New York, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating New York Neighborhoods Since 2000




New York, NY Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

New York Housing Market Information

With a population of 1,658,646, 750,419 total housing units (homes and apartments), and a median house value of $963,623, New York house prices are not only among the most expensive in New York, New York real estate also is some of the most expensive in all of America.

Large apartment complexes or high rise apartments are the single most common housing type in New York, accounting for 95.23% of the borough's housing units. Other types of housing that are prevalent in New York include duplexes, homes converted to apartments or other small apartment buildings ( 3.11%). This particular housing mix is relatively uncommon and characteristic of boroughs that are compact and walkable, and which often have a lively downtown.

New York is dominated by renter-occupied one, two, or no bedrooms apartments. 77.91% of New York's dwellings are rentals.

The housing in New York was primarily built before 1939 ( 43.87%), making the housing stock in New York some of the oldest overall in America, although there is a range of ages of homes in New York. The next most important housing age is between 1940-1969 ( 29.64%), followed by between 1970-1999 ( 18.22%). There's also some housing in New York built between 2000 and later ( 8.28%).

Vacant housing appears to be an issue in New York. Fully 12.97% of the housing stock is classified as vacant. Left unchecked, vacant New York homes and apartments can be a drag on the real estate market, holding New York real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

New York Home Appreciation Rates

Real estate appreciation rates in New York's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.01% during the period.

NeighborhoodScout's data show that during the latest twelve months, New York's appreciation rate, at 4.79%, has been at or slightly above the national average. In the latest quarter, New York's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New York, our data show that New York's latest annual appreciation rate is higher than 70% of the other cities and towns in New York.

One very important thing to keep in mind is that these are average appreciation rates for the borough. Individual neighborhoods within New York differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New York - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best New York real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$963,623

New York, NY HOME PRICES

Value Range
> $1,134,000 35.3
$851,001 - $1,134,000 13.2
$567,001 - $851,000 21.8
$454,001 - $567,000 8.9
$340,001 - $454,000 7.6
$227,001 - $340,000 6.0
$113,001 - $227,000 1.7
$57,001 - $113,000 1.5
$0 - $57,000 4.0

Very High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
1.16020157037384 3.47923681257015

Number Of Homes And Apartments:
750,419

New York Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
102.36% 4.17% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,413 / per month

Homeownership Rate

Homeownership
Owners 22.09
Renters 77.91
Vacant 12.97

Housing Market Details

 

Age of Homes

AGE OF New York HOMES
2000 or Newer 8.3
1970 - 1999 18.2
1940 - 1969 29.6
1939 or Older 43.9

Types of Homes

TYPE OF New York HOMES
Single-Family 0.8
Townhomes 0.7
Small Apt. Buildings 3.1
Apt. Complexes 95.2
Mobile Homes 0.1
Other 0.1

Home Size

SIZE OF New York HOMES
No Bedroom 14.74
1 Bedroom 41.33
2 Bedrooms 29.21
3 Bedrooms 11.47
4 Bedrooms 2.36
5 or more bedrooms 0.88