New York County, New York Housing Market Prices
New York 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.
-
Median home price 188% above the New York median Most expensive county in New York$1,358,349
-
Median rent 36% above the New York median Among the 3 most expensive counties in New York$2,197
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | New York County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,358,349 | $471,885 | $248,835 |
| Price Trend (Annual %) | 3.1% | 7.1% | 7.5% |
| Median Gross Rent | $2,197 | $1,621 | $1,407 |
| Rent Trend (Annual %) | 4.3% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in New York County is about 188% higher than in New York. Rent is about 36% 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 New York County, up about 3.1% and 4.3% a year respectively. Rent is changing faster.
Median rent in New York County rose about 44.5% between 2015 and 2024, from $1,520 to $2,197. Over the same span, rent in New York rose about 43.2%.
Affordability
On average, housing unit costs 12.9 yearly household incomes in New York County.
Buying the median-priced home in New York County costs roughly 51.5 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 New York County. The price-to-rent ratio in New York is about 24.3.
| Metric | New York County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,358,349 | $471,885 | $248,835 |
| Median Household Income | $105,051 | $86,556 | $80,455 |
| Price-to-Income Ratio | 12.9 | 5.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in New York County rose about 33.3%, while median household income rose about 56.0% 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 | New York County | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 21.1% | 48.8% | 58.5% |
| Rental Rate | 63.2% | 41.1% | 31.2% |
| Vacancy Rate | 15.7% | 10.1% | 10.2% |
| Median Tenure (years) | 15.0 | 17.0 | 15.0 |
| Median Year Moved In | 2011 | 2009 | 2011 |
New York County has a homeownership rate of 21.1%, lower than the New York average of 48.8%. Its housing vacancy rate is 15.7%, compared with 10.1% in New York.
Housing Stock
| Metric | New York County | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.00 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1958 | 1960 | 1978 |
| Median Number of Rooms | 3.3 | 5.0 | 5.5 |
The typical housing unit in New York County was built around 1958. On average, 2.0 people live in a home with about 3.3 rooms, staying for about 15.0 years on average.
New York County, NY Housing Compared With Nearby Counties
New York County, NY is the 3rd largest of the 6 counties compared here, 1,628,057 residents against a local median of 1,403,126. Where New York County, NY breaks from the counties next to it is median home price, sitting 129% above the local median of $592,908 at $1,358,349.
Homeownership tells the same story from another angle: 25.1% against a local median of 30.7%, 18% below it. The one measure here that carries a verdict is homeownership, and at 18% below the local median it puts New York County, NY at the weaker end of the local range. The counties themselves spread $674,546 on median home price, so New York County, NY sits at one end of an already wide local range rather than apart from it. New York County, NY has the highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| New York County, NY | 1,628,057 | $1,358,349 #1/6 | $2,197 #1/6 | 25.1% #5/6 |
| Hudson County, NJ | 717,070 | $432,092 | $1,892 | 30.7% |
| Bronx County, NY | 1,403,126 | $302,664 | $1,457 | 20.1% |
| Kings County, NY | 2,630,245 | $977,210 | $1,832 | 29.5% |
| Queens County, NY | 2,320,290 | $678,074 | $1,955 | 44.9% |
| Bergen County, NJ | 960,507 | $592,908 | $1,913 | 65.3% |
Frequently Asked Questions
Common questions about the housing market in New York County, New York.
What is the median home price in New York County, New York?
The median home price in New York County, New York is $1,358,349, higher than the New York average of $471,885.
What is the average home price in New York County, New York?
The typical home price in New York County, New York, reported as the median sale price, is $1,358,349. 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 New York County, New York?
The median gross rent in New York County, New York is $2,197 per month, higher than the New York average of $1,621.
What was the median gross rent in New York County in 2020?
In 2020, the median gross rent in New York County, New York was $1,786 per month.
What is the price-to-rent ratio in New York County, New York?
The price-to-rent ratio in New York County, New York is about 51.5, meaning it would take roughly 51.5 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 New York County.
Are home prices or rent rising faster in New York County, New York?
Both home prices and rent are rising in New York County, up about 3.1% and 4.3% a year respectively. Rent is changing faster.
What is the homeownership rate in New York County, New York?
21.1% of households in New York County, New York own their home, lower than the New York average of 48.8%.
What is the vacancy rate in New York County, New York?
The housing vacancy rate in New York County, New York is 15.7%, higher than the New York average of 10.1%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →