Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$1,247,381+3.2% YoY · prices are rising fast
Market right nowBalanced, leaning sellersFewer homes for sale than last year, 10% have cut their price
Income needed to buy, per year$270,406About 2.6× the local median income ($105,713): hard to afford
Days on market58 daysFaster than a year ago: sellers have the edge
Next 12 months+2.8%Zillow expects prices to rise slightly
The typical home in New York County, NY is worth $1,247,381, up 3.2% from a year ago. That is well below what local incomes have historically supported: fair value is about $1,744,900, so the area is 28.5% undervalued. It is a balanced market, leaning toward sellers: homes take about 58 days to sell, listings are down 6% from a year ago, 10% of listings have had a price cut. Zillow expects prices to rise about 2.8% over the next year. A household needs about $270,406 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 $105,713. Typical rent is $4,779 a month, or $4,669 for a house. In the latest IRS figures, 11,821 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
$1,247,381
Change in 1 year
+3.2%
Overvalued %
−28.5%
Show 7 more
Fair home value
$1,744,900
Change in 5 years
−10.3%
Zillow forecast, next 12 months
+2.8%
Home value to income
11.8×
Monthly mortgage payment (20% down)
$6,760
Income needed to afford it
$270,406
Property tax rate
0.92%
Rent and investing
Typical rent
$4,779
Typical rent for houses
$4,669
Price-to-rent ratio
21.8×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$2,971
Gross rental yield
4.60%
Cap rate (estimate)
2.99%
Market activity
Listings vs a year ago
−6.2%
Days on market
58
Listings with a price cut
10.1%
Show 3 more
Homes for sale
6,227
Pending sales per 100 listings
28
Asking price per sq ft
$1,491
People and jobs
Median household income
$105,713
Population change (1 year)
−0.0%
Unemployment rate
7.6%
Show 4 more
Population
1,664,862
Income adjusted for cost of living
$93,884
Net moves in (IRS)
−11,821
Cost of living (US = 100)
112.6
Schools, risk and environment
School rating (1 to 10)
6.8
FEMA hazard risk score (0 to 100)
98.8
Unhealthy air days a year
6
Show 4 more
Flood risk score
99.2
Wildfire risk score
9.9
Walkability (1 to 20)
13.8
Road, rail and air noise
53 dB
Questions people ask
Is New York County, NY overvalued?
Home prices in New York County, NY are well below what local incomes have historically supported: fair value is about $1,744,900, so the area is 28.5% undervalued.
Is New York County, NY a buyer's or seller's market?
New York County, NY is a balanced market, leaning toward sellers: homes take about 58 days to sell, listings are down 6% from a year ago, 10% of listings have had a price cut.
Are home prices going down in New York County, NY?
Home values in New York County, NY are up 3.2% over the last year. Zillow's forecast for the next 12 months is +2.8%.
How much do you need to earn to buy a home in New York County, NY?
A household needs about $270,406 a year to afford the typical home in New York County, NY at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $105,713.