Uptown Zip Code Cheapest In Manhattan For Home Buyers: Study

UPPER MANHATTAN, NY — A new study from real estate listing website PropertyShark has confirmed what most New Yorkers already knew: Buying a home in Manhattan is nearly impossible. The study found that only one zip code in the entire borough was even remotely affordable for home buyers.

The 10032 zip code — which spans parts of Harlem and Washington heights between West 153rd and 178th streets — is the only zip code in Manhattan where homes are selling for less than $500 per square foot so far in 2018, according to PropertyShark's data. The fact makes Manhattan the least affordable neighborhood in the city for home owners, especially compared to Staten Island and the Bronx in which every zip code in each borough averaged sales valued less than $500 per square foot.

Between January and June of 2018 the residential property sales for single and two-family homes in the 10032 zip code averaged $487 per square foot, according to the PropertyShark study. The study accounted for both coop and condominium sales, but did not include sales cheaper than $10,000 or packaged deals.

While the 10032 zip code is cheap compared to the rest of Manhattan, where some zip codes exceed an average sales price of $2,000 per square foot, it's no bargain compared to the rest of the country. The national average price is $150 per square foot, according to PropertyShark.

Check out the full study here.

Photo by Shutterstock.com