The average starter home in New York City has shrunk to the size of four parking spots
Jordan Hart
- The cost of an average starter home in New York City ranges from $400,000 to $800,000, according to StreetEasy.
- Starter homes in NYC have shrunk by 9% in the last three years, the real estate marketplace found.
The New York City housing market is notorious for buyers willing to pay more for less, but the size of a typical Manhattan starter home in is only getting smaller.
According to a Wednesday report from StreetEasy, starter homes in New York — ranging from $400,000 to $800,000 — have decreased in size by 9% since the summer of 2019. Although first-time residences in Queens and the Bronx have shrunk the most, Manhattan homes remain the smallest.
At roughly the size of four-and-a-half parking spaces, the median square footage for a Manhattan home as of August is 686 square feet. Homes in Brooklyn have a bit more space at a median of 924 square feet, according to StreetEasy.
Although space in Manhattan is limited, buyers can take comfort in a significantly cheaper price per square foot than five years ago. Prices have decreased by nearly half since 2017 — from $1,775 to now $942.
If you're looking to put down roots in New York City any time soon, here are some examples from StreetEasy of what you may find on your search for a starter home.
501 square feet in Manhattan: $750,000
Neighborhood: Midtown South, Manhattan
Bedrooms: 1
Bathrooms: 1
Amenities: Full-time doorman, gym, laundry in building, live-in super
619 square feet in Brooklyn: $675,000
Neighborhood: Bedford-Stuyvesant, Brooklyn
Bedrooms: 1
Bathrooms: 1
Amenities: Dishwasher, in-unit laundry, private outdoor space, gym
1,000 square feet in Brooklyn: $799,999
Neighborhood: Crown Heights, Brooklyn
Bedrooms: 2
Bathrooms: 1
Amenities: Courtyard, laundry in building, skyline view
996 square feet in Staten Island: $475,000
Neighborhood: North Shore, Staten Island
Bedrooms: 2
Bathrooms: 1.5
Amenities: Community playground, assigned parking, central air-conditioning
863 square feet in Queens: $650,000
Neighborhood: Long Island City, Queens
Bedrooms: 1
Bathrooms: 1
Amenities: Fitness center, laundry in building, parking garage, landscaped rooftop
500 square feet in Manhattan: $400,000
Neighborhood: Hudson Yards, Manhattan
Bedrooms: Studio
Bathrooms: 1
Amenities: Storage available, laundry in building, private outdoor space
1,000 square feet in Brooklyn: $775,000
Neighborhood: Park Slope, Brooklyn
Bedrooms: 1
Bathrooms: 1
Amenities: Wood-burning fireplace, in-unit laundry, private garden
1,995 square feet in Bronx: $725,000
Neighborhood: Tremont, Bronx
Bedrooms: 4
Bathrooms: 3
Amenities: Private garden, fireplace, in-unit laundry, central air-conditioning
666 square feet in Manhattan: $759,900
Neighborhood: Hell's Kitchen, Manhattan
Bedrooms: 1
Bathrooms: 1
Amenities: Swimming pool, garage parking, gym, shared media room
714 square feet in Queens: $699,000
Neighborhood: Long Island City, Queens
Bedrooms: 1
Bathrooms: 1
Amenities: Doorman, gym, in-unit laundry, elevator
697 square feet in Manhattan: $699,000
Neighborhood: South Harlem, Manhattan
Bedrooms: 1
Bathrooms: 1
Amenities: Near Central Park, in-unit laundry, 24/7 staffed lobby
655 square feet in Manhattan: $529,000
Neighborhood: East Harlem, Manhattan
Bedrooms: 1
Bathrooms: 1
Amenities: Dishwasher, gym, roof deck, courtyard, in-unit laundry
1,800 square feet in the Bronx: $699,000
Neighborhood: Concourse, Bronx
Bedrooms: 3
Bathrooms: 2
Amenities: Live-in super, elevators, laundry in building
709 square feet in Manhattan: $699,000
Neighborhood: Lincoln Square, Manhattan
Bedrooms: 1
Bathrooms: 1
Amenities: Swimming pool, garage parking, concierge, valet parking
700 square feet in Brooklyn: $795,000
Neighborhood: Gowanus, Brooklyn
Bedrooms: 1
Bathrooms: 1
Amenities: Skyline view, shared outdoor terrace, fitness center, bike room
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