NYC's Cheapest Homes Are Found On These Streets, Study Says

NEW YORK — New Yorkers don't need Manhattan money to get a place of their own. Homes go for less than half a million dollars on a handful of New York City streets, a recent study shows.

Nine of the 12 corridors where the typical home sells for fewer than $500,000 are outside Manhattan, according to PropertyClub's Tuesday report on the city's most affordable streets.

Three Bronx roads topped the real estate website's ranking, which is based on home sales closed in the first nine months of this year.

Taking the top spot was Unionport Road in the Parkchester neighborhood. Some 28 homes were sold there from January through September with a cheapest-in-the-city median price of $170,000, PropertyClub says.

"This Parkchester street might not be as glamorous as Park Avenue, but what you get is proximity to the Bronx Zoo, the New York Botanical Garden, and Yankee Stadium," the report says.

Three uptown Manhattan streets are also among the city's most affordable, led by Manhattan Valley's West 107th Street at No. 4 with a median home sale price of $204,765, the report says. That's a stark contrast to the $9.8 million price on Central Park South, which PropertyClub named the city's most expensive street in another recent report.

Reasonable prices are also abundant in many parts of Queens, which notched five neighborhoods with median prices below the half-million-dollar mark, PropertyClub found. Brooklyn's East 19th Street also squeezed under that threshold with a median price of $499,999, according to the report.

PropertyClub's ranking is based on sales data from the city's Department of Finance for one- and two-family homes, condos and co-ops. The analysis only examined streets with at least 20 sales and did not include deals with undisclosed prices.

See PropertyClub's full ranking of New York City's 50 most affordable streets below. Read the full report here.