MarketsRun a deal in this market
State · NY
New York
Data as of November 2024· Sources: Zillow ZHVI/ZORI, Census ACS
Strategy
Median home value
$477k
+3.5%Zillow ZHVI
Median rent
$2,400/mo
+3.8%Zillow ZORI
Gross yield
6.04%
Rent × 12 / value
Rent/price ratio
0.000%
1% rule benchmark
Median household income
$81,386
Census ACS
Owner-occupied
53.8%
Census ACS
Renter-occupied
46.2%
Census ACS
Population
-
Census ACS
What this means for LTR investors
Gross yield of 6.04% is below the 7% LTR sweet spot; you'd lean on appreciation here.
Rent grew 3.8% YoY while values moved 3.5%. That gap drives whether yield compresses or expands over time.
Renter share is 46% - a deep renter pool means lower vacancy risk in New York.
Median income of $81,386 sets the affordability ceiling on rent growth.