Manhattan is one of the five boroughs of New York City, but it also has its own districts and depending on which you are looking for real estate in, the prices can vary greatly. The most popular places, like Midtown, Greenwich or Uptown are very sought after and there you will not find affordable manhatten real estate, not even now during a financial crisis. The average income in this borough is also one of the highest in the United States and so people are still able to pay higher property prices.

However, certain neighborhoods in Manhattan are different from the financial, political and entertainment centers and these areas still have real estate properties for sale that is less expensive. Such neighborhoods include Washington Heights, Harlem, Murray Hill and Gramercy Park, to mention just a few. Although real estate may be more affordable in these neighborhoods of Manhattan, you are still right near all of the major city attractions and can easily travel to anywhere else in this borough. You can also look for older buildings that need to be renovated, which are plentiful in many older neighborhoods of Manhattan, since these are also cheaper to purchase.