Special Report

The Most Expensive Housing Markets in New York

New York State and California have at least one thing in common: sky-high housing prices. Like its West Coast counterpart, the East Coast’s largest metropolis has some of the most expensive single-family home costs in the nation. The real estate firm Zillow pegs the value of a typical middle-tier home in the Empire State at $379,457, seasonally adjusted as of July. That soars over the national rate of $298,933.

Similarly, the New York State Association of Realtors reported the median price for a home in the state hit $385,000 in June, a 28.3% rise from $300,000 in June of last year. Despite that steep rise, New York (like California) is not among the 10 states where home prices went up the most in the last 12 months.)

To identify the most expensive housing markets in New York State, 24/7 Wall St. reviewed data from the U.S. Census Bureau’s 2019 American Community Survey five-year estimates, ranking only the 346 census-designated places, cities, and towns with at least 5,000 residents in New York. (All data came from the ACS except percent of population change, which we calculated using ACS data.)

If you think the priciest dwellings are found only in New York City, think again. Zillow estimates a typical mid-level home across the city’s five boroughs currently has a price tag of $660,230. That’s a hefty number, to be sure, but nowhere near the median value of $1.1 million for the most “reasonable” town on this list, Manhasset on Long Island. Talk about cities where the middle class can no longer afford housing

Click here to see the most expensive housing markets in New York

Long Island communities form the overwhelming majority of locations on this list, and bookend it. While Manhasset may register at the bottom of this list, Kings Point, another town on Long Island’s ritzy North Shore — the so-called Gold Coast — outranks every other housing market in the state. There, homebuyers can expect to find a median home value of $2 million-plus.