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
