Market Overview
Home Prices in Penn Yan, NY
The median home value in Penn Yan, NY is $342,564 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3% compared to a year ago and up 5.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Penn Yan are priced16% below average. Penn Yan is part of the Rochester, NY metro area.
Over the past five years, Penn Yan home values have risen by approximately32.4%, reflecting strong long-term appreciation in this market.
Price History
Penn Yan Home Price Trend
City Comparison
Penn Yan vs. National Median
At $342,564, homes in Penn Yan cost 16% below the national median of $410,000. This makes Penn Yan a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Penn Yan?
20% Down Payment
$68,513
on $342,564
Monthly P&I
$1,787/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,269/mo
incl. taxes & insurance
Income Needed
$90,760
gross annual (30% rule)
10% Down Option
$34,256
+ PMI applies
Loan Amount (20% dn)
$274,051
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 Penn Yan, NY?
The median home value in Penn Yan is $342,564 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3% year-over-year.
How much have home prices changed in Penn Yan?
Over the past year, home values in Penn Yan have increased by 3%. Over five years, prices have risen approximately 32.4%.
How much do I need to earn to buy a home in Penn Yan?
To comfortably afford the median home price of $342,564 with a 20% down payment ($68,513) at today's rates (6.8%), you'd need a gross annual income of approximately $90,760. This assumes keeping total housing costs at or below 30% of gross income.
How does Penn Yan compare to the national average home price?
The national median home value is approximately $410,000. At $342,564, homes in Penn Yan are 16% below the national average.
What metro area is Penn Yan part of?
Penn Yan is part of the Rochester, NY metropolitan area. Home prices and market conditions can vary across the broader metro region.