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Expensive
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These days, finding an affordable place to live in the Gramercy area can be challenging. Home prices in Gramercy are now at a median cost of $1,085,091, lower than the Manhattan average of $1,108,809.
The average cost of rent is $3,002/mo in Gramercy, primarily driven by the current value of real estate in the Gramercy area. In Gramercy, 77.87% of households rent, and 54.59% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Gramercy is $15,588 per month. Households that rent pay about 19.26% of their income on rent here. Gramercy’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southeastern parts of the neighborhood.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Neighborhoods
- Kips Bay, Manhattan, NY: less expensive homes
- East Village, Manhattan, NY: less expensive homes
- Murray Hill, Manhattan, NY: equally priced homes
- Greenwich Village, Manhattan, NY: higher priced homes
- Garment District, Manhattan, NY: less expensive homes
- Chelsea, Manhattan, NY: equally priced homes
- West Village, Manhattan, NY: higher priced homes
- Little Italy, Manhattan, NY: higher priced homes
- Soho, Manhattan, NY: higher priced homes
- Lower East Side, Manhattan, NY: equally priced homes
Neighborhoods with Similar Populations
- West Central, Mesa, AZ: less expensive homes
- Germantown, Philadelphia, PA: less expensive homes
- Humboldt Park, Chicago, IL: less expensive homes
- Lone Mountain, Las Vegas, NV: less expensive homes
- Lower Valley, El Paso, TX: less expensive homes
- Anaheim Hills, Anaheim, CA: equally priced homes
- Midtown-Memphis, Memphis, TN: less expensive homes
- Southeast Colorado Springs, Colorado Springs, CO: less expensive homes
- Southwestern Denver, Denver, CO: less expensive homes
- University City, San Diego, CA: less expensive homes
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