If you happen to have an extra $25 to $40 lying around, you might want to consider jumping into the digital real estate market and investing in a New York City domain name.

Since the .nyc domain went on the market in Oct. 2014, New York City has amassed more than 12,000 new domains a month. That makes the Big Apple the fastest-growing city-specific domain name on the market, according to Softnik Technologies’ Domain Punch.

In June 2011, the Internet Corporation for Assigned Names and Numbers (ICANN)--the nonprofit entity that oversees the Internet’s naming system--officially approved a plan to accept new domain applications in an effort to accommodate the Internet's expansion beyond traditional domains like .com and .net. Each application costs a hefty $185,000, in addition to thousands or potentially millions in annual costs for the domain’s setup and upkeep, CNN Money notes.

New York City’s geo-domain could be growing faster than its counterparts because the city’s government is promoting the domain’s rollout (and gets a cut for each new registration, the Washington Post reports). The growth is particularly impressive given that only people and organizations with physical addresses within the city’s five boroughs can purchase .nyc domains, whereas domains like .london aren’t restricted solely to residents.

The only city to top New York’s total number of registered Web addresses is Berlin, which became the first city to have its own domain name in March 2014 and accepted about 72,000 applications during a free two-day domain giveaway, the Post reports. Here's the international breakdown of domain registrations as of Thursday, April 2, 2015:

Total domain registrations:

  1. Berlin 153,440

  2. New York City 73,721

  3. London 58,366

  4. Tokyo 35,271

  5. Paris 16,256

Monthly domain registration growth:

  1. New York City 12,287

  2. Berlin 6,768

  3. London 4,864

  4. Paris 4,064

  5. Tokyo 3,919

There are a number of reasons why businesses might want to consider registering a location-specific domain name. For one, a .nyc domain name comes with a sense of exclusivity, marketing expert Bob Knorpp tells DNAinfo. They also give businesses the opportunity to snatch up domain names that might already be taken by a .com registration and boost your business' rankings in search results if search engines start priorritizing geo-specific domains.

City residents and businesses will know instantly that you're in close proximity, which could help build relationships with other local businesses and differentiate your business from those headquartered elsewhere. So if you're looking to associate your business with New York City (or any area with its own domain, for that matter), you might want to act fast.

Published on: Apr 6, 2015