Brooklyn

Brooklyn 2016-12-30T12:46:41+00:00

The personal injury lawyers at Banville Law proudly represent clients throughout New York City. In order to better serve injured residents, we travel extensively across the five boroughs, conducting investigations and offering free consultations to anyone who feels they have been harmed by another person’s negligence.

While our primary offices are based in Manhattan, our attorneys are always looking for new ways to put the city we love in perspective. That’s why we made a series of free infographics to get a “big picture” view of the place we call home.

Here, you’ll find a look at Brooklyn, New York’s fastest growing borough and one of its liveliest areas.
Brooklyn (1) (1)

Click on a link below to find our other infographics:

Brooklyn: Population Facts & Statistics

The US population has grown at a rate of about 1% every year for the last 60 years. This trend has been incredibly stable, and while the nation’s birth rate has fallen recently, rising immigration rates mean our total growth shows no signs of slowing down.

Compared to that steady increase, Brooklyn’s population changes look practically volatile:

In 2013, Brooklyn was home to 2.483 million residents, a 0.24% increase over the previous year. The borough’s population grew by an average of 0.55% for the next six years, only to shrink with a loss of 2.2%, or 57,000 people, between 2009 and 2010.

Since then, Brooklyn has surged well past national growth, posting population increases of 1.24%, 1.06% and 0.93% in 2011, 2012 and 2013. During that period, the US population grew by only 0.74% every year.

Home Prices

The cost of housing, on the other hand, almost never stopped rising. In 2005, the median home value in Brooklyn was $429,000. Check out how much its increased since then:

  • In 2006, it rose by 12% to $481,000
  • In 2007, it rose by 4.75% to $504,000
  • In 2008, it fell by 1.2% to $498,000
  • In 2009, it plummeted by 7% to $463,000
  • In 2010, it rose by 4.1% to $482,000
  • In 2011, there was a modest increase of 1.2% to $488,000

After that, all bets were off:

  • By 2012, the median home value had grown 4.9% to $512,000
  • 2013 saw an increase of 8.8% to $557,000

2014 was a banner year for realtors in Brooklyn. By October, the median home value had jumped by 13.1% to a whopping $630,000.

A “median” is right in the middle. In other words, you’re just as likely to pay less than the median as you are to pay more than the median.

Median Household Income

But while many people really want to live in Brooklyn, the borough’s incomes have stagnated well below the national level.

In 1990, the median income in Brooklyn was $45,921. Adjusting for inflation, it had actually fallen to $44,282 by 2000. For 2012, the median income in Brooklyn had grown, but only by 2.11% to $45,215.

For comparison, the median income in the US was $51,371 in 2012. That’s almost 14% higher than in Brooklyn.

It would take almost 14 years, saving every penny, for someone in Brooklyn making the median income to pay off the entire value of the median home.

Poverty

Meanwhile, poverty is rampant in the borough.

Defined every year as a threshold by the US Census Bureau, “poverty” meant making under $12,316 for a one person household in 2014. While this number changes annually to account for inflation, it’s represented the same purchasing power year to year since at least 2005.

Take a look at the national poverty rate:

  • 2005 : 12.6%
  • 2006 : 12.3%
  • 2007 : 13%
  • 2008 : 13.2%
  • 2009 : 14.3%
  • 2010 : 15.3%
  • 2011 : 15.9%
  • 2012 : 16%

More and more people fall below the threshold every year. And while Brooklyn’s rate is more stable, it’s consistently 50% higher:

  • 2005 : 23.7%
  • 2006 : 23.6%
  • 2007 : 24.1%
  • 2008 : 22.3%
  • 2009 : 23.1%
  • 2010 : 24.4%
  • 2011 : 24.0%
  • 2012 : 23.3%

But rapid gentrification in pockets of Brooklyn means that incomes in certain neighborhoods, like Williamsburg, continue to skyrocket.

In 1990, the median income in Williamsburg ranged from $25,000 to $55,000. By 2012, that range had increased to between $53,000 and $80,000. Notice that the low point of the new range is nearly more than the high point of the old.

Contact Brooklyn’s Personal Injury Lawyers

No matter where you fall on the broad spectrum of Brooklyn’s residents, the personal injury attorneys at Banville Law want to help.

If you were injured, and believe that someone else’s negligence caused your accident, we urge you to contact our lawyers today. You may have a valid claim for damages, but you’ll never know until you call.

In a free consultation, you can describe your situation and receive the trusted legal answers that our clients have come to expect. There’s no charge, and you don’t have to hire us afterwards. Just proven guidance from New York’s leading personal injury lawyers.

Call (917) 551-6690 or fill out our contact form to begin making the best decisions for your future.