Brooklyn is one of several New York boroughs where home values have skyrocketed, with a current median sales price of $888,000. Home insurance rates in Brooklyn average $1,656 per year for $250,000 in-home coverage, which is well above the current national average of $1,383 per year. However, if your home is worth close to the median value of $888,000, your insurance bill is likely to be much higher.