Pawn Shops vs Payday Loans in Brooklyn, NY

49 pawn shops in and around Brooklyn — 1.9 per 100,000 residents, compared with 1.6 across New York. Call ahead to ask what they're buying and lending on today: inventory needs change weekly. Brooklyn ranks #22 of 36 New York cities with pawn shops by shops per resident.

Pawn shops

49

Pawn shops per 100k

1.9

New York: 1.6

Big-chain shops

11

Payday & loan stores

0

Population

2,646,164

Pawn shops in Brooklyn: addresses and phone numbers

Pawn shops vs payday loan stores in Brooklyn

Brooklyn has 49 pawn shops, and we found no storefront payday loan chains.

Borrowing $500 for one month: payday vs pawn vs credit union

Payday cost, share of monthly household income in Brooklyn

2.2%

Pawn cost, share of monthly household income in Brooklyn

1.5%

A $400 emergency equals

1.8 days of income

Payday: a typical fee of $75 on a $500 loan for 2 weeks, paid twice for a one-month loan (New York payday rules are not set in dollars or payday loans are not allowed). Pawn: an example rate of 20% a month; pawn fees and interest are set by New York law and vary by shop — ask for the total in writing. PAL: payday alternative loan from a federal credit union, capped at 28% APR plus an application fee of up to $20.

Pawn loan vs payday loan: the key differences

Brooklyn at a glance

Median household income

$82,649

New York: $93,193

Poverty rate

18.9%

New York: 13.8%

Households under $25,000

19.6%

New York: 16.1%

A $400 emergency equals

1.8 days of income

Pawn shops near Brooklyn

• Ridgewood · 2
• Ozone Park · 3
• New York · 40
• Elmhurst · 2