Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Dutchess County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $261,234 | $436,407 | $242,182 |
| Price Trend (Annual %) | 6.3% | 6.9% | 8.2% |
| Median Gross Rent | $1,522 | $1,576 | $1,342 |
| Rent Trend (Annual %) | 4.2% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Dutchess County is about 40% lower than in New York. Rent is about 3% lower than the New York average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Dutchess County, up about 6.3% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Dutchess County rose about 34.7% between 2015 and 2023, from $1,130 to $1,522. Over the same span, rent in New York rose about 39.2%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Dutchess County.
Buying the median-priced home in Dutchess County costs roughly 14.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Dutchess County. The price-to-rent ratio in New York is about 23.1.
| Metric | Dutchess County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $261,234 | $436,407 | $242,182 |
| Median Household Income | $97,659 | $85,191 | $78,145 |
| Price-to-Income Ratio | 2.7 | 5.1 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Dutchess County rose about 64.9%, while median household income rose about 42.7% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Dutchess County | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.7% | 48.7% | 58.2% |
| Rental Rate | 29.3% | 41.1% | 31.3% |
| Vacancy Rate | 6.1% | 10.2% | 10.6% |
| Median Tenure (years) | 18.0 | 17.0 | 15.0 |
| Median Year Moved In | 2008 | 2009 | 2011 |
Dutchess County has a homeownership rate of 64.7%, higher than the New York average of 48.7%. Its housing vacancy rate is 6.1%, compared with 10.2% in New York.
Housing Stock
| Metric | Dutchess County | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.43 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1969 | 1960 | 1978 |
| Median Number of Rooms | 5.9 | 5.0 | 5.5 |
The typical housing unit in Dutchess County was built around 1969. On average, 2.4 people live in a home with about 5.9 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Dutchess County, New York.
What is the median home price in Dutchess County, New York?
The median home price in Dutchess County, New York is $261,234, lower than the New York average of $436,407.
What is the average home price in Dutchess County, New York?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Dutchess County, New York?
The median gross rent in Dutchess County, New York is $1,522 per month, lower than the New York average of $1,576.
What was the median gross rent in Dutchess County in 2020?
In 2020, the median gross rent in Dutchess County, New York was $1,236 per month.
What is the price-to-rent ratio in Dutchess County, New York?
The price-to-rent ratio in Dutchess County, New York is about 14.3, meaning it would take roughly 14.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Dutchess County.
Are home prices or rent rising faster in Dutchess County, New York?
Both home prices and rent are rising in Dutchess County, up about 6.3% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Dutchess County, New York?
64.7% of households in Dutchess County, New York own their home, higher than the New York average of 48.7%.
What is the vacancy rate in Dutchess County, New York?
The housing vacancy rate in Dutchess County, New York is 6.1%, lower than the New York average of 10.2%.