The 5 Cheapest Places to Buy Property in New York City

New York City is notorious for being not only an expensive, but also extremely difficult place to live. The average person may not be able to live in a Manhattan studio loft, but there are places in the city that are a little bit more in your price range if you’re not a billionaire investor or famous movie star. This list of the 5 cheapest places in New York aims to prove that you can still be a part of the hustle and bustle of the city on a budget.

  1. Howard Beach

Howard Beach in Queens starts off the list as the fifth cheapest place to live in New York City. It sits in the Southwestern portion of the city and is named for William J. Howard, who was, of all things, a glove manufacturer. Howard Beach consists mainly of single-family houses, and is a great option for those who want to live a little quieter. If the mood strikes you, it’s not too far from Manhattan, and with a house only costing $380,000, or rent $1600, it’s definitely worth considering.

  1. New Brighton

New Brighton is a neighborhood located on Staten Island that was originally incorporated as a village in 1866. Its rich history makes it rife with attractions and beautiful architecture, such as Snug Harbor and St. Peter’s church. The median sales price for a home in such an area is around $365,000, and $1800 a month for rent. If Victorian mansions and civil war-era homes interest you, New Brighton may be worth checking out.

  1. Port Ivory

Port Ivory is another very affordable Staten Island neighborhood. It’s named after Ivory soap, which was manufactured by Procter & Gamble for many years at a factory in the area. It is located on Newark Bay and sits right on the northwestern coast of Staten Island. A house, on average, is a little cheaper than in New Brighton, around $360,000. If you’d prefer to rent, or that’s a little out of your price range, an apartment should cost you around $1550.

  1. Hammels

Hammels is a small neighborhood in Rockaway Beach in the borough of Queens. It’s home to the Hammel Houses, a 1954 housing project. It also contains the St. Rose of Lima Roman Catholic church, and is accessible by New York City’s A train. The average house is around $275,000, and rent is a very affordable $1500.

  1. Parkchester

Parkchester is a planned community located in Central Bronx. It is the cheapest place on this list by far, the average house is only $180,000, and rent will run you about $1500. This makes Parkchester, the cheapest neighborhood, almost 20 times cheaper than NoHo, the most expensive neighborhood in New York City. Parkchester was built with aesthetics in mind, as evidenced by its brick buildings, its paths with intricate brickwork, and its beautiful statues and topiaries in its parks, such as the Aileen B. Ryan oval. The area also contains over 500 statuettes created by sculptor Joseph Kiselewski. Parkchester would be a great option for a design-oriented person with a keen eye, that is also on a budget.

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