Brooklyn Home Prices & Values

$620,300 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 16.8% 1-year change
  • 6.6% 1-year forecast

The median home value in Brooklyn is $620,300. Brooklyn home values have gone up 16.8% over the past year and Zillow predicts they will rise 6.6% within the next year. The median list price per square foot in Brooklyn is $434, which is lower than the New York average of $518. The median price of homes currently listed in Brooklyn is $499,000 while the median price of homes that sold is $502,425. The median rent price in Brooklyn is $2,400, which is lower than the New York median of $2,900.

Foreclosures will be a factor impacting home values in the next several years. In Brooklyn 0.1 homes are foreclosed (per 10,000). This is lower than the New York value of 0.3 and also lower than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Brooklyn is 20.0%, which is higher than the national value of 7.2%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Brooklyn homeowners underwater on their mortgage is 9.3%, which is lower than New York at 11.4%.

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Relative ZHVI
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Brooklyn Market Overview

Data through Jun 30, 2014
  • $620,300 ZHVI
  • 6.6% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Jun 30, 2015)
  • $499,000 Median listing price
  • $502,425 Median sale price
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Brooklyn Market Health

Data through Jun 30, 2014
  • 9.8/10 Very healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • 180 Average of days on Zillow (May 31, 2014)
  • 9.3% Homes with negative equity (18.8% US Avg) (Mar 31, 2014)
  • 20.0% Delinquent on mortgage (7.2% US Avg) (Mar 31, 2014)

Homes foreclosed (per 10,000)

0.1 homes Brooklyn
0.3 homes New York
4.3 homes United States
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Neighborhoods in Brooklyn

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Prospect Lefferts Gardens $1,037,100 Windsor Terrace $949,100 Flatbush $835,600
Midwood $740,200 Kensington $731,400 Crown Heights $722,300
Wingate $448,900 Flatlands $414,200 East Flatbush $384,700

Listings & Sales

Data through Jun 30, 2014
  • $434 Median list price / sq ft
  • $516 Median sale price / sq ft
  • 11.9% Listings with price cut
9.1%
Sold below listing
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Brooklyn Rentals

Data through Jun 30, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$2,337 Brooklyn
$2,196 New York
$1,310 United States
  • 6.0 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2013)
  • $2,400 Rent list price
  • No data Rent list price / sq ft
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