January 8, 2017
The Kingsbridge neighborhood in the Bronx will be the Hottest Neighborhood in all New York City in 2017, according to the economists at StreetEasy, a Zillow company.
No, really… StreetEasy anticipates that by the end of this year, Kingsbridge will be at the top of its Hot Market Index, which considers growth in home prices, population and apartment rents, in addition to page views on the StreetEasy website. Brooklyn neighborhoods dominate the rest of the list.
Growth is the key. The economists at StreetEasy say growth is likely to slow in many of New York’s established neighborhoods, including most of Manhattan.
“This year’s list of hot neighborhoods is all about trade-offs New Yorkers are willing to make,” said Krishna Rao, economist for StreetEasy. In 2017, those trade-offs are likely to mean looking further afield.