Market Overview
Home Prices in New York, NY
The median home value in New York, NY is $823,251 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.8% compared to a year ago and up 3.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in New York are priced101% above average. New York is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Over the past five years, New York home values have risen by approximately9.4%, reflecting steady appreciation in this market.
Price History
New York Home Price Trend
City Comparison
New York vs. National Median
At $823,251, homes in New York cost 101% above the national median of $410,000. Buyers in New York should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in New York?
20% Down Payment
$164,650
on $823,251
Monthly P&I
$4,294/mo
30-yr @ 6.8%
Total Monthly Est.
~$5,453/mo
incl. taxes & insurance
Income Needed
$218,120
gross annual (30% rule)
10% Down Option
$82,325
+ PMI applies
Loan Amount (20% dn)
$658,601
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in New York, NY?
The median home value in New York is $823,251 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.8% year-over-year.
How much have home prices changed in New York?
Over the past year, home values in New York have increased by 3.8%. Over five years, prices have risen approximately 9.4%.
How much do I need to earn to buy a home in New York?
To comfortably afford the median home price of $823,251 with a 20% down payment ($164,650) at today's rates (6.8%), you'd need a gross annual income of approximately $218,120. This assumes keeping total housing costs at or below 30% of gross income.
How does New York compare to the national average home price?
The national median home value is approximately $410,000. At $823,251, homes in New York are 101% above the national average.
What metro area is New York part of?
New York is part of the New York-Newark-Jersey City, NY-NJ-PA metropolitan area. Home prices and market conditions can vary across the broader metro region.