, goods and services, and food.
Brooklyn itself has plenty of great neighborhoods. The borough itself is divided into 12 different districts, known as Districts 13 through 32. Be sure to sit down with a Brooklyn realtor to determine which community best suits your lifestyle. Some of the borough’s most popular neighborhoods include:
Brooklyn Heights is one of the first neighborhoods visitors see when entering the borough from Manhattan. Residents here enjoy its residential feel, views of Lower Manhattan, and plentiful shopping and live entertainment.
This neighborhood’s name is short for Down Under the Manhattan Bridge Overpass. As such, residents have an up-and-close view of the iconic Brooklyn Bridge. This creative community is packed with galleries, boutiques, eateries, and live theater performances.
The community of Williamsburg embraces its hipster energy. Explore local distilleries and wineries or sample the food the riverfront’s vendors offer in this eclectic and spirited locale. Williamsburg teems with nightlife venues, music performances, and gallery shows.
Other highly desirable neighborhoods
Brooklyn is home to numerous top-rated neighborhoods, each offering its own amenities and jaw-dropping views. These include Prospect Heights, Brighton Beach, Coney Island, Clinton Hill, Red Hood, and Fort Greene.
Brooklyn’s economy is continually evolving
. Since 2009, the borough has added 32% more businesses, generating over 48% in business sales. Employment in the private sector has reached a high. Brooklyn also provides perks for career-reaching residents, such as an established research infrastructure and access to Manhattan.
Brooklyn's economy has also recovered drastically from the pandemic compared to other NYC boroughs. Residents have benefited from an uptick in job opportunities
, especially in the leisure and hospitality industries. The retail, healthcare, and technology sectors have also seen high levels of growth.
Brooklyn’s several school systems provide quality education at all levels to residents. Top-ranked public schools include Brooklyn Technical High School, the Leon M. Goldstein High School for the Sciences, and the I.S. 98 Bay Academy. For families with younger children, the Coney Island Preparatory Public Charter School is a high-ranking K-12 institution offering a wide range of academically challenging programs. Elementary options include the P.S. 31 Samuel F Dupont school, which serves preschool through fifth grades.
Brooklyn is also home to seven universities offering higher education. Pratt Institute is a high-ranking institution for art and design. CUNY Brooklyn College is another renowned university widely known for its computer sciences program. Other colleges include SUNY Downstate Medical Center, Brooklyn Law School, and Long Island University System.
Viewing Brooklyn real estate has never been easier using the city’s widely successful public transportation options. The MTA New York City Transit travels through all five of NYC’s boroughs 24/7. Subway and bus routes are usually available around-the-clock. To access all three, all Brooklyn residents need is a MetroCard
. The Long Island Rail Road (LIRR) runs through Brooklyn as well but requires a separate ticket. Although it’s possible to get around by car, residents should be prepared to search for parking.
Where to have fun
Whether spending a day indoors or outdoors, there are plenty of ways to have fun in Brooklyn. Those planning a move here will be just moments from attractions like the Brooklyn Bridge, where locals can stroll along its string-lit pathway at night for stellar city skyline views. For a tranquil afternoon, stop by Prospect Park. This outdoor recreation area features a meadow, an indigenous forest, and guided hikes.
For a taste of Brooklyn culture, BAM, or the Brooklyn Academy of Music, hosts a range of dance companies year-round. The area’s live music and art scene are also incredibly impressive. Step into The Music Hall of Williamsburg for rising indie band talent or attend large festivals like BRIC Celebrate Brooklyn!, which showcases local musical talent. For a more introspective art experience, check out the contemporary art displays at A.I.R. Gallery and Transmitter.
For a shopping experience unique to the area, Brooklyn Flea is a must-see. Get your fill of vintage goods and top-notch cuisine from local vendors at this beloved attraction. The Gateway Center offers large department stores close to restaurants and entertainment. Shoppers flock to Kings Plaza, an upscale indoor mall whose four levels of upscale shops, lifestyle boutiques, entertainment venues, and culinary feats are begging to be explored.
There are also several boutiques in Downtown Brooklyn. Sincerely, Tommy is a women’s fashion store offering eclectic and distinct pieces that appeal to individual tastes. For women’s designer apparel and accessories, shop at Cloth, or head to City Point, Brooklyn’s premier retail and entertainment hub.
Ready to move to Brooklyn?
Are you ready to move into this exciting NYC borough? Interested in purchasing Brooklyn real estate? If so, you should have a talented, trustworthy, and knowledgeable real estate professional at your side to help you through every step of the way. When you’re ready to become a Brooklyn resident, be sure to contact Monica Novo
and The Novo Team to help you find the perfect home.