New York Housing market
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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.

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New York  Real Estate Investment Performance
Facts and Market Trends in New York
Homes For Sale
6,108
Airbnb Properties
2,889
Rental Properties
63,764
Traditional Vacancy rate
5.20%
Airbnb Occupancy Rate
71.09%
Mashmeter
70.07%
Median Price
$1,101,706
Median Rent Price
$3,507
Price/sqft
$985
Median Days on Market
142
Price to Rent Ratio
33.0
Average Cap Rate
Airbnb
1.32%
Traditional
0.76%
Average Rental Income
Airbnb
$3,798
Traditional
$2,783
 
Median Household Income
$50,711
Population
8,622,698
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$2,329$2,392$2,981$4,099$4,897
Traditional$2,409$1,760$2,249$2,876$3,491
New York, NY - Homes for Sale - Newly Listed
Investment Properties for Sale
$717,000
MLS 3163381
130-17 120th St
New York, NY 11420
South Ozone Park
Single Family Residential
3 beds3 baths0 sq.ft.
CAP RATE
Trad. 0.85%Airbnb 1.46%
Investment Properties for Sale
$335,000
MLS 1132138
114 Baden Place
New York, NY 10306
Midland Beach
Single Family Residential
2 beds1 baths784 sq.ft.
CAP RATE
Trad. 2.16%Airbnb 0.34%
Investment Properties for Sale
$1,100,000
MLS 3163169
5059 67th St
New York, NY 11377
Maspeth
Single Family Residential
2 beds2 baths0 sq.ft.
CAP RATE
Trad. -0.52%Airbnb -0.03%
Investment Properties for Sale
$639,888
MLS 3163219
203-11 33rd Ave
New York, NY 11361
Bayside
Single Family Residential
3 beds2 baths1,065 sq.ft.
CAP RATE
Trad. 1.13%Airbnb 1.53%
Top Performing New York Properties
Investment Properties for Sale
$95,000
MLS 3132585
1322 Commerce Ave
New York, NY 10461
Pelham Bay
Other
2 beds1 baths0 sq.ft.
CAP RATE
Trad. 3.94%Airbnb 7.99%
Investment Properties for Sale
$400,000
MLS 3077687
112-06 178 Pl
New York, NY 11412
Hollis
Single Family Residential
4 beds2 baths4,100 sq.ft.
CAP RATE
Trad. 2.31%Airbnb 7.99%
Investment Properties for Sale
$150,000
MLS 3163002
1515 W 7th St #4B
New York, NY 11204
Bensonhurst
Condo/Coop
1 beds1 baths0 sq.ft.
CAP RATE
Trad. 4.76%Airbnb 7.88%
Investment Properties for Sale
$319,000
MLS 16636
448 East 84th Street #1B
New York, NY 10028
Upper East Side
Condo/Coop
0 beds1 baths0 sq.ft.
CAP RATE
Trad. 3.05%Airbnb 7.76%
Recently Sold Homes in New York, NY
Investment Properties for Sale
$799,900
MLS 4908719
131-16 Linden Boulevard
New York, NY 11420
South Ozone Park
Multi Family
0 beds0 baths2,112 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$631,100
MLS 5034669
24-16 84th Street
New York, NY 11370
Bay Ridge
Multi Family
0 beds0 baths1,760 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$1,100,000
MLS 3130920
6369 110th St
New York, NY 11375
Flushing Meadows Corona Park
Multi Family
8 beds4 baths0 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$779,000
MLS 3147004
14420 225th St
New York, NY 11413
Brookville
Multi Family
6 beds3 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
$808,000
MLS 3114230
61-19 56th Ave
New York, NY 11378
Maspeth
Multi Family
4 beds2 baths0 sq.ft.
CAP RATE
Trad. 7.79%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. 7.55%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
$95,000
MLS 3132585
1322 Commerce Ave
New York, NY 10461
Pelham Bay
Other
2 beds1 baths0 sq.ft.
CAP RATE
Trad. 3.94%Airbnb 7.99%
Investment Properties for Sale
$400,000
MLS 3077687
112-06 178 Pl
New York, NY 11412
Hollis
Single Family Residential
4 beds2 baths4,100 sq.ft.
CAP RATE
Trad. 2.31%Airbnb 7.99%
Investment Properties for Sale
$150,000
MLS 3163002
1515 W 7th St #4B
New York, NY 11204
Bensonhurst
Condo/Coop
1 beds1 baths0 sq.ft.
CAP RATE
Trad. 4.76%Airbnb 7.88%
Investment Properties for Sale
$319,000
MLS 16636
448 East 84th Street #1B
New York, NY 10028
Upper East Side
Condo/Coop
0 beds1 baths0 sq.ft.
CAP RATE
Trad. 3.05%Airbnb 7.76%
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
$158 per night
Entire home/apt · 1 bed
Private brownstone studio Brooklyn
495
New York Airbnb
$124 per night
Entire home/apt · 1 bed
Park Slope Green Guest House
467
New York Airbnb
$92 per night
New York Airbnb
$50 per night
Entire home/apt · 1 bed
THE PRIVACY DEN ~ 5 MINUTES TO JFK
443
New York, NY Homes for Rent
Investment Properties for Sale
$12,500
MLS OLRS-1341175
Investment Properties for Sale
$2,150
MLS OLRS-1847371
Investment Properties for Sale
$2,900
MLS RPLU-63219851238
Investment Properties for Sale
$3,295
MLS RPLU-63219851226
17 Park Avenue #1502
New York, NY
Murray Hill
Apartment
1 beds1 baths0 sq.ft.
New York, NY Open Houses
Investment Properties for Sale
Open 2 PM to 4 PM
$618,000
MLS 3163139
84-25 Elmhurst Ave #3R
New York, NY 11373
Elmhurst
Condo/Coop
2 beds1 baths0 sq.ft.
CAP RATE
Trad. 1.06%Airbnb 0.77%
Investment Properties for Sale
Open 1 PM to 3 PM
$519,990
MLS 3163089
245-28 147th Dr
New York, NY 11422
Rosedale
Single Family Residential
3 beds2 baths1,500 sq.ft.
CAP RATE
Trad. 1.31%Airbnb 5.11%
Investment Properties for Sale
Open 5:30 PM to 7 PM
$918,000
MLS RPLU-63219858131
252 West 123rd Street #2NDFLOOR
New York, NY 10027
Harlem
Condo/Coop
2 beds2 baths0 sq.ft.
CAP RATE
Trad. -0.76%Airbnb -0.06%
Investment Properties for Sale
Open 2:30 PM to 4 PM
$389,000
MLS RPLU-63219849183
2287 Johnson Avenue #7D
New York, NY 10463
Spuyten Duyvil
Condo/Coop
1 beds1 baths0 sq.ft.
CAP RATE
Trad. 1.38%Airbnb 0.97%
Best New York Neighborhoods for Buying Investment Property
69%
Mashmeter
property price
$977,500
Median
cap rate
5.89%
Traditional
7.85%
Airbnb
rental income
$4,796
Traditional
$6,394
Airbnb
homes for sale
40
occupancy rate
78%
Airbnb
80%
Mashmeter
property price
$822,500
Median
cap rate
6.63%
Traditional
9.64%
Airbnb
rental income
$4,545
Traditional
$6,607
Airbnb
homes for sale
4
occupancy rate
78%
Airbnb
58%
Mashmeter
property price
$1,367,500
Median
cap rate
5.76%
Traditional
5.35%
Airbnb
rental income
$6,561
Traditional
$6,097
Airbnb
homes for sale
47
occupancy rate
77%
Airbnb
78%
Mashmeter
property price
$1,575,000
Median
cap rate
3.77%
Traditional
4.41%
Airbnb
rental income
$4,947
Traditional
$5,788
Airbnb
homes for sale
94
occupancy rate
79%
Airbnb
75%
Mashmeter
property price
$1,497,500
Median
cap rate
4.22%
Traditional
5.07%
Airbnb
rental income
$5,260
Traditional
$6,325
Airbnb
homes for sale
40
occupancy rate
77%
Airbnb
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