Otsego County, New York Housing Market Prices
Otsego 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 66% below the New York median$162,202
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Median rent 39% below the New York median$986
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Otsego County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $162,202 | $471,885 | $248,835 |
| Price Trend (Annual %) | 6.3% | 7.1% | 7.5% |
| Median Gross Rent | $986 | $1,621 | $1,407 |
| Rent Trend (Annual %) | 3.1% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Otsego County is about 66% lower than in New York. Rent is about 39% lower 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 Otsego County, up about 6.3% and 3.1% a year respectively. Home prices are changing faster.
Median rent in Otsego County rose about 27.2% between 2015 and 2024, from $776 to $986. Over the same span, rent in New York rose about 43.2%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Otsego County.
Buying the median-priced home in Otsego County costs roughly 13.7 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 Otsego County. The price-to-rent ratio in New York is about 24.3.
| Metric | Otsego County | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $162,202 | $471,885 | $248,835 |
| Median Household Income | $69,866 | $86,556 | $80,455 |
| Price-to-Income Ratio | 2.3 | 5.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Otsego County rose about 72.2%, while median household income rose about 49.4% 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 | Otsego County | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.0% | 48.8% | 58.5% |
| Rental Rate | 20.2% | 41.1% | 31.2% |
| Vacancy Rate | 22.8% | 10.1% | 10.2% |
| Median Tenure (years) | 18.0 | 17.0 | 15.0 |
| Median Year Moved In | 2008 | 2009 | 2011 |
Otsego County has a homeownership rate of 57.0%, higher than the New York average of 48.8%. Its housing vacancy rate is 22.8%, compared with 10.1% in New York.
Housing Stock
| Metric | Otsego County | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.34 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1960 | 1960 | 1978 |
| Median Number of Rooms | 6.1 | 5.0 | 5.5 |
The typical housing unit in Otsego County was built around 1960. On average, 2.3 people live in a home with about 6.1 rooms, staying for about 18.0 years on average.
Otsego County, NY Housing Compared With Nearby Counties
Otsego County, NY is the 2nd largest of the 6 counties compared here, 60,108 residents against a local median of 46,321. There is no headline here. Every measure below sits within 15% of the median across the nearest counties, which makes Otsego County, NY an unremarkable member of its own neighbourhood rather than an outlier in it.
The largest of those small differences is median rent, 8% above the local median at $986 against $909. Otsego County, NY has the highest median rent of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Otsego County, NY | 60,108 | $162,202 #2/6 | $986 #1/6 | 73.9% #5/6 |
| Delaware County, NY | 44,487 | $165,865 | $880 | 77.3% |
| Schoharie County, NY | 30,049 | $154,687 | $909 | 76.4% |
| Chenango County, NY | 46,321 | $79,630 | $875 | 75.4% |
| Montgomery County, NY | 49,528 | $152,503 | $940 | 70.4% |
| Madison County, NY | 67,325 | $161,813 | $927 | 78.3% |
Frequently Asked Questions
Common questions about the housing market in Otsego County, New York.
What is the median home price in Otsego County, New York?
The median home price in Otsego County, New York is $162,202, lower than the New York average of $471,885.
What is the average home price in Otsego County, New York?
The typical home price in Otsego County, New York, reported as the median sale price, is $162,202. 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 Otsego County, New York?
The median gross rent in Otsego County, New York is $986 per month, lower than the New York average of $1,621.
What was the median gross rent in Otsego County in 2020?
In 2020, the median gross rent in Otsego County, New York was $826 per month.
What is the price-to-rent ratio in Otsego County, New York?
The price-to-rent ratio in Otsego County, New York is about 13.7, meaning it would take roughly 13.7 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 Otsego County.
Are home prices or rent rising faster in Otsego County, New York?
Both home prices and rent are rising in Otsego County, up about 6.3% and 3.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Otsego County, New York?
57.0% of households in Otsego County, New York own their home, higher than the New York average of 48.8%.
What is the vacancy rate in Otsego County, New York?
The housing vacancy rate in Otsego County, New York is 22.8%, higher than the New York average of 10.1%.
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