New York
Ranked #49 of 51 for housing affordability
Median Home Price
🏠$420K
5.12x income
Median Rent
🔑$1,561
39.5% rent-burdened
Median Income
💰$82K
Population: 19,677,151
Homeownership
🏡54.0%
103,200 experiencing homelessness
Housing Shortage
📉600,000
units needed
Building Permits (2024)
🔨46,549
Price-to-Income
📊5.12x
Severe Rent Burden
⚠️22.0%
paying >50% of income
Rent Burden Breakdown
vs. National Average
House Price Index (2000–2025)
FHFA All-Transactions HPI · Base = 100 (1980s)
HUD Fair Market Rents (FY2026)
Maximum rent HUD considers fair for Section 8 voucher holders
FMR ($2374) is above the state median rent ($1561) — vouchers cover typical rents.
Metros in New York
| Metro | Score | Home Price | Rent | Income | Rent Burden |
|---|---|---|---|---|---|
| New York | 15 | $610K | $1,764 | $95K | 41.5% |
| Buffalo | 70 | $233K | $1,054 | $70K | 31.0% |
| Rochester | 72 | $309K | $1,271 | $85K | 30.5% |
| Albany | 60 | $164K | $858 | $53K | 30.5% |
| Syracuse | 72 | $189K | $1,067 | $73K | 31.5% |
| Kiryas Joel-Poughkeepsie-Newburgh | 79 | $393K | $1,610 | $96K | 26.9% |
| Utica-Rome | 92 | $173K | $919 | $62K | 18.6% |
| Binghamton | 95 | $157K | $921 | $64K | 27.5% |
| Kingston | 77 | $373K | $1,363 | $86K | 31.9% |
| Glens Falls | 88 | $233K | $988 | $73K | 25.7% |
| Watertown-Fort Drum | 90 | $184K | $1,227 | $62K | 13.5% |
| Ithaca | 81 | $263K | $1,383 | $67K | 31.6% |
| Elmira | 97 | $140K | $1,013 | $60K | 33.2% |
Market Trends
Homeownership Rate
54.0%
Rent-to-Income Ratio
23.0%
of gross income spent on rent
Total Households
7,809,267
Owner-Occupied
4,221,669
Renter-Occupied
3,587,598
Homelessness
Latest Count (2024)
158,019
1-Year Change
+53.1%
10-Year Trend (2015–2024)
+79.1%
88,250 → 158,019
Housing Policies
Construction Activity
Total Permits (2024)
46,549
3.3% of national total
Single-Family
10,453
22% of state permits
Multi-Family
36,096
78% of state permits
Mortgage Access
National HMDA data — mortgage denial rates by race/ethnicity
Denial Rates by Race
Top Denial Reasons
Housing Shortage
State Shortage
600,000
units needed
National Shortage
7,300,000
8.2% of national total
Affordable Units per 100 ELI Renters
35
nationally (NLIHC)
National Shortage by Unit Type
45%
Single-Family
18%
Small Multi (2-4)
22%
Medium Multi (5-49)
15%
Large Multi (50+)
Rent Burden Detail
New York burden rates with national demographic breakdown
Cost-Burdened Renters
39.5%
paying >30% of income
Severely Burdened
22.0%
paying >50% of income
Households >30% Burden
960,230
Households >35% Burden
198,257