Top 10 NYC neighborhoods to buy and rent in 2023

In 2022, both NYC renters and buyers came across many challenges, such as record-high home prices, rising mortgage rates, limited housing stock, and skyrocketing rents. Now, as the year is coming to an end, the 2023 housing market predictions begin to appear online, helping New Yorkers better understand what to expect. 

Recently, Streeteasy released a list of the top ten NYC neighborhoods to watch in 2023. These neighborhoods will likely see the most demand from renters and potential buyers thanks to their location, lower housing prices, and easy access to public transportation. 

“We define our top 10 NYC neighborhoods to watch in 2023 as the neighborhoods that saw the greatest rise in interest among buyers and renters in 2022,” said StreetEasy’s economist Kenny Lee. “These neighborhoods saw strong annual growth in home prices, rents, and user searches on StreetEasy – a trend that could very well continue next year.”

Three Manhattan neighborhoods appeared on the StreetEasy “to watch” list. Turtle Bay topped the list and is expected to draw the most interest from New Yorkers. In 2022, this neighborhood was especially popular among homebuyers and renters who have returned to the office part-time and searched for an apartment that offers an easy commute to work. East Harlem climbed to third place, and Kips Bay ranked no. 8. 

If you are looking to move to Brooklyn, add Bushwick, East Flatbush, and Sunset Park to your list. These neighborhoods attracted many renters and homebuyers this year and will likely continue to be in demand. Bushwick rose to second place on the StreetEasy's list with a 31 percent annual rise in searches. Meanwhile, searches for listings in traditionally-popular Williamsburg increased by only 18 percent this year.  

Queens claimed four spots on StreetEasy’s top ten list. According to the report, this borough offers more affordability, as well as easy-to-access public transit that can take you to the other parts of the city and a variety of housing options. Elmhurst became the most popular Queens neighborhood, followed by Woodside, Sunnyside, and Middle Village.

Resources:

“10 NYC Neighborhoods to Watch in 2023,” by Kenny Lee (StreetEasy, 2022)

“These 10 NYC Neighborhoods Are Expected to Attract the Most Renters Next Year,” by Chris Mench (thrillist, 2022)