Staten Island’s Downtown Appreciated In Value Along With Other Neighborhoods: Home Values In Downtown Area Priced Higher Than Other Areas
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The following Staten Island downtown info was provided by Property Shark:
In both 2014 and 2023, the borough median sale price for Staten Island was higher than that of Downtown Staten Island. In 2014, the downtown median sale price ($301,000) was 24% lower than the rest of the borough ($397,00) —a $96,000 price difference.
A decade later, things were a bit more complicated: the median sale price of Downtown Staten Island rose 66%, reaching $500,000, while the rest of the borough appreciated 62% to reach $645,000. So, while in terms of percentages the gap between Downtown and the rest of the borough shrunk, as far as the average consumer is concerned, buying a home in Downtown Staten Island now costs $145,000 more than in the rest of the borough.
Basically, in terms of actual dollar amount, the price gap has widened.
As an added note, Downtown Staten Island was defined as the neighborhoods of Tompkinsville, Stapleton and St. George
From the original study:
We found that over the past decade, downtowns have lagged in home price growth in 31 of the 40 largest U.S. cities. Additionally:
- Nationwide: In 17 of the 40 largest U.S. cities, downtown home prices are now lower than the rest of the city, nearly double than a decade ago.
- Western U.S.: Downtown home prices in 10 of the largest western cities are now lower than the city median, twice as many as 10 years ago. For instance, Downtown L.A. Is now $350K cheaper than the rest of the city.
- Southern U.S.: Downtown home prices rose slower in 12 of the 15 largest southern cities, to the point that 4 downtowns are now lower priced than the rest of the city.
- Midwestern U.S.: Downtown prices in 7 of the 8 largest midwestern cities grew at a slower rate than the rest of the city over the past decade.
- Northeastern U.S.: The downtowns of Boston and Philadelphia appreciated noticeably slower than the cities themselves, but these city centers remain much more expensive.
Want to dive deeper into these trends? Check out our full report for more insights:
Banner Image: Staten Island Ferry Terminal. Image Credit – Doug Tone lic by CC
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S.I.’s “downtown?”
This marketing idea again?
Trying to rebrand St. George as “downtown SI” is just sad.
We don’t have a “downtown.” We have town centers and neighborhoods.
“The Ferry Area” or “Brighton Heights” works better, along with St. George, the name of the area, OFC.
People usually say “by the ferry”. St. George cuts it.
Downtown? I’m not a fan.makes me think there will be office buildings, shopping, the whole nine.
St. George, while amazing for many real reasons, does not fit that bill.
From Wikipedia, the free encyclopedia
For other uses, see Downtown (disambiguation).
Midtown Manhattan (foreground) in New York City is the largest central business district in the world and the most populous residential district in the Western Hemisphere.[1]
Downtown is a term primarily used in North America by English speakers to refer to a city’s sometimes commercial, cultural and often the historical, political, and geographic heart. It is often synonymous with its central business district (CBD). Downtowns typically contain a small percentage of a city’s employment.[2][3] Sometimes, smaller downtowns are surrounded by lower population densities and lower incomes than suburbs.[4][5] It is often distinguished as a hub of public transit and culture.[6]
https://en.wikipedia.org/wiki/Downtown
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I’m not sure. St. George now has a fifth-rate mall but that’s it. (SI has many other malls, counting strip malls!)
We never use this DOWNTOWN term but the Wikipedia definition seems to suggest St. George is ONE OF Staten Island’s most significant downtown areas. Possibly…Because the Boro Hall is there. One of the courts is there. The St. George Theater, one of the best small venues on Earth, is there. The ferry transportation hub is there. The stadium is there.
But we also have Port Richmond, the real downtown for Mexicans and other Latino peoples. That’s historic, and older.
We also have New Dorp. (Old Dorpe). Very old also. Also a commercial hub. Also historic.
As for geographic heart? The Old Richmondtown qualifies. That was Downtown SI for centuries. Now just a historical site.
New Springville is also gengraphically at the island’s center, but is it “downtown”? By the Mall? Definitely not a downtown.
“”Midtown Manhattan (foreground) in New York City is the largest central business district in the world and the most populous residential district in the Western Hemisphere.[1]””
Wait! So, Midtown Manhattan is the actual Downtown of Manhattan and not Downtown, Manhattan?
That isn’t too confusing. 😐
I’ll keep calling Battery Park, the Financial District, South Street Seaport, etc. downtown.
My vote on St. George: We don’t have a downtown like Brooklyn. Queens and the Bronx don’t either.
Manhattan does, but I thought downtown was downtown.
Weird.
But for us it’s just posturing. St. George is St. George. And, yeah, by the ferry works.
I will call it downtown SI the day the area has a real skyline, commerce, business, housing, culture.
I’ll never call it downtown SI.
They had some name for Bay Street a while back, too.
I think THAT was also “downtown.” ROTFLMFAO
No way. St. George isn’t “Downtoen Staten Island.”
Stop. Just stop.
Many neighborhoods and towns on SI have a downtown::
.
Port Richmond
St. George
Stapleton
Great Kills
Elitngville
and many more
We always called it Lower Manhattan and Midtown.
We also said Downtown, Midtown, and Uptown.