New York
New York · Ranked #368 of 373 metros
15Crisis
💡
Housing in New York costs 6.41× the median income, above the national average of 4.5×. The median home price is $610K and median rent is $1,764/month. New York ranks #368 of 373 metros for affordability.
Median Home Price
🏠$610K
Need $195K income
Median Rent
🔑$1,764
Need $96K income
Housing Shortage
📉340,000
units needed
Building Permits
🔨35,000
annual
Median Income
💰$95K
Pop: 19,979,477
Rent Burden
⚠️41.5%
of renters paying >30%
Price Change (YoY)
📈+4.2%
Homeownership
🏡51.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | New York | National |
|---|---|---|
| Price-to-Income Ratio | 6.41x | 6.1x |
| Rent Burden | 41.5% | 31.5% |
| Homeownership Rate | 51.0% | 65.5% |
| YoY Price Change | +4.2% | +3.5% |
| YoY Rent Change | +3.8% | +2.8% |
| Mortgage Denial Rate | 18.5% | 13.5% |
| Eviction Rate | 3.2% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +52.1%Since 2000: +211.9%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$2,529/mo
1 Bedroom$2,655/mo
2 Bedroom$2,910/mo
3 Bedroom$3,644/mo
4 Bedroom$3,959/mo
Zillow Market Data
Home Value (ZHVI)
$707K
1yr: +3.9%5yr: +31.5%
Rent (ZORI)
$3,258/mo
1yr: +4.2%5yr: +45.7%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$1.3M
Active Inventory
522
Days on Market
84
Sold Above List
20.0%
Price Drops
16.5%