Love it or List it? StatisNostics analyzes how New York City has the most expensive housing market in the country.

New York City, aka “The Big Apple”, is known for its booming arts scene, vast cultural landscape, and its great economic influence. Part of that economic influence is New York’s real estate industry. It’s no secret that it costs a pretty penny to live in NYC. In fact, New York City (specifically Manhattan) has the most expensive housing market in America. How expensive? Let’s examine the real estate prices in the city so nice they named it twice.

New York City was put through StatisNostics’s database, which utilizes U.S. government census data, in order to get an idea of how expensive it really is to live in the big city. The median home value is $1,603,478, and that value has had a 30% increase over the past five years. The median listing price for a property in NYC is an astounding $2,950,000. To compare these prices to those of Los Angeles, the median home value in LA is only $564,069 and the median listing price sits at $568,675. According to StatisNostics, the median monthly rent in NYC is $1,579. Keep in mind, however, the median is not the average. Some properties in New York City will cost less per month while other properties will cost much, much more.

Some alternative places to settle if you want to live in New York without paying NYC prices are Syracuse, NY with a median listing price of $198,475 or Utica, NY whose median listing price rests at $177,250. However, these two cities are about 4 hours out from NYC. If you’re looking for areas closer to The Concrete Jungle, New Rochelle, NY is only a 40-minute train ride away and has a median listing price of $399,000. A bit steeper than the farther cities but, if you don’t mind paying for proximity, New Rochelle is a fine contender.

Want to know the listing prices in your city? Visiting www.statisnostics.com will help you research the real estate data for your own city as well as compare it to another city/town. By entering your address in the search bar, you will find information about your city’s real estate market, economics, government, demographics, health, public safety, schools, and climate.

1. “10 Most Expensive Cities in the US.” Rocket Mortgage, www.rocketmortgage.com/learn/most-expensive-cities-in-the-us. Accessed 15 Jan. 2024. 

2. “Real Estate.” StatisNostics, statisnostics.com/realestate?address1=9302+S+BROADWAY%2C+LOS+ANGELES%2C+CA+90003. Accessed 15 Jan. 2024. 

3. “Real Estate.” StatisNostics, statisnostics.com/realestate?address1=100%2BW%2B31st%2BSt%2C%2BNew%2BYork%2C%2BNY%2B10001. Accessed 15 Jan. 2024.