Historical data
Pick an indicator to see its long-run evolution.
Median home value
1990–2024Nominal median value of owner-occupied homes.
Home Prices
Home prices in New York rose sharply after 2020, though more slowly than in the Sun Belt states.
FHFA House Price Index
1975–2025FHFA all-transactions index, annual average of quarters. Source: FHFA via FRED (NYSTHPI).
| Indicator | New York | U.S. |
|---|---|---|
| Median sale price | $460,000 | $385,000 |
Median Home Value
The median home in New York is worth about $450,000, well above the national median, with a wide gap between the New York City metro and upstate.
Median value of owner-occupied homes
2008–2024Census American Community Survey 1-year estimates, B25077 (2020 not released).
| Indicator | New York | U.S. |
|---|---|---|
| Median home value | $450,000 | $340,000 |
Rent Prices
Median gross rent in New York is about $1,650 a month, with Manhattan and Brooklyn among the most expensive rental markets in the world.
Rent of primary residence index (New York–Newark–Jersey City)
2006–2025BLS CPI-U, New York–Newark–Jersey City, annual average (CUURS12ASEHA).
| Indicator | New York | U.S. |
|---|---|---|
| Median gross rent | $1,650 | $1,406 |
| Renter households | 46% | 35% |
Housing Inventory
New York has about 8.5 million housing units, one of the oldest housing stocks in the country.
Total housing units
2008–2024Census American Community Survey 1-year estimates, B25001 (2020 not released).
Vacant housing units
2008–2024Census American Community Survey 1-year estimates, B25002 (2020 not released).
| Indicator | New York | U.S. |
|---|---|---|
| Built pre-1980 | 71% | 56% |
| Multi-family share | 56% | 33% |
Building Permits
New York issues about 43,000 residential building permits a year, a low figure relative to its population.
New private housing units authorized
1988–2025Census Building Permits Survey, sum of 12 months (FRED NYBPPRIV).
| Indicator | New York | U.S. |
|---|---|---|
| Permits per 1,000 residents | 2.2 | 4.2 |
Homeownership Rate
New York has the second-lowest homeownership rate in the country, a direct consequence of New York City's rental market.
Homeownership rate (CPS/HVS)
1984–2025Census Housing Vacancy Survey, annual (FRED NYHOWN).
| Indicator | New York | U.S. |
|---|---|---|
| Homeownership rate | 54.1% | 65.2% |
Housing Affordability
Affordability is among the worst in the country: prices and rents are high relative to New York incomes, especially downstate.
Housing price level vs U.S. (RPP rents)
2008–2024BEA Regional Price Parities, housing services (SARPP line 3).
| Indicator | New York | U.S. |
|---|---|---|
| Housing price level vs U.S. (RPP rents)2024, BEA Regional Price Parities | 122.2 | 100 |
| Price-to-income ratio | 5.5 | 4.2 |
| Cost-burdened renters | 51% | 50% |
Vacancy Rate
New York's overall vacancy rate is 10.4%, including seasonal homes upstate; the rental vacancy rate in New York City is far tighter.
Rental vacancy rate
1986–2025Census Housing Vacancy Survey, annual (FRED NYRVAC).
Homeowner vacancy rate
1986–2025Census Housing Vacancy Survey, annual (FRED NYHVAC).
| Indicator | New York | U.S. |
|---|---|---|
| Overall vacancy rate | 10.4% | 10.6% |