New York home prices and mortgage costs
Typical home value $524,942 · +5.6% in a year · property tax 1.42%
New York ranks 9th most expensive of 51 states and D.C. Home values changed +5.6% over the past year and +29.7% over five years. Buying the typical home with 20% down costs about $3,710 a month at 7.11%, which needs a household income of about $159,000.
Cost of the typical New York home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $104,988 | $419,954 | $2,825 | $0 | $885 | $3,710 | $159,000 |
| 10% down | $52,494 | $472,448 | $3,178 | $197 | $885 | $4,260 | $182,600 |
| 5% down | $26,247 | $498,695 | $3,355 | $208 | $885 | $4,448 | $190,600 |
| 3.5% down (FHA) | $18,373 | $515,434 | $3,467 | $232 | $885 | $4,585 | $196,500 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.42% 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.
Check a specific budget: how much house you can afford in New York by salary · payment on a $500K home in New York
Home prices by county in New York
| County | Typical home | 1-yr change | Tax rate | Payment / month | Income needed |
|---|---|---|---|---|---|
| New York County | $1,247,381 | +3.2% | 0.92% | $8,290 | $355,300 |
| Kings County | $962,988 | +5.3% | 0.71% | $6,230 | $267,000 |
| Westchester County | $877,732 | +7.8% | 1.51% | $6,266 | $268,500 |
| Nassau County | $851,504 | +5.8% | 1.46% | $6,045 | $259,100 |
| Rockland County | $758,178 | +5.2% | 1.68% | $5,518 | $236,500 |
| Queens County | $745,223 | +4.8% | 0.87% | $4,923 | $211,000 |
| Suffolk County | $729,701 | +4.0% | 1.73% | $5,343 | $229,000 |
| Richmond County | $724,119 | +5.2% | 0.92% | $4,817 | $206,400 |
| Putnam County | $575,184 | +5.5% | 2.12% | $4,400 | $188,600 |
| Dutchess County | $504,887 | +5.7% | 1.89% | $3,764 | $161,300 |
| Bronx County | $503,721 | +5.8% | 1.03% | $3,395 | $145,500 |
| Columbia County | $489,917 | +5.6% | 1.4% | $3,452 | $148,000 |
| Saratoga County | $468,194 | +5.5% | 1.4% | $3,299 | $141,400 |
| Orange County | $467,501 | +3.5% | 2.19% | $3,603 | $154,400 |
| Ulster County | $451,636 | +3.6% | 1.77% | $3,322 | $142,400 |
| Warren County | $380,651 | +5.7% | 1.47% | $2,706 | $116,000 |
| Albany County | $372,401 | +4.1% | 1.77% | $2,738 | $117,300 |
| Greene County | $368,122 | +3.7% | 1.49% | $2,623 | $112,400 |
| Tompkins County | $350,432 | +3.5% | 2.24% | $2,715 | $116,400 |
| Rensselaer County | $327,950 | +5.8% | 2.05% | $2,490 | $106,700 |
| Yates County | $325,604 | +5.1% | 1.88% | $2,426 | $104,000 |
| Sullivan County | $323,717 | +4.8% | 2% | $2,442 | $104,700 |
| Ontario County | $323,653 | +5.8% | 2.05% | $2,456 | $105,300 |
| Schenectady County | $312,933 | +5.2% | 2.36% | $2,457 | $105,300 |
| Erie County | $295,625 | +3.4% | 1.98% | $2,226 | $95,400 |
| Essex County | $292,915 | +6.8% | 1.47% | $2,082 | $89,200 |
| Onondaga County | $285,908 | +6.5% | 2.44% | $2,262 | $97,000 |
| Monroe County | $285,680 | +4.7% | 2.63% | $2,306 | $98,800 |
| Hamilton County | $274,369 | +2.0% | 1% | $1,842 | $78,900 |
| Madison County | $265,243 | +6.4% | 2.26% | $2,061 | $88,300 |
| Niagara County | $254,624 | +4.8% | 2.19% | $1,962 | $84,100 |
| Wayne County | $253,487 | +6.1% | 2.5% | $2,019 | $86,500 |
| Washington County | $252,226 | +3.7% | 2.01% | $1,906 | $81,700 |
| Schoharie County | $252,001 | +6.2% | 2.03% | $1,909 | $81,800 |
| Delaware County | $250,587 | +5.2% | 1.72% | $1,833 | $78,500 |
| Livingston County | $247,627 | +4.0% | 2.45% | $1,963 | $84,100 |
| Schuyler County | $246,028 | +4.8% | 1.97% | $1,852 | $79,400 |
| Oneida County | $237,718 | +5.6% | 2.02% | $1,798 | $77,100 |
| Cayuga County | $235,019 | +5.7% | 2.19% | $1,811 | $77,600 |
| Jefferson County | $234,099 | +6.0% | 1.54% | $1,677 | $71,900 |
| Clinton County | $230,451 | +6.0% | 2% | $1,739 | $74,500 |
| Fulton County | $228,431 | +7.4% | 2.06% | $1,736 | $74,400 |
| Genesee County | $227,342 | +5.7% | 2.41% | $1,794 | $76,900 |
| Seneca County | $225,973 | +5.9% | 2.19% | $1,741 | $74,600 |
| Otsego County | $220,102 | +5.5% | 1.7% | $1,606 | $68,800 |
| Wyoming County | $214,905 | +5.6% | 2.25% | $1,667 | $71,400 |
| Montgomery County | $213,640 | +3.3% | 2.46% | $1,694 | $72,600 |
| Cortland County | $209,513 | +6.3% | 2.56% | $1,679 | $72,000 |
| Tioga County | $209,229 | +7.8% | 2.33% | $1,637 | $70,200 |
| Oswego County | $208,964 | +7.3% | 2.4% | $1,648 | $70,600 |
| Orleans County | $207,563 | +8.1% | 2.72% | $1,690 | $72,400 |
| Herkimer County | $204,078 | +6.2% | 2.1% | $1,558 | $66,800 |
| Broome County | $201,781 | +6.7% | 2.52% | $1,610 | $69,000 |
| Lewis County | $198,555 | +4.7% | 1.62% | $1,436 | $61,500 |
| Chautauqua County | $180,657 | +4.8% | 2.27% | $1,404 | $60,200 |
| Franklin County | $178,454 | +7.6% | 1.68% | $1,299 | $55,700 |
| Steuben County | $172,442 | +4.1% | 2.46% | $1,367 | $58,600 |
| Cattaraugus County | $168,287 | +4.6% | 2.64% | $1,361 | $58,300 |
| Chenango County | $166,867 | +8.2% | 2.26% | $1,296 | $55,500 |
| Chemung County | $166,618 | +6.6% | 2.45% | $1,320 | $56,600 |
| Saint Lawrence County | $149,753 | +6.4% | 2.33% | $1,172 | $50,200 |
| Allegany County | $141,748 | +6.7% | 2.92% | $1,178 | $50,500 |
Metro areas in New York
Frequently asked questions
What is the average home price in New York?
The typical home in New York is worth $524,942 according to the Zillow Home Value Index for September 2026.
How much income do you need to buy a house in New York?
About $159,000 a year to buy the typical $524,942 home with 20% down at 7.11%, keeping housing under 28% of income.
What is the property tax rate in New York?
The typical effective rate is 1.42% of the home's value a year (median taxes paid divided by median home value, Census ACS 2025).