Medford, New York Housing Market Prices
Medford 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 32% above the New York median$624,987
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Median rent 45% above the New York median$2,352
Housing Market Overview
| Metric | Medford | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $624,987 | $471,885 | $248,835 |
| Price Trend (Annual %) | 7.5% | 7.1% | 7.5% |
| Median Gross Rent | $2,352 | $1,621 | $1,407 |
| Rent Trend (Annual %) | 3.5% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Medford is about 32% higher than in New York. Rent is about 45% higher than the New York average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Medford, up about 7.5% and 3.5% a year respectively. Home prices are changing faster.
Median rent in Medford rose about 35.8% between 2015 and 2024, from $1,732 to $2,352. Over the same span, rent in New York rose about 43.2%.
Affordability
On average, housing unit costs 4.9 yearly household incomes in Medford.
Buying the median-priced home in Medford costs roughly 22.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Medford. The price-to-rent ratio in New York is about 24.3.
| Metric | Medford | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $624,987 | $471,885 | $248,835 |
| Median Household Income | $128,355 | $86,556 | $80,455 |
| Price-to-Income Ratio | 4.9 | 5.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Medford rose about 127.3%, while median household income rose about 27.7% between 2009 and 2025 — 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 | Medford | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 82.8% | 48.8% | 58.5% |
| Rental Rate | 10.9% | 41.1% | 31.2% |
| Vacancy Rate | 6.3% | 10.1% | 10.2% |
| Median Tenure (years) | 16.0 | 17.0 | 15.0 |
| Median Year Moved In | 2010 | 2009 | 2011 |
Medford has a homeownership rate of 82.8%, higher than the New York average of 48.8%. Its housing vacancy rate is 6.3%, compared with 10.1% in New York.
Housing Stock
| Metric | Medford | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 3.09 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1977 | 1960 | 1978 |
| Median Number of Rooms | 6.7 | 5.0 | 5.5 |
The typical housing unit in Medford was built around 1977. On average, 3.1 people live in a home with about 6.7 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Medford, New York.
What is the median home price in Medford, New York?
The median home price in Medford, New York is $624,987, higher than the New York average of $471,885.
What is the average home price in Medford, New York?
The typical home price in Medford, New York, reported as the median sale price, is $624,987. 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 Medford, New York?
The median gross rent in Medford, New York is $2,352 per month, higher than the New York average of $1,621.
What was the median gross rent in Medford in 2020?
In 2020, the median gross rent in Medford, New York was $2,093 per month.
What is the price-to-rent ratio in Medford, New York?
The price-to-rent ratio in Medford, New York is about 22.1, meaning it would take roughly 22.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Medford.
Are home prices or rent rising faster in Medford, New York?
Both home prices and rent are rising in Medford, up about 7.5% and 3.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Medford, New York?
82.8% of households in Medford, New York own their home, higher than the New York average of 48.8%.
What is the vacancy rate in Medford, New York?
The housing vacancy rate in Medford, New York is 6.3%, lower than the New York average of 10.1%.
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