Herkimer County, New York Housing Market Prices
Herkimer County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 87% below the New York median Cheapest county in New York$63,440
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Median rent 49% below the New York median Cheaper than 92% of counties in New York$822
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Herkimer County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $63,440 | $471,885 | $248,835 |
| Price Trend (Annual %) | -1.0% | 7.1% | 7.5% |
| Median Gross Rent | $822 | $1,621 | $1,407 |
| Rent Trend (Annual %) | 3.3% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Herkimer County is about 87% lower than in New York. Rent is about 49% lower than the New York average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Herkimer County: home prices fell about 1.0% a year while rent rose about 3.3% a year. That is an unusual pattern worth watching.
Median rent in Herkimer County rose about 32.2% between 2015 and 2024, from $622 to $822. Over the same span, rent in New York rose about 43.2%.
Affordability
On average, housing unit costs 0.9 yearly household incomes in Herkimer County.
Buying the median-priced home in Herkimer County costs roughly 6.4 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 Herkimer County. The price-to-rent ratio in New York is about 24.3.
| Metric | Herkimer County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $63,440 | $471,885 | $248,835 |
| Median Household Income | $67,728 | $86,556 | $80,455 |
| Price-to-Income Ratio | 0.9 | 5.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Herkimer County fell about 15.8%, while median household income rose about 53.7% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Herkimer County | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.4% | 48.8% | 58.5% |
| Rental Rate | 18.8% | 41.1% | 31.2% |
| Vacancy Rate | 20.7% | 10.1% | 10.2% |
| Median Tenure (years) | 18.0 | 17.0 | 15.0 |
| Median Year Moved In | 2008 | 2009 | 2011 |
Herkimer County has a homeownership rate of 60.4%, higher than the New York average of 48.8%. Its housing vacancy rate is 20.7%, compared with 10.1% in New York.
Housing Stock
| Metric | Herkimer County | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.23 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1958 | 1960 | 1978 |
| Median Number of Rooms | 6.0 | 5.0 | 5.5 |
The typical housing unit in Herkimer County was built around 1958. On average, 2.2 people live in a home with about 6.0 rooms, staying for about 18.0 years on average.
Herkimer County, NY Housing Compared With Nearby Counties
Herkimer County, NY is the 2nd largest of the 4 counties compared here, 58,430 residents against a local median of 49,864. The measure that sets Herkimer County, NY apart most is median home price: $63,440, 56% below the local median of $143,943.
The counties themselves spread $53,932 on median home price, so Herkimer County, NY sits at one end of an already wide local range rather than apart from it. Herkimer County, NY has the 4th highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Herkimer County, NY | 58,430 | $63,440 #4/4 | $822 #4/4 | 76.2% #1/4 |
| Oneida County, NY | 229,092 | $143,943 | $944 | 67.7% |
| Fulton County, NY | 49,864 | $98,571 | $912 | 72.2% |
| Montgomery County, NY | 49,528 | $152,503 | $940 | 70.4% |
Frequently Asked Questions
Common questions about the housing market in Herkimer County, New York.
What is the median home price in Herkimer County, New York?
The median home price in Herkimer County, New York is $63,440, lower than the New York average of $471,885.
What is the average home price in Herkimer County, New York?
The typical home price in Herkimer County, New York, reported as the median sale price, is $63,440. 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 Herkimer County, New York?
The median gross rent in Herkimer County, New York is $822 per month, lower than the New York average of $1,621.
What was the median gross rent in Herkimer County in 2020?
In 2020, the median gross rent in Herkimer County, New York was $679 per month.
What is the price-to-rent ratio in Herkimer County, New York?
The price-to-rent ratio in Herkimer County, New York is about 6.4, meaning it would take roughly 6.4 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 Herkimer County.
Are home prices or rent rising faster in Herkimer County, New York?
Home prices and rent are moving in opposite directions in Herkimer County: home prices fell about 1.0% a year while rent rose about 3.3% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Herkimer County, New York?
60.4% of households in Herkimer County, New York own their home, higher than the New York average of 48.8%.
What is the vacancy rate in Herkimer County, New York?
The housing vacancy rate in Herkimer County, New York is 20.7%, higher than the New York average of 10.1%.
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