What Is the Average Home Price in New York City Right Now in September 2026

The citywide median home price in New York City sits at roughly $780,000 in September 2026, covering all five boroughs and all residential property types from co-ops and condos to townhouses and single-family homes. That figure is a useful starting point, but it can obscure as much as it reveals. A studio co-op in Astoria and a four-bedroom brownstone in Park Slope both count toward that median, so understanding the breakdown is essential before you make any financial decision.

For current transaction-level data and historical price charts, PropertyShark's NYC residential market trends page is one of the most granular public resources available, updated regularly with recorded sale prices across all boroughs.

Median vs. Average: Why Both Numbers Matter

The median and the average tell different stories. The median, which is the price at which half of all sales fall above and half fall below, is less sensitive to a handful of ultra-luxury closings at $20 million or more. The average, by contrast, gets pulled upward whenever a penthouse in Tribeca or a townhouse on the Upper East Side records a sale. In September 2026, the average sale price across New York City is closer to $1.1 million when luxury transactions are included, while the median holds near $780,000. Both numbers are real; they just answer different questions.

How Property Type Changes the Picture

New York City's housing stock is unlike almost any other market in the country. Co-ops, which are owned through shares in a corporation rather than a deed, make up roughly 70 percent of Manhattan's for-sale residential inventory and typically carry lower asking prices than comparable condos because of board approval requirements and financing restrictions. In September 2026, the median co-op price in Manhattan is approximately $875,000, while the median condo price is closer to $1.35 million. Condos offer more financing flexibility and are generally easier to sublease, which is reflected in the premium buyers pay. Townhouses and two-to-four-family homes, concentrated heavily in Brooklyn, Queens, and the Bronx, trade in a wide range from around $600,000 in parts of the Bronx to well over $4 million in prime Brooklyn neighborhoods.

2. Borough-by-Borough Price Breakdown Right Now

The most useful way to answer what the average home price in New York City is right now in September 2026 is to look at each borough separately. Each borough has its own housing stock, its own price floor and ceiling, and its own supply-and-demand dynamics. Here is where each one stands this month.

Manhattan

Manhattan median home price: approximately $1.18 million in September 2026. Manhattan remains the most expensive borough by a significant margin. The inventory here skews heavily toward co-ops and condos in mid-rise and high-rise buildings. Entry-level studios in neighborhoods like Washington Heights or Inwood can be found in the $400,000 to $550,000 range. Move into Midtown, the Upper West Side, or Chelsea and one-bedroom condos routinely list above $1 million. The highest-priced transactions continue to cluster in Tribeca, the West Village, and the Upper East Side, where full-floor condos and townhouses regularly exceed $10 million.

Brooklyn

Brooklyn median home price: approximately $870,000 in September 2026. Brooklyn's housing stock is more varied than Manhattan's, ranging from pre-war brownstones in Carroll Gardens and Cobble Hill to newer condo towers along the waterfront in Williamsburg and DUMBO. Attached two-family homes in neighborhoods like East Flatbush and Canarsie typically list in the $700,000 to $950,000 range. Detached single-family homes in Dyker Heights and Bay Ridge often fall between $900,000 and $1.4 million. At the top of the market, converted carriage houses and landmark townhouses in Brooklyn Heights and Park Slope can exceed $4 million.

Queens

Queens median home price: approximately $680,000 in September 2026. Queens offers some of the widest price diversity of any borough. Co-ops in Rego Park and Forest Hills list from the mid-$200,000s for studios up to around $600,000 for spacious two-bedrooms. Semi-detached single-family homes in Bayside and Fresh Meadows typically range from $750,000 to $1.1 million. Flushing, with its dense mix of condos and mixed-use buildings, has seen consistent price appreciation over the past three years. Long Island City, directly across the East River from Midtown Manhattan, has a growing condo inventory with prices often between $800,000 and $1.5 million for units with skyline views.

The Bronx

The Bronx median home price: approximately $540,000 in September 2026. The Bronx carries the lowest median of the five boroughs and represents the most accessible price point for buyers looking to own within city limits. Two-family homes in Pelham Bay and Morris Park typically list between $550,000 and $800,000. Riverdale, in the northwest corner of the Bronx along the Hudson River, has a distinct stock of pre-war co-op buildings and single-family homes on larger lots, with prices ranging from around $300,000 for a co-op studio to over $2 million for a detached house with a yard. Co-op City, the massive residential complex in the northeastern Bronx, offers some of the lowest per-unit prices in the city, with shares often trading between $90,000 and $200,000.

Staten Island

Staten Island median home price: approximately $615,000 in September 2026. Staten Island is the only borough where detached single-family homes on private lots are the dominant housing type, which gives it a feel closer to a suburban market than the rest of New York City. Homes in St. George and Stapleton, near the Staten Island Ferry terminal, tend to list between $450,000 and $700,000. Moving further south into Tottenville and Great Kills, lot sizes increase and prices for newer construction colonials and Victorians often run from $700,000 to over $1 million. The ferry to Lower Manhattan takes approximately 25 minutes and remains free, making the commute a practical consideration for buyers evaluating this borough.

3. What Is Driving NYC Home Prices in September 2026

Several forces are shaping the current price environment. Understanding them helps buyers and sellers anticipate where prices may move in the months ahead, rather than simply reacting to what already happened.

Inventory Levels and Listing Activity

Active listings across New York City remain below historical norms in September 2026. Manhattan has seen a modest uptick in new listings compared to the same period in 2025, but the overall supply is still tight enough to sustain upward price pressure in the most in-demand pockets. Brooklyn and Queens are seeing more competition per listing than in 2024, with well-priced properties in move-in condition often receiving multiple offers within the first two weeks. The Bronx and Staten Island have slightly more available inventory relative to demand, which is one reason median prices there have not risen as sharply on a percentage basis.

Mortgage Rate Environment

The 30-year fixed mortgage rate is hovering near 6.4 percent in September 2026, down from the peaks above 7.5 percent seen in late 2023 and 2024. That decline has brought some buyers back into the market who had been waiting on the sidelines. However, rates remain meaningfully higher than the sub-3-percent environment of 2020 and 2021, which continues to suppress the number of existing homeowners willing to sell and give up their locked-in low rates. That lock-in effect is a primary reason inventory has not fully recovered even as demand has picked back up.

New Development Pipeline

New construction is adding supply in targeted pockets of the city. Long Island City in Queens and the Greenpoint-Williamsburg waterfront in Brooklyn continue to see condo towers deliver units to market in 2026. Hudson Yards on Manhattan's West Side still has new inventory coming online at prices that start around $2 million for one-bedrooms and climb steeply from there. In the Bronx, the Jerome Avenue corridor has seen new affordable and mixed-income housing construction that is adding units to a borough that has historically had limited new residential development. These new buildings create localized pockets of increased supply, which can moderate price growth in those specific submarkets.

4. How Prices Compare to One Year Ago

Citywide, the median home price in New York City is up approximately 4.2 percent compared to September 2025. That is a moderate but meaningful gain, and it reflects a market that has stabilized after the volatility of the 2022 to 2024 period. The New York State Association of REALTORS tracks these figures monthly, and their market data reports provide statewide and regional context that is useful for understanding how New York City's trajectory compares to suburban and upstate markets.

Year-Over-Year Shifts by Borough

The borough-level year-over-year changes tell a more nuanced story. Brooklyn has seen the sharpest appreciation, up roughly 5.8 percent from September 2025, driven by continued demand for townhouses and the relative scarcity of new listings in established neighborhoods. Manhattan's median is up about 3.1 percent over the same period, a steadier pace that reflects the large share of co-ops in its inventory, which tend to appreciate more slowly than condos. Queens is up approximately 4.9 percent year-over-year, with Long Island City and Flushing contributing disproportionately to that gain. The Bronx has seen a 3.7 percent increase, and Staten Island is up about 3.4 percent, both tracking closer to the broader city average.

What the Trend Means for Buyers and Sellers

Consistent year-over-year appreciation at a moderate pace is generally a sign of a market in equilibrium rather than one in a speculative bubble. For sellers, it means that pricing strategically at or slightly below recent comparable sales tends to generate more activity than overpricing and then reducing. For buyers, it means that waiting for prices to drop significantly is likely to cost more than acting now, particularly if rates continue to drift lower and bring more competing buyers into the market. Neither side has an overwhelming advantage in September 2026; it is a market where preparation and local knowledge matter more than timing.

5. What These Numbers Mean If You Are Buying or Selling Right Now

Knowing the average home price in New York City is only useful if you can connect it to your specific situation. Here is what the current data means in practical terms for each side of a transaction.

Practical Takeaways for Buyers

Get pre-approved before you tour anything. In a market where well-priced listings in Brooklyn and Queens are moving quickly, showing up without a pre-approval letter puts you at a disadvantage from the first offer. Co-op purchases require an additional layer of preparation: boards typically want to see liquid assets equal to one to two years of maintenance fees and mortgage payments post-closing, so your financial documents need to be in order well before you find the apartment you want.

Budget for closing costs that are higher than in most other states. New York City buyers typically pay a mortgage recording tax of 1.8 percent on loans under $500,000 and 1.925 percent on loans above that threshold. The mansion tax, a buyer-paid transfer tax, applies to purchases at $1 million and above, starting at 1 percent and rising in steps to 3.9 percent for properties over $25 million. Title insurance, attorney fees, and co-op application fees add further to the total. Budget roughly 2 to 4 percent of the purchase price in closing costs on top of your down payment.

For a broader look at what to expect when buying in this market, the guide on homes for sale in New York City covers the full process from search to closing in detail.

Practical Takeaways for Sellers

Pricing accuracy is the single most important factor in how quickly your property sells and at what final number. In September 2026, buyers in New York City are informed. They are tracking price histories on listing platforms, and they notice when a property has been sitting for 45 or 60 days. A property that launches at the right price, supported by professional photography and a well-written description, generates more showings in the first two weeks than one that starts too high and chases the market down with reductions.

Sellers in New York City also pay a transfer tax of 1 percent on sales under $500,000 and 1.425 percent on sales at or above that threshold. For sales of $3 million or more, an additional 0.25 percent applies. Attorney fees for sellers are also standard in New York. Factor these costs into your net proceeds calculation before you decide on your asking price.