New York, NY
Kings County · Pop. 8,258,035
Ranked #231 of 243 cities
14Crisis
Median Home Price
🏠$780K
3.5% YoY
Median Rent
🔑$2,800
3.0% YoY
Median Income
💰$72K
Rent Burden
📊42.0%
% of income to rent
Income to Buy
🏦$224K
annual income needed
Income to Rent
📝$112K
annual income needed
Price-to-Income
⚖️10.8x
Homeownership
🏡32.0%
Rent vs. Buy
Buy
$4,151/mo
Est. mortgage (7%, 20% down)
Need $224K/yr income
Rent
$2,800/mo
Median rent
Need $112K/yr income
How New York Compares
| Metric | New York | New York | National |
|---|---|---|---|
| Home Price | $780K | $420K | $410K |
| Rent | $2,800 | $1,561 | $1,500 |
| Income | $72K | $82K | $75K |
| Rent Burden | 42.0% | 39.5% | 30.0% |
Key Takeaways
- • Home prices in New York are 90% higher than the national average.
- • Rent is 87% higher than the national average.
- • You need an income of $224K to comfortably buy a home here.
- • The homeownership rate is 32.0%, compared to 65.0% nationally.