New York, NY home prices
Typical home $730,949 · +4.9% in a year · income needed $202,700
The New York, NY metro area ranks 26 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +4.9% in a year and +27.7% over five years. With 20% down at 7.11%, the typical home costs about $4,729 a month including 0.71% property tax (Kings County rate).
Mortgage on the typical New York home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $146,190 | $584,759 | $3,934 | $0 | $795 | $4,729 | $202,700 |
| 10% down | $73,095 | $657,854 | $4,425 | $274 | $795 | $5,495 | $235,500 |
| 5% down | $36,547 | $694,402 | $4,671 | $289 | $795 | $5,756 | $246,700 |
| 3.5% down (FHA) | $25,583 | $717,710 | $4,828 | $323 | $795 | $5,946 | $254,800 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.71% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the New York area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Kings County, NY | $962,988 | +5.3% | 0.71% |
| Queens County, NY | $745,223 | +4.8% | 0.87% |
| New York County, NY | $1,247,381 | +3.2% | 0.92% |
| Suffolk County, NY | $729,701 | +4.0% | 1.73% |
| Bronx County, NY | $503,721 | +5.8% | 1.03% |
| Nassau County, NY | $851,504 | +5.8% | 1.46% |
| Westchester County, NY | $877,732 | +7.8% | 1.51% |
| Bergen County, NJ | $780,357 | +7.1% | 1.61% |
| Middlesex County, NJ | $579,852 | +3.1% | 2.1% |
| Essex County, NJ | $658,593 | +3.8% | 1.91% |
| Hudson County, NJ | $636,059 | +1.5% | 1.77% |
| Monmouth County, NJ | $786,951 | +7.2% | 1.65% |
| Ocean County, NJ | $551,299 | +4.8% | 1.65% |
| Union County, NJ | $627,890 | +2.3% | 1.89% |
| Passaic County, NJ | $597,668 | +4.5% | 2.18% |
| Morris County, NJ | $701,797 | +3.9% | 1.72% |
| Richmond County, NY | $724,119 | +5.2% | 0.92% |
| Somerset County, NJ | $656,346 | +2.7% | 1.81% |
| Rockland County, NY | $758,178 | +5.2% | 1.68% |
| Sussex County, NJ | $445,283 | +2.7% | 2.32% |
| Hunterdon County, NJ | $627,345 | +3.0% | 1.93% |
| Putnam County, NY | $575,184 | +5.5% | 2.12% |
| Pike County, PA | $305,224 | +3.5% | 1.3% |
What can you afford in New York on your salary? · New York home prices · Salaries in New York
Frequently asked questions
How much is a house in New York?
The typical home in the New York, NY metro area is worth $730,949 (Zillow, September 2026).
What salary do you need to buy a house in New York?
About $202,700 a year for the typical home with 20% down at 7.11%.