Every year StreetEasy predicts trends that will be driving the New York City real estate market in the coming year. Last year, the online real estate marketplace predicted that 2016 would be the year of the luxury market slowdown and slower price growth across the board, fierce competition in Upper Manhattan and great rent increases for Brooklynites.

For 2017, StreetEasy predicts more New Yorkers will become homeowners and tenants will continue to see a rise in rents. With transportation shake-ups around the city, including the temporary closure of the Williamsburg L-train and the long-awaited opening of the Second Avenue subway, renters’ and buyers’ moving decisions will be drastically impacted by these changes over the next year.

“In a bustling city like New York where everyone depends on public transportation, time is money,” StreetEasy Economist, Krishna Rao, says in a statement. “Though some buyers and renters may seize the opportunity to negotiate in formerly hot areas like Williamsburg, others will be willing to pay a premium for a quicker commute and to avoid any pause in transit service.

Fort Greene Predicted To Be The Hottest Brooklyn Neighborhood in 2017
Photo via StreetEasy

According to the StreetEasy Hot Market Index, Kingsbridge in the Bronx will be the hottest neighborhood of 2017. The list of the city’s hottest neighborhoods is a reflection of where New York apartment shoppers are expected to turn their attention in the coming year and takes into account four key performance indicators: annual change in sales price, annual change in rent price, recent population growth and annual change in StreetEasy page views per listing. While the Bronx took first place, Brooklyn neighborhoods: Fort Greene, Bath Beach, Prospect-Lefferts Gardens, Gowanus, Prospect Park South and Boerum Hill occupy six of the 10 spots.

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“The Brooklyn neighborhoods that dominate the list suggest that residents are eschewing more traditionally popular areas in favor of those that offer similar waterfront views or park adjacency for a lower price tag,” says Rao.

With the expansion of Fort Greene’s Brooklyn Academy of Music (BAM) with BAM Strong — a new “unique complex” connecting BAM spaces at 651 and 653 Fulton Street and 230 Ashland Place through the addition of an elevator, balcony and seating, art gallery space and a ground floor café, there’s high hopes for the neighborhood. In addition, Apple will open their second Brooklyn location on the ground floor BAM South, a new building project at 300 Ashland Place. The Fort Greene building features 379 residential units and is set to include a new BAM movie theater, Brooklyn Public Library branch, a 651 Arts dance studio and a 10,000-square-foot outdoor public plaza.

“This year’s list of hot neighborhoods is all about trade-offs New Yorkers are willing to make, whether that means extending your search by one neighborhood in exchange for a nearby park or waterfront views, or extending your commute to find a relatively affordable single-family home,” says Rao.

Both Manhattan and Queens neighborhoods are less represented in 2017 predictions. Rent data for Staten Island was insufficient and is therefore not included in the analysis.