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

$378,800

  • -0.1% 1-year change
  • -1.2% 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

Cool

Buyers' Market
Sellers' Market

The median home value in New York Metro is $378,800. New York Metro home values have declined -0.1% over the past year and Zillow predicts they will fall -1.2% within the next year. The median list price per square foot in New York Metro is None. The median rent price in New York Metro is $2,515, which is lower than the New York median of $2,575.

Foreclosures will be a factor impacting home values in the next several years. In New York Metro 2.0 homes are foreclosed (per 10,000). This is the same as the New York value of 2.0 and also lower than the national value of 3.5

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 17.8%, which is higher than the national value of 6.0%. 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 12.4%, which is higher than New York at 11.5%.

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Relative ZHVI
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New York Metro Market Overview

Data through May 31, 2015
  • $378,800 ZHVI
  • -1.2% 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
    (May 31, 2016)
  • No data Median listing price
  • $375,300 Median sale price
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New York Metro Market Health

Data through May 31, 2015
  • No recent data Very healthy
  • 176 Average days on Zillow (Apr 30, 2015)
  • 12.4% Homes with negative equity (15.4% US Avg) (Mar 31, 2015)
  • 17.8% Delinquent on mortgage (6.0% US Avg) (Mar 31, 2015)

Homes foreclosed (per 10,000)

2 homes New York Metro
2 homes New York
3.5 homes United States
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Nearby Metro Areas

Name Median ZHVI
Stamford Metro $371,900
Torrington Metro $221,200
Poughkeepsie Metro $213,700
Name Median ZHVI
Trenton Metro $208,900
New Haven Metro $208,800
Atlantic City Metro $186,100
Name Median ZHVI
Kingston Metro $184,100
Allentown Metro $169,100
East Stroudsburg Metro $122,500

Listings & Sales

Data through May 31, 2015
  • No recent data Median list price / sq ft
  • $241 Median sale price / sq ft
  • No data Listings with price cut
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New York Metro Rentals

Data through May 31, 2015
  • Zillow Rent Index

  • $2,357 New York Metro
    $1,965 New York
    $1,367 United States

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

  • 3.4 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • $2,515 Rent list price
  • $2.75 Rent list price / sq ft
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