Rising cost to live in Brooklyn.

What Does it Really Cost to Live in Brooklyn?

Sometimes seen as the capital of the world, the Big Apple is a pretty expensive place. Rent, utilities, groceries – everything is sky-high expensive in NYC. However, let`s not forget that there is more than one borough in NYC. What is the situation like in other New York boroughs? Do you know how much does it cost to live in Brooklyn? If you have wondered about the cost of living here, you needn`t be confused any longer. Here`s everything you need to know!

Manhattan is more expensive for life than Brooklyn

Let`s start with some good news. If you think that living in Brooklyn is or will be expensive, just think about the prospect of living in Manhattan. We are sure you would not feel so comfortable with this thought. The only borough in NYC that is more expensive than Brooklyn is Manhattan. To give you an idea of how much cheaper Brooklyn is, think about this. The median rent in Manhattan is $3,150, while in Brooklyn it is $2,500. That is 65o dollars that could be better spent on stuff like groceries, clothes, or college fund for your kids.

If life in Manhattan turns out to be too expensive for you, you should seriously contemplate moving to Brooklyn. Sit down and think whether this is a realistic option for you. Research local movers Brooklyn based, inquire about the transportation system to take you to and from work and look into good schools. It should not take you too much to figure out your potential relocation.

Life in Manhattan does have its advantages.

But, Brooklyn is more expensive than the other NYC boroughs

Let`s recapitulate what we all learned a long time ago, shall we?. There are five NYC boroughs – Manhattan, Brooklyn, Queens, The Bronx, and Staten Island. When it comes to the cost of living, Manhattan takes the first place, no doubt about it. However, as an up-and-coming borough, Brooklyn is a close second. For the past couple of decades, Brooklyn has served as a place where you go to escape the Manhattan prices. Today, if you wish to lead a cheaper life, you need to go to Queens or The Bronx.

Namely, a few minutes ago we mentioned that the median rent in Brooklyn is $2,500 dollars. However, in Queens, the average rent is $2,175. Compared to Manhattan, that leads to a thousand dollars you can save every month on rent only! So, it turns out that Brooklyn is not so cheap per se. Thus, U. Santini Moving & Storage advises you take a hard look at your finances, and decide what works best for you in the long run.

The cost to live in Brooklyn

Numbers, numbers, numbers – it`s what it all comes down to. The only way to get an image of how much you will have to earn (and spend) while living in Brooklyn is by taking a look at the following numbers. Even though they might seem intimidating, you should not be afraid right away.

  • The average home value in Brooklyn is $557,000.
  • A pair of regular, blue jeans is costs around 59 dollars. 
  • The cost to live in Brooklyn gets higher if you need to use parking. You should expect to pay a few hundred dollars in order to keep your vehicle in a car garage.
  • What`s surprising is the fact that the package for an average apartment in NYC is actually cheaper when compared to other states. ($127.02 )
  • Even groceries are more expensive, and their cost is above the national average. 
  • Different service providers` cost can vary based on what you need, and who you find. For example, finding cheap storage Brooklyn based is perfectly doable, as long as you put in some effort.

Don`t be discouraged. Just like the cost of living varies in different NYC boroughs, the cost of your life greatly depends on which Brooklyn neighborhood you choose for your home.

Dumbo neighborhood.
The cost to live in Brooklyn will get higher if you live in a high-end neighborhood.

Choose your neighborhood carefully

Whichever state you may be living in, we are sure you have heard about some of the iconic Brooklyn neighborhoods. For example, DUMBO, which is located just under the equally iconic Brooklyn Bridge, is a popular NYC attraction. However, living in such a well-known place comes with a few perks and more than a few disadvantages. To give you a precise insight into how different the prices can be in different neighborhoods, you should take a look at the following chart. We will list the average prices for renting an apartment in three of Brooklyn`s favorite neighborhoods – Greenpoint, Park Slope, and DUMBO.

Greenpoint

  • Renting a one bedroom apartment – $2,600
  • Renting a two bedroom apartment – $3,000
  • Buying a one bedroom home – $490,000
  • Buying a two bedroom home – $749,000

Park Slope

  • Renting a one bedroom apartment – $2,850
  • Renting a two bedroom apartment – $4,200
  • Buying a one bedroom home – $645,000
  • Buying a two bedroom home – $799,000

DUMBO

  • Renting a one bedroom apartment – $3,925
  • Renting a two bedroom apartment – $5,900
  • Buying a one bedroom home – $999,000
  • Buying a two bedroom home – $1,285,000

Bear in mind that these are just examples of housing prices in Brooklyn and that you will be able to find variations. However, these numbers will easily give you a vision of how different the prices here can be. If you want to lower your NYC moving costs (as well as living ones), you need to choose some less-known neighborhoods. And, if you are moving to Brooklyn you are in luck. Flatbush, Red Hook, Fort Greene, Bushwick – the list of Brooklyn neighborhoods goes on and on! 

A calculator to help you calculate what the cost to live in Brooklyn is.
Your expenses will vary depending on which neighborhood you move to.

The conclusion

One of the best Brooklyn moving tips we can give you is to choose your neighborhood wisely. Your neighborhood of choice will have a direct impact on how much it will cost to live in Brooklyn. And, as you were able to see, the cost of living here can get pretty high. If you don`t have the means to live in the elite neighborhoods, it is better to live according to what you can afford.

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