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These days, finding an affordable place to live in the Brooklyn area can be challenging. Home prices in Brooklyn are now at a median cost of $307,312, higher than the Pennsylvania average of $288,156.
The average cost of rent is $982/mo in Brooklyn, primarily driven by the current value of real estate in the Brooklyn area. In Brooklyn, 16.21% of households rent, and 73.97% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Brooklyn is $6,040 per month. Households that rent pay about 16.26% of their income on rent here. Brooklyn’s most expensive areas are in the central regions, while the cheapest areas are in the eastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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Cities with Similar Populations
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