In New York, NY the median value of a house is $677,200 which is higher than the US average of $338,100. The appreciation rate for houses in New York, NY has been 5.59% over the past year, which is lower than the US average of 8.27%. This reflects the high cost associated with housing in New York and slower growth rates due to market saturation. Despite this, homes in New York remain desirable and sought after due to their location and amenities.
The median home cost in New York is $677,200. Home appreciation the last 10 years has been 71.8%. Home Appreciation in New York is up 7.6%.
Average Age of Homes
- The median age of New York real estate is 68 years old
The Rental Market in New York
- Renters make up 61.8% of the New York population
- 2.3% of houses and apartments in New York, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.