New York

Ranked #49 of 51 for housing affordability

22Crisis

Median Home Price

🏠

$450K

6.1x income

Median Rent

🔑

$2K

39.5% rent-burdened

Median Income

💰

$74K

Population: 19,677,151

Homeownership

🏡

53.5%

103,200 experiencing homelessness

Housing Shortage

📉

600,000

units needed

Building Permits (2024)

🔨

52,000

Price-to-Income

📊

6.1x

Severe Rent Burden

⚠️

22.0%

paying >50% of income

Rent Burden Breakdown

vs. National Average

Metros in New York

MetroScoreHome PriceRentIncomeRent Burden
New York15$680K$2K$76K41.5%
Buffalo70$210K$1K$58K31.0%
Rochester72$195K$1K$59K30.5%
Albany60$280K$1K$67K30.5%
Syracuse72$190K$1K$56K31.5%

Housing Policies

rent stabilization421-a tax abatement replacementHousing Stability and Tenant Protection Actgood cause evictioninclusionary housing program