New York housing market
Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$524,942+5.6% YoY · prices are rising fast
Market right nowSeller's marketMore homes for sale than last year, 12% have cut their price
Income needed to buy, per year$113,797About 1.3× the local median income ($85,768): a stretch for a typical household
Days on market60 daysAbout the same pace as a year ago
Next 12 months+3.0%Zillow expects prices to rise slightly
The typical home in New York is worth $524,942, up 5.6% from a year ago. That is well above what local incomes have historically supported: fair value is about $463,289, so the area is 13.3% overvalued. It is a seller's market: homes take about 60 days to sell, listings are up 9% from a year ago, 12% of listings have had a price cut. Zillow expects prices to rise about 3.0% over the next year. A household needs about $113,797 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 $85,768. In the latest IRS figures, 164,035 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 | $524,942 |
| Change in 1 year | +5.6% |
| Overvalued % | +13.3% |
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| Fair home value | $463,289 |
| Change in 5 years | +29.7% |
| Zillow forecast, next 12 months | +3.0% |
| Home value to income | 6.1× |
| Monthly mortgage payment (20% down) | $2,845 |
| Income needed to afford it | $113,797 |
| Property tax rate | 1.55% |
Rent and investing
| HUD Fair Market Rent, 2 bedrooms | $2,407 |
Market activity
| Listings vs a year ago | +8.9% |
| Days on market | 60 |
| Listings with a price cut | 12.3% |
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| Homes for sale | 42,656 |
| Pending sales per 100 listings | 53 |
| Asking price per sq ft | $379 |
People and jobs
| Median household income | $85,768 |
| Population change (1 year) | +0.0% |
| Unemployment rate | 6.4% |
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| Population | 20,002,427 |
| Income adjusted for cost of living | $79,488 |
| Net moves in (IRS) | −164,035 |
| Cost of living (US = 100) | 107.9 |
Schools, risk and environment
| FEMA hazard risk score (0 to 100) | 91.5 |
| Unhealthy air days a year | 4 |
| Flood risk score | 94.7 |
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| Wildfire risk score | 34.7 |
| Walkability (1 to 20) | 11.4 |
| Road, rail and air noise | 53 dB |
Questions people ask
- Is New York overvalued?
- Home prices in New York are well above what local incomes have historically supported: fair value is about $463,289, so the area is 13.3% overvalued.
- Is New York a buyer's or seller's market?
- New York is a seller's market: homes take about 60 days to sell, listings are up 9% from a year ago, 12% of listings have had a price cut.
- Are home prices going down in New York?
- Home values in New York are up 5.6% over the last year. Zillow's forecast for the next 12 months is +3.0%.
- How much do you need to earn to buy a home in New York?
- A household needs about $113,797 a year to afford the typical home in New York at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $85,768.
Metro areas
New York-Newark-Jersey City, NY-NJBuffalo-Cheektowaga, NYRochester, NYAlbany-Schenectady-Troy, NYKiryas Joel-Poughkeepsie-Newburgh, NYSyracuse, NYUtica-Rome, NYBinghamton, NYKingston, NYGlens Falls, NYWatertown-Fort Drum, NYIthaca, NYElmira, NY
Counties
Albany CountyAllegany CountyBronx CountyBroome CountyCattaraugus CountyCayuga CountyChautauqua CountyChemung CountyChenango CountyClinton CountyColumbia CountyCortland CountyDelaware CountyDutchess CountyErie CountyEssex CountyFranklin CountyFulton CountyGenesee CountyGreene CountyHamilton CountyHerkimer CountyJefferson CountyKings CountyLewis CountyLivingston CountyMadison CountyMonroe CountyMontgomery CountyNassau CountyNew York CountyNiagara CountyOneida CountyOnondaga CountyOntario CountyOrange CountyOrleans CountyOswego CountyOtsego CountyPutnam CountyQueens CountyRensselaer CountyRichmond CountyRockland CountySaint Lawrence CountySaratoga CountySchenectady CountySchoharie CountySchuyler CountySeneca CountySteuben CountySuffolk CountySullivan CountyTioga CountyTompkins CountyUlster CountyWarren CountyWashington CountyWayne CountyWestchester CountyWyoming CountyYates County