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what is the median house price in new york


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Donald’s Answer

Zillow pegs the "average" price for a home in the City as $671,000.00. That will not buy a large place - I have an apartment in NYC that has 450 square feet that would sell for that price in our building located in midtown Manhattan. There are other apartments in the building that approach $3,000,000. So there are, in addition to mortgage costs, property taxes, which on a property like mine ( a studio) is around $9,000/yr. Condo fees in our building are relatively low at $615.00/month. The highest prices.....tens of millions. I haven't seen anything less than $350,000 recently. That said, NYC is an incredible place to live. Almost anything you want to see or do is a subway ride or walk away. It's a very fast paced city. Not for everyone, but the people who love it are very passionate about it. Hope this helps......The other boroughs, Queens, Staten Island etc vary somewhat, but are also relatively expensive.

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Todd’s Answer

It all depends on where in New York you're thinking about. The NY City metro area is expensive, but the farther away you go from NY City the less expensive it will be. However, you don't mention if you're referring to "New York" as the city or the state, so it's difficult to provide a reasonable estimate. Your profile shows that you're in Arizona City, AZ. I'm sure housing in Phoenix is more expensive than in your area, so NY is similar in that regard. I'm happy to provide further advice if you can be more specific as to which area(s) of New York you're referring to.

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Charles’s Answer

Your question is very specific, but doesn't explain why you want to know.
New York state has 60 counties and the housing prices in Clinton county (way north) are far different than Westchester County.

But the answer, according to Business Insider (https://www.businessinsider.com/cost-to-buy-a-house-in-every-state-ranked-2018-8), is $425K

If you can follow up with more details, we can probably provide a more useful number.

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Rishi’s Answer

As mentioned, the median house price would vary a lot from area of New York (e.g., Queens, Manhattan, Brooklyn, etc.). I would suggest, however, that if you don't expect being in New York for an extended time, or if you don't have the capital / financial means to buy a house, renting is a reasonable option that many consider. When looking at rental properties, keep in mind the lease terms, if there will be a broker fee, the cost of utilities, and the appliances/amenities available in the unit you are looking to rent. These are often costs that are not considered by renters and can sneak up on you and make a place less affordable than was previously expected.

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Richard’s Answer

House price? If you're a young person working in NYC you're probably going to rent -- you can probably expect to drop about 30% of your income on housing/rent. A house would depend hugely on the area and is hugely variable

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