The rent has been too damn high in NYC nigh going on at least a decade now, so it's starting to feel a bit performative when people are that shocked at our increasingly unfeasible real estate market. And yet, there are still moments that make us stand back in awe at how expensive it is to live here—and the map below, which shows the massive increase in million-dollar homes around the city over the last four years, is one such example of that.
Real estate site Trulia found that the share of million dollar homes in the United States has nearly doubled since 2012. NYC is only the eighth top metro area to have experienced a huge jump (San Fransisco, San Jose and Oakland have increased the most), but what's especially interesting is where the biggest increase in million dollar homes has been in the city.
As you can see in the chart below, there has been an explosion of million dollar residences in Brooklyn, in particular. The top nine places on the list all hail from Brooklyn: Bed-Stuy increased from around 2% of homes valued at least a million dollars to 56.5% of them valued at that; Crown Heights went from 2.6% to 50.4%; Greenpoint jumped from 29.2% to 76.3%; and Bushwick went from 1.0% to 46.8%.
Check out the rest of the list below, and more on the other major areas of growth here.
