Midnight on Dec. 31, 2014, bystanders will crowd the streets around Times Square to watch the ball drop and usher in the new year. But where will those people decide to spend their next year in the Big Apple?
StreetEasy released its housing predictions for the 2015 New York City real estate market, citing what it predicts will be the 10 hottest neighborhoods in 2015.
The company scored every neighborhood based on annual growth in median asking rent and actual sale price of homes, as well as its 10-year growth in population — three indicators of increased demand to live in a specific neighborhood.
Without further ado, here’s the list:
10. Morningside Heights, Manhattan
9. Prospect Park South, Brooklyn
8. Spuyten Duyvil, Bronx
7. NoMad, Manhattan
6. Fulton/Seaport, Manhattan
5. Jamaica, Queens
4. West Harlem, Manhattan
3. Battery Park city, Manhattan
2. Vinegar Hill, Brooklyn
1. DUMBO, Brooklyn
“Vinegar Hill, a tiny enclave next to the Brooklyn Navy Yard, known for its industrial feel, is attracting a lot of interest. Vinegar Hill’s median sale price rose nearly 40% in the last year and rents have also edged up 9%,” said Alan Lightfeldt, StreetEasy data scientist.
Meanwhile, Lightfeldt added, ”Spuyten Duyvil, just across the river from the very tip of Manhattan, is the only Bronx neighborhood on our list and looks to be a very popular destination for renters. Although the median asking rent of $2,100 was well below the city’s median, it grew by nearly 23% in a single year.”
Click the next page for the top predictions.
Hint: It includes the top two boroughs for for-sale inventory growth in New York City.