What is the Best Neighborhoods USA ranking for Chelsea?
Chelsea is ranked #48 of 199 eligible neighborhoods in New York; #116 of 418 eligible neighborhoods in NY; and #4,090 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Chelsea
New York, NY | New York County
Scored premium profile
Best Neighborhoods USA Index
59.9
Stability and Strength
55.6
Value Opportunity
37.4
Momentum
98.1
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | New York, NY |
| County | New York County |
| National rank | #4,090 of 14,967 |
| State rank | #116 of 418 |
| City rank | #48 of 199 |
| County rank | #5 of 24 |
| National percentile | 72.7 |
| National band | MIDDLE_50_PERCENT |
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Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $4,059,854 |
| Year-over-year home value change | 12.6% |
| Month-over-month home value change | 1.03% |
| Home value to income ratio | 36.43 |
| Median household income | $111,447 |
| Bachelor's degree or higher | 74.0% |
| Civilian unemployment rate | 5.5% |
| Homeownership rate | 29.6% |
| Housing vacancy rate | 17.7% |
| Rent burden 30% or higher | 42.4% |
How to read this profile
- Ranks are always shown with denominators.
- Momentum reflects both year-over-year and month-over-month housing change.
- Stability and Strength and Value Opportunity are governed composite scores.
- Identity composition is descriptive intelligence and is not a scoring component.
Questions and Answers
Questions About Living in Chelsea
Is Chelsea one of the best neighborhoods in New York?
Chelsea has a Best Neighborhoods USA Index of 59.9 and a city ranking of #48 of 199 eligible neighborhoods in New York.
How much are homes worth in Chelsea?
The current Zillow Home Value Index for Chelsea is approximately $4,059,854.
Are home values rising or falling in Chelsea?
Zillow neighborhood values changed 12.6% year over year and 1.03% month over month.
What is the Neighborhood Momentum Score for Chelsea?
Chelsea has a Neighborhood Momentum Score of 98.1. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Chelsea?
The NDS-derived neighborhood median household income is approximately $111,447.
How affordable is Chelsea relative to household income?
The current Zillow home-value-to-household-income ratio is 36.43. Price-to-income affordability is a major Value Opportunity input.
Is Chelsea primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 29.6%.
What is the unemployment rate in Chelsea?
The NDS-derived civilian unemployment rate is approximately 5.5%.
How educated are residents of Chelsea?
Approximately 74.0% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Chelsea face high rent burden?
Approximately 42.4% of the applicable renter-household universe is estimated to spend 30% or more of household income on gross rent.
How does Best Neighborhoods USA score Chelsea?
The overall index combines 40% Stability and Strength, 35% Value Opportunity, and 25% Momentum. Race, ethnicity, and identity composition are not scoring components.
Governed ranking context
How this neighborhood ranks
HMDA Mortgage Intelligence
Neighborhood Mortgage Market
Modeled neighborhood-level mortgage activity allocated from governed HMDA tract data using Zillow neighborhood geometry. These neighborhood values are nonadditive and do not enter the Best Neighborhoods USA Index.
Activity year2024
Estimated applications505
Estimated originations314
Home-purchase applications357
Origination rate62.2%
Home-purchase share70.6%
Average application loan$2,770,247
Total application loan amount$1,398,790,735
National application rank#547 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications 2.9% YoY; originations 7.0% YoY
Mortgage methodology
HMDA is natively reported at tract and other lender-reporting geographies, not Zillow neighborhood or ZIP geography. This module uses the certified NDS HMDA-to-Zillow tract-vintage crosswalk and area-weighted allocation. Rankings require governed geometry coverage. Applicant demographics are excluded. Neighborhood values may overlap and must not be summed to reconstruct ZIP or national totals.