Home Values

New York Metro Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$382,900

  • 3.7% 1-year change
  • 0.6% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this metro relative to other metros across the US. A particular metro may be identified as a good market for buyers in a national market favorable to sellers overall. Learn more

Cold

Buyers' Market
Sellers' Market

The median home value in New York Metro is $382,900. New York Metro home values have gone up 3.7% over the past year and Zillow predicts they will rise 0.6% within the next year. The median list price per square foot in New York Metro is $256, which is higher than the New York average of $183. The median price of homes currently listed in New York Metro is $400,000 while the median price of homes that sold is $376,450. The median rent price in New York Metro is $2,350, which is the same as the New York median of $2,350.

Foreclosures will be a factor impacting home values in the next several years. In New York Metro 1.5 homes are foreclosed (per 10,000). This is the same as the New York value of 1.5 and also lower than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in New York Metro is 18.9%, which is higher than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of New York Metro homeowners underwater on their mortgage is 13.6%, which is higher than New York at 12.4%.

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Relative ZHVI
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New York Metro Market Overview

Data through Jan 31, 2015
  • $382,900 ZHVI
  • 0.6% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Jan 31, 2016)
  • $400,000 Median listing price
  • $376,450 Median sale price
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New York Metro Market Health

Data through Jan 31, 2015
  • 6.2/10 Healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
    (Dec 31, 2014)
  • 159 Average days on Zillow (Dec 31, 2014)
  • 13.6% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 18.9% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

1.5 homes New York Metro
1.5 homes New York
4 homes United States
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Nearby Metro Areas

Name Median ZHVI
Stamford Metro $386,200
Torrington Metro $233,300
Poughkeepsie Metro $225,400
Name Median ZHVI
Trenton Metro $220,500
New Haven Metro $209,700
Kingston Metro $191,600
Name Median ZHVI
Atlantic City Metro $182,800
Allentown Metro $177,000
East Stroudsburg Metro $129,100

Listings & Sales

Data through Jan 31, 2015
  • $256 Median list price / sq ft
  • $237 Median sale price / sq ft
  • No data Listings with price cut
18.3%
Sold below listing
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New York Metro Rentals

Data through Jan 31, 2015
  • Zillow Rent Index

  • $2,331 New York Metro
    $1,918 New York
    $1,350 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.5 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $2,350 Rent list price
  • $2.69 Rent list price / sq ft
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