New York City home prices set new records in 2026, but "the average home price" hides enormous differences: a one-bedroom co-op in the Bronx and a three-bedroom condo in Tribeca are both "NYC homes." Below are the latest medians by borough and property type, the month-by-month trend, and what it really costs to buy: closing costs and monthly payments included. Use the calculator to price a specific home.
NYC median home prices by borough (2026)
| Borough | Median sale price | Year over year | What it buys |
|---|---|---|---|
| Manhattan | $1,275,000 | +5% | 1BR condo or 2BR co-op |
| Brooklyn | $899,000 | +3–7% | 2BR condo in brownstone Brooklyn; townhouse further out |
| Staten Island | $715,000 | +3% | Single-family house with yard |
| Queens | $595,000 | ≈ flat | 2BR co-op or small attached house |
| The Bronx | $455,000 | +2% | 2BR co-op or condo |
| New York City overall | $825,000 | +3% | Record high (Q2 2026) |
Monthly trend: NYC median listing price
This table tracks the citywide median listing price, which moves more smoothly than closed sales. Spring is consistently the most expensive season; prices soften from late summer through winter.
| Month | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| January | $750,000 | $819,000 | $799,000 | $825,000 |
| February | $759,000 | $825,000 | $799,000 | $829,000 |
| March | $779,000 | $820,000 | $849,900 | $859,000 |
| April | $799,000 | $800,000 | $854,612 | $875,000 |
| May | $829,000 | $838,000 | $868,000 | $879,000 |
| June | $818,750 | $825,000 | $850,000 | $869,000 |
| July | $799,000 | $799,000 | $829,000 | $849,000 |
| August | $795,000 | $799,000 | $818,000 | $839,000 |
| September | $799,000 | $829,000 | $818,000 | $835,000 |
| October | $799,000 | $850,000 | $825,000 | n/a |
| November | $839,000 | $839,000 | $819,000 | n/a |
| December | $799,000 | $799,000 | $810,000 | n/a |
Manhattan home prices
Manhattan's median sale price reached a record of about $1.275 million in Q2 2026. The average is far higher (typically $1.9–$2.1 million) because of luxury closings. Average price per square foot sits around $1,500–$1,600.
| Size | Co-op (median) | Condo (median) |
|---|---|---|
| Studio | $420,000–$500,000 | $700,000–$850,000 |
| 1 bedroom | $650,000–$800,000 | $1.1M–$1.3M |
| 2 bedrooms | $1.2M–$1.5M | $2.0M–$2.6M |
| 3+ bedrooms | $2.3M–$3.2M | $4.0M–$6.0M |
Most affordable Manhattan neighborhoods for buyers: Inwood, Washington Heights, East Harlem and parts of the Upper East Side east of Second Avenue. Most expensive: Tribeca, SoHo, the West Village and Hudson Yards.
Brooklyn home prices
Brooklyn's median of roughly $899,000 hides a split market. Condos in Williamsburg, DUMBO, Park Slope and Brooklyn Heights regularly exceed $1.1 million, while co-ops in Bay Ridge, Kensington and Flatbush often trade at $350,000–$550,000. Brownstones and townhouses in prime neighborhoods start around $2.5 million.
Queens, the Bronx and Staten Island
Queens is the most varied borough: Long Island City condos compete with Brooklyn pricing ($1,200+/sq ft), while co-ops in Jackson Heights, Forest Hills and Rego Park offer some of the best value in the city at $300,000–$600,000. The Bronx remains the most affordable borough, with a median around $455,000 and plenty of co-ops under $300,000 in Riverdale and Pelham Parkway. Staten Island is mainly single-family houses, where $650,000–$800,000 buys a detached home with parking.
The real cost to buy: closing costs
NYC buyers pay more to close than almost anywhere in the U.S. On a $1 million condo with a $800,000 mortgage, expect roughly $40,000–$50,000 in buyer closing costs.
| Cost | Who / when | Typical amount |
|---|---|---|
| Mansion tax | Buyer, homes ≥ $1M | 1%–3.9% of price |
| Mortgage recording tax | Buyer, condos & houses (not co-ops) | 1.8% (loans < $500K) / 1.925% |
| Title insurance | Buyer, condos & houses | ≈0.4–0.5% of price |
| Buyer's attorney | All purchases | $2,500–$4,500 |
| Bank / lender fees | With a mortgage | $1,500–$3,500 |
| Co-op fees (lien search, move-in, application) | Co-ops | $1,000–$3,000 |
| Condo: working capital contribution | Condos | 1–2 months of common charges |
Monthly cost of owning a home in NYC
Your monthly payment has three parts: the mortgage, the building's charges (condo common charges and property taxes, or co-op maintenance, which already includes taxes) and insurance. Rough guides:
- Co-op maintenance: about 2–3% of the purchase price per year ($1,400–$2,000/month on a $750,000 apartment).
- Condo common charges + taxes: about 1.8–2.4% per year.
- Houses: property taxes are relatively low (Class 1 effective rates around 0.6–0.9%), but you pay for all maintenance and higher insurance.
Adjust the down payment, rate and term in the calculator to see the full picture, including the income co-op boards and lenders usually want to see.
Buying vs. renting in NYC
With median asking rents around $4,500 in Manhattan and $3,800 in Brooklyn, owning the same apartment usually costs more per month in the first years once interest, taxes and fees are included. Buying tends to win if you stay at least 7–10 years, put a large amount down, or buy a co-op with low maintenance.
Frequently asked questions
What is the average home price in New York City in 2026?
The median sale price across all five boroughs was about $825,000 in Q2 2026, a record high. The average (mean) is much higher (over $1.3 million) because a small number of luxury Manhattan sales pull it up, which is why the median is the better guide.
What is the median home price in Manhattan?
Manhattan's median sale price hit a record of about $1.275 million in Q2 2026. Co-ops are far cheaper than condos: the median co-op sells for roughly $800,000–$900,000, while the median condo is well above $1.5 million.
How much do you need to earn to buy a home in NYC?
For a median-priced $825,000 home with 20% down at a 6.25% mortgage rate, the monthly cost including taxes, fees and insurance is roughly $5,500–$6,000, which requires household income of about $220,000–$240,000 to keep housing at 30% of gross income.
What are closing costs for buyers in NYC?
Buyers typically pay 2–5% of the price: the mansion tax (1% and up on homes over $1 million), mortgage recording tax of 1.8–1.925% of the loan (condos and houses, not co-ops), title insurance, attorney fees and bank fees.
Are NYC home prices going down in 2026?
No. Citywide medians set records in 2026. Inventory remains tight and prices in Brooklyn and Manhattan rose 3–7% year over year, although some Queens and Bronx submarkets were flat.
Is it cheaper to buy a co-op or a condo in NYC?
Co-ops are typically 25–40% cheaper to buy than comparable condos, but they have stricter board approval, higher down payments (often 20–25% or more) and monthly maintenance that includes property taxes.
Sources & methodology
Prices are compiled from published provider price lists, government fee schedules and quotes, then adjusted for 2026. See how we price.