Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$204,078+6.2% YoY · prices are rising fast
Market right nowBalanced, leaning sellersMore homes for sale than last year, 12% have cut their price
Income needed to buy, per year$44,240About 0.7× the local median income ($64,913): affordable for a typical household
Days on market67 daysAbout the same pace as a year ago
Next 12 months+3.6%Zillow expects prices to rise slightly
The typical home in Herkimer County, NY is worth $204,078, up 6.2% from a year ago. That is well above what local incomes have historically supported: fair value is about $168,925, so the area is 20.8% overvalued. It is a balanced market, leaning toward sellers: homes take about 67 days to sell, listings are up 23% from a year ago, 12% of listings have had a price cut. Zillow expects prices to rise about 3.6% over the next year. A household needs about $44,240 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $64,913. Typical rent is $1,250 a month, or $1,706 for a house. In the latest IRS figures, 63 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$204,078
Change in 1 year
+6.2%
Overvalued %
+20.8%
Show 7 more
Fair home value
$168,925
Change in 5 years
+39.7%
Zillow forecast, next 12 months
+3.6%
Home value to income
3.1×
Monthly mortgage payment (20% down)
$1,106
Income needed to afford it
$44,240
Property tax rate
2.10%
Rent and investing
Typical rent
$1,250
Typical rent for houses
$1,706
Price-to-rent ratio
13.6×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,210
Gross rental yield
7.35%
Cap rate (estimate)
4.78%
Market activity
Listings vs a year ago
+22.7%
Days on market
67
Listings with a price cut
11.9%
Show 3 more
Homes for sale
238
Pending sales per 100 listings
74
Asking price per sq ft
$146
People and jobs
Median household income
$64,913
Population change (1 year)
−0.3%
Unemployment rate
4.3%
Show 4 more
Population
59,219
Income adjusted for cost of living
$70,025
Net moves in (IRS)
−63
Cost of living (US = 100)
92.7
Schools, risk and environment
School rating (1 to 10)
4.0
FEMA hazard risk score (0 to 100)
60.0
Unhealthy air days a year
0
Show 4 more
Flood risk score
78.5
Wildfire risk score
25.7
Walkability (1 to 20)
5.6
Road, rail and air noise
53 dB
Questions people ask
Is Herkimer County, NY overvalued?
Home prices in Herkimer County, NY are well above what local incomes have historically supported: fair value is about $168,925, so the area is 20.8% overvalued.
Is Herkimer County, NY a buyer's or seller's market?
Herkimer County, NY is a balanced market, leaning toward sellers: homes take about 67 days to sell, listings are up 23% from a year ago, 12% of listings have had a price cut.
Are home prices going down in Herkimer County, NY?
Home values in Herkimer County, NY are up 6.2% over the last year. Zillow's forecast for the next 12 months is +3.6%.
How much do you need to earn to buy a home in Herkimer County, NY?
A household needs about $44,240 a year to afford the typical home in Herkimer County, NY at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $64,913.