And just like that, Brooklyn continues to grow, in shopping, tourists, residents and now cost of living! According to The Council for Community and Economic Research that was cited in Brooklyn Daily Eagle, Brooklyn is now the second most expensive place to live in America! Thought about moving here, you now more than ever need to have your pennies in order. Of course the number one spot, Manhattan still holds but Brooklyn is not that far behind.

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We have managed to seemingly beat San Francisco, who has held the second spot for a number of years. They have dropped to third place and falling right behind are San Jose, Honolulu, Queens (NY) and Stamford.

With thousands of new apartments at market rate being built downtown Brooklyn and new major retail stores opening up, I presume that the cost of living will continue to rise. Brooklyn for sure is not what it used to be. Everyone wants to come to Brooklyn! Just recently Oscar Nominee for the movie “12 Years A Slave”, Lupita Nyong’o, moved to Brooklyn where she has more of a professional network. She spends her time in Fort Greene’s, Madiba, one of her favorite restaurants.

The Council ranks 300 U.S. cities, based on the cost of people who enjoy “a professional-managerial standard of living.” To describe that so everyone understands, the study is based on rent/mortgage, cost of food, utilities, and transportation. The cost of rent is what brings Brooklyn to second place. It has drastically increased in the past 5 years.

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What most new residents are doing is coming to Brooklyn, buying houses and renting rooms out. Your best bet is to purchase a house now before all the drastic changes come. But hurry you don’t have that much time!

Brooklyn is now officially on the rise, price wise!

 

Photo Cedit – DowntownBrooklyn.com/shuttershock.com