Rome, New York Housing Market Prices
Rome 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 69% below the New York median$147,793
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Median rent 44% below the New York median$909
Housing Market Overview
| Metric | Rome | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $147,793 | $471,885 | $248,835 |
| Price Trend (Annual %) | 4.3% | 7.1% | 7.5% |
| Median Gross Rent | $909 | $1,621 | $1,407 |
| Rent Trend (Annual %) | 3.0% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rome is about 69% lower than in New York. Rent is about 44% 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 Rome, up about 4.3% and 3.0% a year respectively. Home prices are changing faster.
Median rent in Rome rose about 27.5% between 2015 and 2024, from $713 to $909. Over the same span, rent in New York rose about 43.2%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Rome.
Buying the median-priced home in Rome costs roughly 13.5 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 Rome. The price-to-rent ratio in New York is about 24.3.
| Metric | Rome | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $147,793 | $471,885 | $248,835 |
| Median Household Income | $59,967 | $86,556 | $80,455 |
| Price-to-Income Ratio | 2.5 | 5.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Rome rose about 113.7%, while median household income rose about 41.9% 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 | Rome | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 51.4% | 48.8% | 58.5% |
| Rental Rate | 39.3% | 41.1% | 31.2% |
| Vacancy Rate | 9.3% | 10.1% | 10.2% |
| Median Tenure (years) | 16.0 | 17.0 | 15.0 |
| Median Year Moved In | 2010 | 2009 | 2011 |
Rome has a homeownership rate of 51.4%, higher than the New York average of 48.8%. Its housing vacancy rate is 9.3%, compared with 10.1% in New York.
Housing Stock
| Metric | Rome | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.14 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1956 | 1960 | 1978 |
| Median Number of Rooms | 5.5 | 5.0 | 5.5 |
The typical housing unit in Rome was built around 1956. On average, 2.1 people live in a home with about 5.5 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Rome, New York.
What is the median home price in Rome, New York?
The median home price in Rome, New York is $147,793, lower than the New York average of $471,885.
What is the average home price in Rome, New York?
The typical home price in Rome, New York, reported as the median sale price, is $147,793. 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 Rome, New York?
The median gross rent in Rome, New York is $909 per month, lower than the New York average of $1,621.
What was the median gross rent in Rome in 2020?
In 2020, the median gross rent in Rome, New York was $778 per month.
What is the price-to-rent ratio in Rome, New York?
The price-to-rent ratio in Rome, New York is about 13.5, meaning it would take roughly 13.5 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 Rome.
Are home prices or rent rising faster in Rome, New York?
Both home prices and rent are rising in Rome, up about 4.3% and 3.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Rome, New York?
51.4% of households in Rome, New York own their home, higher than the New York average of 48.8%.
What is the vacancy rate in Rome, New York?
The housing vacancy rate in Rome, New York is 9.3%, lower than the New York average of 10.1%.
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