New York housing market
Typical home value
$731K
▲ 4.9% 1 yr
Typical rent
$3,546/mo
▲ 4.2% 1 yr
12-month forecast
+2.8%
#156 of 546 metros
Gross rent yield
5.8%
#290 of 546 · U.S. 6.3%
Days to pending
59 days
▲ +2 days 1 yr
Listings with a price cut
17%
▲ +1.3 pts 1 yr
Key takeaways
- 1The typical home is worth $730,949, up 4.9% in a year and up 28% over five years.
- 2Zillow forecasts home values rising 2.8% over the next 12 months (U.S.: +1.1%).
- 3Typical rent is $3,546/mo (+4.2% YoY), a 5.8% gross yield, below the U.S. 6.3%.
- 4At 7.32% with 20% down, the typical home costs $4,017/mo in principal and interest, $471 more than renting.
- 5Homes go under contract in 59 days (+2 days vs last year); 17% of listings have had a price cut.
Market temperature
Neutral market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 55/100, #79 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
How fast homes are selling
For saleNew listings
Affordability
To buy (20% down)To rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How New York compares
| Measure | New York | United States | Rank of 546 |
|---|---|---|---|
| Home value, 1-yr change | +4.9% | +1.2% | #71 |
| Home value, 5-yr change | +27.7% | +19.7% | |
| 12-month forecast | +2.8% | +1.1% | #156 |
| Rent, 1-yr change | +4.2% | +2.7% | #174 |
| Gross rent yield | 5.8% | 6.3% | #290 |
| Price-to-rent ratio | 17.2 | 15.8 | |
| Mortgage P&I on typical home | $4,017 | $2,012 | |
| Income needed to buy | $210,716 | $100,902 | |
| Days to pending | 59 | 56 |
Cities in the New York metro
94 cities with home value and rent data.
| New York | $826K | ▲ 4.3% | $4,089 | ▲ 5.2% | 5.9% |
| Newark | $480K | ▼ 1.0% | $2,111 | ▲ 0.3% | 5.3% |
| Jersey City | $657K | ▲ 0.4% | $3,101 | ▲ 3.1% | 5.7% |
| Yonkers | $702K | ▲ 7.3% | $2,765 | ▲ 7.7% | 4.7% |
| Paterson | $541K | ▲ 5.0% | $1,889 | ▲ 0.6% | 4.2% |
| Elizabeth | $552K | ▲ 2.9% | $2,230 | ▲ 0.9% | 4.8% |
| Toms River | $463K | ▲ 3.8% | $3,026 | ▲ 4.6% | 7.8% |
| Edison | $636K | ▲ 2.2% | $2,787 | ▲ 2.2% | 5.3% |
| Clifton | $609K | ▲ 3.8% | $2,605 | ▲ 5.2% | 5.1% |
| White Plains | $802K | ▲ 6.5% | $3,301 | ▲ 5.6% | 4.9% |
| New Rochelle | $941K | ▲ 7.5% | $2,995 | ▲ 4.9% | 3.8% |
| Mount Vernon | $594K | ▲ 4.7% | $2,639 | ▼ 0.8% | 5.3% |
| Brick | $522K | ▲ 5.5% | $2,718 | ▲ 4.7% | 6.3% |
| Passaic | $555K | ▲ 2.1% | $2,055 | ▼ 1.2% | 4.4% |
| East Orange | $477K | ▲ 0.4% | $1,994 | ▼ 0.8% | 5.0% |
| Union City | $559K | ▲ 5.0% | $2,343 | ▲ 4.8% | 5.0% |
| North Bergen Township | $574K | ▲ 1.7% | $2,869 | ▲ 4.3% | 6.0% |
| Piscataway | $597K | ▲ 2.6% | $2,636 | ▼ 0.6% | 5.3% |
| Irvington | $420K | ▲ 5.3% | $1,939 | ▲ 2.3% | 5.5% |
| Union | $573K | ▲ 3.3% | $2,589 | ▲ 4.9% | 5.4% |
| Hoboken | $894K | ▲ 5.1% | $4,005 | ▲ 3.8% | 5.4% |
| Bayonne | $588K | ▲ 2.4% | $2,342 | ▲ 2.7% | 4.8% |
| Freehold | $649K | ▲ 5.3% | $2,901 | ▲ 2.9% | 5.4% |
| Jackson | $640K | ▲ 2.0% | $3,281 | ▲ 5.7% | 6.2% |
| Somerset | $571K | ▲ 2.6% | $2,648 | ▼ 1.0% | 5.6% |
| New Brunswick | $439K | ▲ 0.2% | $2,820 | ▲ 2.5% | 7.7% |
| Wayne | $747K | ▲ 7.1% | $2,877 | ▲ 2.3% | 4.6% |
| West New York | $448K | ▲ 3.3% | $2,547 | ▲ 2.9% | 6.8% |
| Bloomfield | $606K | ▲ 3.0% | $2,418 | ▲ 2.5% | 4.8% |
| East Brunswick | $626K | ▲ 3.8% | $2,751 | ▲ 1.4% | 5.3% |
| West Orange | $690K | ▲ 9.4% | $2,920 | ▲ 7.0% | 5.1% |
| Morristown | $906K | ▲ 6.5% | $3,119 | ▲ 1.6% | 4.1% |
| Hackensack | $463K | ▲ 3.8% | $2,723 | ▲ 3.5% | 7.1% |
| Bridgewater Township | $736K | ▲ 2.8% | $2,988 | ▲ 3.8% | 4.9% |
| Patchogue | $603K | ▲ 4.8% | $2,746 | ▲ 9.5% | 5.5% |
| Linden | $548K | ▲ 2.0% | $2,468 | ▲ 3.4% | 5.4% |
| North Brunswick | $544K | ▲ 1.8% | $2,527 | ▲ 0.4% | 5.6% |
| Great Neck | $1.48M | ▲ 6.2% | $4,894 | ▲ 4.2% | 4.0% |
| Kearny | $579K | ▲ 1.8% | $2,108 | ▲ 1.7% | 4.4% |
| Hicksville | $787K | ▲ 4.9% | $4,058 | ▲ 1.9% | 6.2% |
| Montclair | $1.15M | ▲ 8.8% | $3,114 | ▲ 2.4% | 3.2% |
| Manalapan Township | $805K | ▲ 5.1% | $2,604 | ▲ 4.8% | 3.9% |
| Fort Lee | $593K | ▲ 7.9% | $3,792 | ▲ 2.7% | 7.7% |
| Ronkonkoma | $651K | ▲ 6.0% | $3,005 | ▲ 8.2% | 5.5% |
| Belleville | $515K | ▲ 3.7% | $2,317 | ▲ 1.5% | 5.4% |
| Huntington | $912K | ▲ 3.3% | $3,724 | ▲ 1.1% | 4.9% |
| Neptune Township | $626K | ▲ 7.1% | $2,461 | ▲ 6.0% | 4.7% |
| Orange | $462K | ▼ 0.7% | $1,968 | ▼ 1.5% | 5.1% |
| Matawan | $659K | ▲ 5.1% | $2,711 | ▼ 1.1% | 4.9% |
| Garfield | $589K | ▲ 2.7% | $2,433 | ▲ 7.8% | 5.0% |
| Livingston | $1.09M | ▲ 5.7% | $4,260 | ▲ 2.3% | 4.7% |
| Coram | $574K | ▲ 6.7% | $3,107 | ▲ 7.0% | 6.5% |
| Long Branch | $825K | ▲ 8.7% | $2,678 | ▲ 4.1% | 3.9% |
| Port Washington | $1.29M | ▲ 8.3% | $4,354 | ▲ 14.3% | 4.0% |
| Rahway | $538K | ▲ 1.5% | $2,472 | ▲ 4.0% | 5.5% |
| Englewood | $629K | ▲ 2.7% | $2,999 | ▲ 4.2% | 5.7% |
| Long Beach | $807K | ▲ 4.9% | $3,563 | ▲ 6.1% | 5.3% |
| Glen Cove | $827K | ▲ 7.3% | $3,702 | ▲ 8.1% | 5.4% |
| Lodi | $626K | ▲ 5.8% | $2,408 | ▲ 2.3% | 4.6% |
| Cliffside Park | $625K | ▲ 1.1% | $3,041 | ▲ 1.1% | 5.8% |
Run the numbers
Rental property calculator
Cash flow on a typical New York rental ($731K, $3,546/mo), pre-filled.
Mortgage calculator
Monthly payment on a typical New York home.
Rent vs buy
Is it cheaper to rent or buy in New York?
Renting out a property in New York? See deposit limits, late fee rules and notice periods.
Other New York metros
Buffalo, NY
$287K home$1,451 rent6.1% yield
▲ 3.6% 1 yr
Rochester, NY
$281K home$1,532 rent6.5% yield
▲ 4.9% 1 yr
Albany, NY
$373K home$1,693 rent5.4% yield
▲ 5.0% 1 yr
Syracuse, NY
$269K home$1,627 rent7.3% yield
▲ 6.6% 1 yr
Utica, NY
$231K home$1,424 rent7.4% yield
▲ 5.8% 1 yr
Binghamton, NY
$203K home$1,610 rent9.5% yield
▲ 6.9% 1 yr
Kingston, NY
$452K home$2,015 rent5.4% yield
▲ 3.6% 1 yr
Jamestown, NY
$181K home$1,078 rent7.2% yield
▲ 4.8% 1 yr
Gross yield = 12 × typical rent ÷ typical home value, before expenses. Mortgage estimate: 20% down, 30-year fixed at the current Freddie Mac average, principal and interest only. Forecast: Zillow Home Value Forecast. Data refreshed Oct 26, 2026.