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New York City is the most populous city in the whole of the United States. Located in the southern region of the State of New York, the city is home to over 8.6 million residents. Even so, New York City saw an increase in its population by 5.5% from 2010 to 2018. According to NeighborhoodScout, 77.7% of this population rents rather than owns a home. So buying a rental property in the New York City housing market can make for a great real estate investment as rentals are in high demand.

The economy in New York City is actually the largest regional urban economy in the nation. The city leads the country’s job market in the fields of banking, finance, and communication. New York City is not only known as “The Big Apple”, but it’s actually been nicknamed “The Finance Capital of the World” because located in the city are NASDAQ and the New York Stock Exchange. Other major industries in New York City include international trade, healthcare, media, journalism and publishing, manufacturing, information technology, and real estate.

The New York City housing market (specifically its borough Brooklyn) came in at #2 in the PWC’s Top Markets to Watch in 2019. In the Northeast region of the US, New York City’s boroughs took 3 out of 5 spots for the top markets for overall real estate prospects in the annual report. Not only is the New York City real estate market a top national market, but it’s a popular market for international real estate investment as well. In fact, according to a survey by the Association of Foreign Investors in Real Estate (AFIRE), New York City came in second in the global ranking of major cities for top real estate prospects. So whether you’re a domestic or foreign real estate investor, New York City is one of the best places to invest in real estate.

New York Realtors and Real Estate Agents

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New York  Real Estate Investment Performance
Facts and Market Trends in New York
Homes For Sale6,936
Airbnb Properties6,440
Rental Properties37,186
Traditional Vacancy rate5.20%
Airbnb Occupancy Rate71.33%
Mashmeter70.70%
Median Price$1,121,304
Median Rent Price$3,149
Price/sqft$887
Median Days on Market138
Price to Rent Ratio34.5
Average Cap Rate
Airbnb1.24%
Traditional0.67%
Average Rental Income
Airbnb$3,829
Traditional$2,712
 
Median Household Income$50,711
Population8,622,698
Transportation in New York
89 / 100
Very Walkable
84 / 100
Excellent Transit
68 / 100
Bikeable
New York  Rent Prices
RENTAL STRATEGY STUDIOS 1 ROOM 2 ROOMS 3 ROOMS 4 ROOMS
Airbnb$2,417$2,410$3,021$3,797$4,841
Traditional$2,275$1,787$2,297$2,897$3,559
New York, NY - Homes for Sale - Newly Listed
Investment Properties for Sale
$373,000
MLS
86 -16 60TH AVE #5D
New York, NY 11373
Elmhurst
Condo/Coop
1 beds1 baths0 sq.ft.
CAP RATE
Trad. 1.65%Airbnb 1.07%
Investment Properties for Sale
$260,000
MLS
145- 08 NEPONSIT AVE
New York, NY 11694
Neponsit
Single Family Residential
beds baths1,400 sq.ft.
CAP RATE
Trad. -1.46%Airbnb -3.80%
Investment Properties for Sale
$1,999,000
MLS OLRS-1859007
460 East 79th Street #17-E
New York, NY 10075
Upper East Side
Condo/Coop
3 beds3 baths772 sq.ft.
CAP RATE
Trad. 0.20%Airbnb 1.76%
Investment Properties for Sale
$585,000
MLS OLRS-1859001
205 East 68th Street #T-2B
New York, NY 10065
Upper East Side
Condo/Coop
0 beds1 baths757 sq.ft.
CAP RATE
Trad. -0.41%Airbnb 1.75%
Top Performing New York Properties
Investment Properties for Sale
$325,000
MLS 15922
342 East 100th Street #6D
New York, NY 10029
Carnegie Hill
Condo/Coop
1 beds1 baths413 sq.ft.
CAP RATE
Trad. 4.88%Airbnb 7.74%
Investment Properties for Sale
$414,000
MLS 10625186
151 Cleveland Street
New York, NY 11208
East New York
Single Family Residential
4 beds2 baths1,622 sq.ft.
CAP RATE
Trad. 2.66%Airbnb 7.53%
Investment Properties for Sale
$599,900
MLS 16643
139 East 30th Street #1B
New York, NY 10016
Gramercy
Condo/Coop
2 beds1 baths0 sq.ft.
CAP RATE
Trad. 3.90%Airbnb 7.37%
Investment Properties for Sale
$250,000
MLS 1132382
164 Grimsby Street #C
New York, NY 10306
Midland Beach
Single Family Residential
3 beds1 baths775 sq.ft.
CAP RATE
Trad. 5.47%Airbnb 7.18%
Recently Sold Homes in New York, NY
Investment Properties for Sale
$0
MLS
1113 E 93RD ST 500
New York, NY 11236
Canarsie
Condo/Coop
1 beds1 baths540 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$849,000
MLS 1132474
184 Quinlan Avenue
New York, NY 10314
Castleton Corners
Multi Family
3 beds5 baths2,288 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$3,750,000
MLS RPLU-63219908375
248 Henry Street
New York, NY 11201
Brooklyn Heights
Multi Family
7 beds5 baths5,085 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$1,200,000
MLS RPLU-63219947159
34 Shepherd Avenue
New York, NY 11208
Glendale
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Property Value Changes and Real Estate Appreciation in the New York Housing Market

New York City is notorious for its high property prices which is why so many residents rent rather than buy. However, if you can afford to invest in New York City real estate, you’ll still enjoy significant property appreciation. In fact, since Q1 of 2000, real estate appreciation of NYC properties has totalled 123% for an annual average growth rate of 4.37%. Zillow forecasts that next year will be no different with an expected appreciation of 3.3%.

The housing inventory is tight as it is in most major US metro areas, and it doesn’t help that land and construction costs are very high. However, local officials are working with the city’s real estate board and construction unions to remedy the issue and increase housing supply. So even though property prices are high, the New York City housing market is actually a buyer’s market right now. This means that there is room to negotiate those home values down. And there are still affordable neighborhoods in New York City where you can find cheaper homes for sale making the city a great place to buy investment property.

New York, NY Top Multi Family Homes
Investment Properties for Sale
$769,000
MLS 3143311
170 Mckinley Ave
New York, NY 11208
Woodhaven
Multi Family
5 beds2 baths0 sq.ft.
CAP RATE
Trad. 7.84%Airbnb N/A
Investment Properties for Sale
$109,900
MLS 20194791
910 MOUNT VERNON ROAD
New York, NY 12483
Navy Yard
Multi Family
0 beds0 baths1,258 sq.ft.
CAP RATE
Trad. 7.80%Airbnb N/A
Investment Properties for Sale
$829,000
MLS 3056401
60-28 54th Pl
New York, NY 11378
Maspeth
Multi Family
5 beds3 baths1,824 sq.ft.
CAP RATE
Trad. 7.51%Airbnb N/A
Investment Properties for Sale
$825,900
MLS 3101763
147-38 253rd St
New York, NY 11422
Rosedale
Multi Family
6 beds4 baths2,218 sq.ft.
CAP RATE
Trad. 7.00%Airbnb N/A
Homes Below Median Price in the New York, NY Real Estate Market
Investment Properties for Sale
$325,000
MLS 15922
342 East 100th Street #6D
New York, NY 10029
Carnegie Hill
Condo/Coop
1 beds1 baths413 sq.ft.
CAP RATE
Trad. 4.88%Airbnb 7.74%
Investment Properties for Sale
$414,000
MLS 10625186
151 Cleveland Street
New York, NY 11208
East New York
Single Family Residential
4 beds2 baths1,622 sq.ft.
CAP RATE
Trad. 2.66%Airbnb 7.53%
Investment Properties for Sale
$599,900
MLS 16643
139 East 30th Street #1B
New York, NY 10016
Gramercy
Condo/Coop
2 beds1 baths0 sq.ft.
CAP RATE
Trad. 3.90%Airbnb 7.37%
Investment Properties for Sale
$250,000
MLS 1132382
164 Grimsby Street #C
New York, NY 10306
Midland Beach
Single Family Residential
3 beds1 baths775 sq.ft.
CAP RATE
Trad. 5.47%Airbnb 7.18%
New York Airbnb Growth and Regulations

Because New York City is a popular domestic and international tourist destination, welcoming over 60 million visitors a year, it’s no surprise that Airbnb growth was massive in the early years of the vacation rental industry, with Airbnb New York City hosts generating millions of dollars in annual revenue. However, as a result of Airbnb’s growth, city officials have cracked down on short-term rentals with strict regulations. When it comes to non-owner occupied properties such as Airbnb investment properties, they are illegal in New York City.

In order to rent out a primary residence on Airbnb legally, the host must be present throughout the guest’s stay. This means you can only rent out a room rather than an entire house in the Airbnb New York City market. Hosts will also be required to obtain a business license and permit as well as pay various taxes such as a hotel occupancy tax.

Besides this, there are also zoning laws that dedicate certain regions in the city where short-term rentals are permitted. If your home is under rent control, you must check with your local rent board to find out if renting out on Airbnb and other vacation rental websites is permitted. Airbnb New York City hosts must also adhere to any HOA restrictions against short-term rental properties.

New York, NY Top Airbnb Homes
New York Airbnb
$52 per night
Entire home/apt · 1 bed
THE PRIVACY DEN ~ 5 MINUTES TO JFK
486
New York Airbnb
$121 per night
Entire home/apt · 1 bed
Park Slope Green Guest House
469
New York Airbnb
$92 per night
New York Airbnb
$303 per night
New York, NY Homes for Rent
Investment Properties for Sale
$2,267
MLS OLRS-1858989
669 Meeker Avenue #PH
New York, NY
Greenpoint
Apartment
0 beds1 baths0 sq.ft.
Investment Properties for Sale
$4,300
MLS NEST-105788
Investment Properties for Sale
$3,300
MLS BOLD-164423
Investment Properties for Sale
$4,490
MLS BOLD-164362
New York, NY Open Houses
Investment Properties for Sale
Open 11 AM to 12:30 PM
$1,999,000
MLS OLRS-1859007
460 East 79th Street #17-E
New York, NY 10075
Upper East Side
Condo/Coop
3 beds3 baths772 sq.ft.
CAP RATE
Trad. 0.20%Airbnb 1.76%
Investment Properties for Sale
Open 12:30 PM to 2:30 PM
$950,000
MLS RLMX-00181002123080
309 E 108TH ST. #2H
New York, NY 10029
East Harlem
Condo/Coop
2 beds2 baths1,257 sq.ft.
CAP RATE
Trad. 0.40%Airbnb 2.49%
Investment Properties for Sale
Open 11 AM to 12:30 PM
$1,749,000
MLS RPLU-63219955201
340 East 64th Street #18S
New York, NY 10065
Sutton Place
Condo/Coop
2 beds2 baths0 sq.ft.
CAP RATE
Trad. -0.34%Airbnb 0.74%
Investment Properties for Sale
Open 12:30 PM to 2 PM
$699,000
MLS RPLU-63219948821
2250 Broadway #5K
New York, NY 10024
Upper West Side
Condo/Coop
0 beds1 baths0 sq.ft.
CAP RATE
Trad. 0.44%Airbnb 1.29%
Best New York Neighborhoods for Buying Investment Property
80%
Mashmeter
property price
$1,497,500
Median
cap rate
3.65%
Traditional
6.50%
Airbnb
rental income
$4,556
Traditional
$8,109
Airbnb
homes for sale
4
occupancy rate
84%
Airbnb
78%
Mashmeter
property price
$2,595,000
Median
cap rate
2.25%
Traditional
2.96%
Airbnb
rental income
$4,857
Traditional
$6,406
Airbnb
homes for sale
19
occupancy rate
81%
Airbnb
87%
Mashmeter
property price
$944,500
Median
cap rate
6.06%
Traditional
9.81%
Airbnb
rental income
$4,772
Traditional
$7,721
Airbnb
homes for sale
40
occupancy rate
80%
Airbnb
80%
Mashmeter
property price
$999,000
Median
cap rate
7.56%
Traditional
8.03%
Airbnb
rental income
$6,291
Traditional
$6,681
Airbnb
homes for sale
49
occupancy rate
77%
Airbnb
69%
Mashmeter
property price
$1,230,006
Median
cap rate
5.36%
Traditional
6.42%
Airbnb
rental income
$5,497
Traditional
$6,586
Airbnb
homes for sale
36
occupancy rate
78%
Airbnb
All New York Neighborhoods