HomeRule

Cost of homeownership in New York

State averages from Census ACS, energy costs from DOE EIA, and appreciation from FHFA. County-level detail is below.

Avg home value
$253,185
Avg property tax
$4,612
Homeownership rate
69.1%
1yr appreciation
5.3%

Home price trend

FHFA House Price Index, quarterly.

Most expensive counties

  1. 1.New York County$1,104,000
  2. 2.Kings County$865,300
  3. 3.Queens County$677,700
  4. 4.Richmond County$637,100
  5. 5.Nassau County$633,800
  6. 6.Westchester County$619,000
  7. 7.Rockland County$528,900
  8. 8.Bronx County$501,400
  9. 9.Suffolk County$490,800
  10. 10.Putnam County$421,800

Most affordable counties

  1. 1.Allegany County14.4%
  2. 2.Herkimer County14.6%
  3. 3.New York County14.8%
  4. 4.Franklin County14.8%
  5. 5.Chautauqua County14.9%
  6. 6.St. Lawrence County14.9%
  7. 7.Clinton County15.2%
  8. 8.Cattaraugus County15.2%
  9. 9.Oneida County15.3%
  10. 10.Steuben County15.3%
Avg electricity
26.4¢/kWh

DOE EIA residential average.

Avg annual energy cost
$2,850

Residential baseline.

Avg mortgage interest deduction
Pending

IRS SOI, state-level avg.

All counties in New York

Frequently asked questions

How much does it cost to own a home in New York?

Based on Census ACS, the state average home value in New York is $253,185, with median annual property tax around $4,612. Your actual cost depends on county and property.

What is the property tax in New York?

Property tax rates vary by county. New York's state average sits at roughly $4,612 per year on a median home. See county-level pages for local rates.

How fast are home prices appreciating in New York?

FHFA House Price Index data shows New York appreciating 5.3% over the last year and 50.9% over the last five years.

Is homeownership high in New York?

New York's homeownership rate is 69.1% (Census ACS). The share of owner-occupied units varies widely across counties.

Data sources

Disclaimer. HomeRule is not a real estate agent, lender, appraiser, or financial advisor. This content is for educational and informational purposes only. Actual costs vary significantly by property, location, and individual circumstances. Consult qualified professionals for personalized advice.