If you ever dreamed of buying that house in New York City, your automatic answer would be, “There’s no way I can afford that!” And you’re right. The real estate market in New York City in 2025 is just as cutthroat as it ever has been, from glass-and-steel skyscrapers in Manhattan to Queens high-rise buildings selling for seven figures. But what if I told you that not everything in this city of landmarks costs an arm and a leg?
Let’s discuss where you can purchase a home in New York this year without selling your soul—nor all your furniture.
New York is still expensive, but not everywhere
I know what you’re thinking: “Isn’t everything in NYC insanely expensive?” It definitely can be. According to Property Shark, 39 neighbourhoods in NYC surpassed the $1 million mark for median home sales in the second quarter of 2025. That’s nearly 80% of the city’s 50 priciest areas. A few even broke the $2 million mark—yes, for just the average home.
So, as it turns out, Manhattan and parts of Queens are living up to their reputation. But the catch is it’s not all boroughs trending in the same direction. There are some neighbourhoods—namely in Brooklyn and the Bronx—that are going against the trend by offering more bang for one’s buck and even discounts.
The Bronx and Brooklyn: NYC’s best-kept secrets in 2025
I can show you beyond the turmoil of Manhattan. If you’re willing to look north or across the East River, you’ll find neighbourhoods that are not only less expensive but also full of character and potential.
For example, median home prices are decreasing in many neighbourhoods of the Bronx. It’s a signal that the borough remains an affordable gateway to New York homeownership. It’s not solely about the cost. The Bronx is culturally vibrant, community-oriented,ated, and increasingly developing a new tide of development projects offering even more value in years to come.
In Brooklyn, meanwhile, some neighbourhoods are also cooling slightly in terms of price. Sure, parts of the borough like Williamsburg are still expensive in the distance, but other communities like East New York and Brownsville are still offering relatively more moderate prices. You might end up with fixer-uppers or modest condos for much less than the citywide average—and with some timing, you might be able to snatch a deal.
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What about queens?
You would think that would be cheaper, too, wouldn’t you? Think again. Fresh Meadows hit a median sale price of $1.15 million partly because there is such a high demand for single-family homes. That was the kind of growth earlier this year and a sign of how much competition the market now has—and even in areas that have long been affordable.
All that being said, Queens is still a multi-ethnic borough with a broad spectrum of prices. Fresh Meadows has gentrified, yes, but you can still find a deal in a place like Jamaica, Ridgewood, or even Elmhurst if you’re willing to wait and have a good broker.
The most expensive neighborhoods in 2025
Let’s just say that if your budget has a cover, chances are you don’t want to enter Manhattan at all—least of all currently.
Here’s a reality check on the priciest neighbourhoods in NYC this year:
- Hudson Yards: Unchallenged monarch of the NYC luxury market, with buyers paying an average of $5.98 million. It’s not the buying of a home—it’s the buying of a lifestyle that includes a concierge, rooftop pool, and city skyline views.
- TriBeCa: Still at $4.15 million, it’s still the celebrity and Wall Street titans’ go-to neighbourhood.
- SoHo: Renowned for its iconic cast-iron lofts and high-end designer stores, homes here cost an average of $3.69 million.
- Hudson Square: Another treasure of Manhattan, with the average price tag of $2.43 million.
- Little Italy: You’ll need to pay at least $2.56 million for property here, which splits time between history and luxurious living.
These areas are probably out of your reach unless you’ve won the lottery—or inherited a brownstone. But that’s not what we’re discussing.
What can we learn from this market?
Here is the improved outlook I’d like you to hold on to: New York remains full of potential—if you know where to look. The city is a contrast city. While there’s Hudson Yards for the ultrawealthy, there are communities in the Bronx or Brooklyn where you can begin building your life and possibly even your economic future.
It also illustrates that NYC real estate is not one-dimensional. Sure, okay, the averages will be stratospheric, but averages don’t say everything. In each borough—and typically in each neighbourhood—there are micro-markets, and prices can differ block by block. You don’t always have to purchase a penthouse in SoHo just so you can claim you own something in New York.
So… purchase in NYC in 2025?
If you’ve been waiting for the “right time” to enter the NYC housing market, 2025 could be your year—especially if you’re open to exploring lesser-known but up-and-coming areas. With some prices cooling in the Bronx and Brooklyn, this might be your window to get in before values bounce back.
Some neighbourhoods are seeing more listings and more room for negotiation as the real estate market evolves post-pandemic and amid interest rate shifts. Deals are available if you’re prepared to invest and have done your research.
