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Study Examines The Rising Cost Of Housing In Brooklyn

Study Examines The Rising Cost Of Housing In Brooklyn
Posted January 7th, 2014 @ 11:06am

(Lauren Evans) We know a million times over how excruciatingly, head-clenchingly, teeth-grindingly expensive it is to live in Hip Brooklyn. (To say it's pandemic through the entire borough would be unfair—look, it's Kensington!) A new report commissioned by brokerage firm now allows us to peer into the unblinking eye of the tiger, the spleen of the hornet's nest, the hematoma of the hurricane and see just how drastically the cost of living in Hip Brooklyn has spiked since 2003.

The report will not surprise you, not because it's not jarring, but because your ability to process surprise was deadened long ago, right after you found yourself agreeing to pay $4.86 million for a Brooklyn Heights townhouse. (That was the average price in 2012, by the way. In 2013, the average fell to the eminently more reasonable $4.5 million.)

Read More: Gothamist

Photo Credit: Getty Images/Spencer Platt - Brooklyn Ten Year Sales Study

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