Top Locations7 Best Places to Invest in the New York Real Estate Market 2019 by Hamza Abdul-Samad January 28, 2019February 4, 2019 by Hamza Abdul-Samad January 28, 2019February 4, 2019Year after year, New York has consistently been one of the best states to invest in real estate. The New York housing market forecast is extremely bright for many of its cities. New York City-Brooklyn, for example, is projected by a PwC report to be among the best cities for investing in New York real estate and US real estate overall.However, there’s more to the New York real estate market than NYC. The Empire State is surprisingly an excellent spot for lucrative and even affordable real estate. Today, we’ll talk to you about the 7 best cities for investing in New York real estate.Related: 10 Best Places to Invest in Real Estate in 2019New York Real Estate Market: State-Level DataBefore we explore the 7 cities, let’s take a look at the data of the New York housing market 2019 as a whole. According to Mashvisor’s investment property calculator, which you can learn more about by clicking here, the New York real estate market data for 2019 is:Median Property Price: $542,219Price Per Square Foot: $403Traditional Rental Income: $2,342Traditional Cap Rate / Cash on Cash Return: 2%Price-to-Rent Ratio: 19As you can see, buying investment properties in the New York housing market 2019 can be a profitable investment. While the state median property price is above the national average of about $230,000, the 7 cities to be mentioned are much more affordable.Other real estate market trends include high profitability, as seen with the rental income and return on investment averages. The state’s price-to-rent ratio indicates that renting is generally more economically favorable compared to buying a rental property in New York. In other words, there is plenty of demand from tenants throughout the New York real estate market. All of these features remain consistent, or even better, in the 7 best cities in New York.Related: The New York City Real Estate Market Forecast for 2019The Best Cities in the New York Real Estate Market1. Redwood Median Property Price: $121,450Price Per Square Foot: $122Traditional Rental Income: $1,590Traditional Cap Rate / Cash on Cash Return: 14%Price-to-Rent Ratio: 6A small rural town, Redwood is one of the best places for buying a rental property in New York. It is also one of the most affordable cities in New York, with a median property price over four times less than the state median. Its cost of living is 21.5% lower than the US average. The town is also very lucrative with high rental income averages. Its return on investment, averaging a whopping 14%, is the highest in the entire New York real estate market.2. High FallsMedian Property Price: $95,000Price Per Square Foot: $72Traditional Rental Income: $2,020Traditional Cap Rate / Cash on Cash Return: 14%Price-to-Rent Ratio: 4With an impressive median price of $95,000, High Falls has the most affordable real estate on this list. Like Redwood, High Falls is another small town with a suburban feel and lucrative investment opportunities. Its return on investment averages alone should incentivize New York real estate investors to invest in the area.3. Niverville Median Property Price: $281,891Price Per Square Foot: $157Traditional Rental Income: $1,500Traditional Cap Rate / Cash on Cash Return: 13%Price-to-Rent Ratio: 16Another top area for buying a house in the New York real estate market is the suburban town of Niverville. Niverville, like the others on this list, is among the most affordable cities in New York. The area’s outstanding ROI and improving economy (with a low unemployment rate of 3.2% and job growth at 1.1%) will definitely motivate New York real estate investors in 2019 to buy rental property here.4. Palatine Bridge Median Property Price: $103,665Price Per Square Foot: $70Traditional Rental Income: $1,500Traditional Cap Rate / Cash on Cash Return: 12%Price-to-Rent Ratio: 6Palatine Bridge is one of the more historic cities in the state, due to its pre-World War II architecture. This town is also a top-tier place for buying investment properties in the New York real estate market. This is due to its low property prices, high rental income, and sky-high ROI. Cost of living also boasts impressive numbers, with it being 19.3% less than the US average.Related: Where Should You Invest in Multi Family Homes in New York State?5. Waddington Median Property Price: $252,760Price Per Square Foot: $130Traditional Rental Income: $1,500Traditional Cap Rate / Cash on Cash Return: 11%Price-to-Rent Ratio: 14Waddington is another town with a great New York housing market forecast for 2019. Like the other entries on the list, the historic town is very affordable and very lucrative. Its cost of living, which is 18.5% lower than the national level, is also very attractive to potential residents. These real estate market trends make Waddington a great location for buying a house in New York to rent out.6. Oswegatchie Median Property Price: $182,250Price Per Square Foot: $65Traditional Rental Income: $1,400Traditional Cap Rate / Cash on Cash Return: 11%Price-to-Rent Ratio: 11A larger town with a rural feel, Oswegatchie is another under-the-radar destination in the New York real estate market. Similar to Waddington, the town has a rich history and inexpensive and fruitful traditional investment opportunities.7. Ulster ParkMedian Property Price: $231,450Price Per Square Foot: $158Traditional Rental Income: $3,654Traditional Cap Rate / Cash on Cash Return: 11%Price-to-Rent Ratio: 5Last, but definitely not least, is Ulster Park. It’s the largest town on this list but it also has the highest rental income average with a stunning $3,654. The residential town is also home to many recreational sites. This gives this unappreciated area in the New York real estate market a nice edge over many other locations.To start looking for and analyzing the best investment properties in your city and neighborhood of choice, click here.All in all, the New York real estate market will remain one of the best in 2019. With the 7 cities mentioned in this blog, New York real estate investors will find excellent real estate opportunities.For more data on where to invest in real estate in New York, click here to start your 14-day free trial with Mashvisor! Start Your Investment Property Search! START FREE TRIAL New YorkTraditional 0FacebookTwitterGoogle +PinterestLinkedin Hamza Abdul-SamadHamza is a long-time writer at Mashvisor. With a focus on real estate investing tips, concepts, and top investing locations, he aims to help all aspiring investors who come across his blogs to hit the bank with their investment property. Previous Post What Is a Good Cap Rate for Rental Property in 2019? Next Post How to Double Your Money by Investing in Real Estate Related Posts Do the Denver Real Estate Market Conditions Make It a Good Choice for Investors? What Cash on Cash Return for a Rental Property Can You Expect in 2018? Best Places to Invest in Real Estate: College Towns Is the Orlando Real Estate Market a Good Investment Option This Year? Portland Housing Market Forecast 2020 Why Nashville Investment Properties Are Hot The Best Cities to Buy Rental Property in 2019? 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