New York County, New York: What It Costs to Buy a Home
The median home in New York County is worth $1,090,500, property taxes on it run about $10,001 a year (0.9%), the FHA loan limit is $1,249,125, and closing on it means about $30,805 in transfer tax plus $5,977 in title insurance. Each number below opens its own page with the source and a calculator.
| Median home value | $1,090,500 | Title insurance at this price → |
|---|---|---|
| Property taxes (median paid) | $10,001 a year, 0.9% of value | Property tax page → |
| FHA loan limit (1 unit) | $1,249,125 | Loan limits page → |
| Conforming loan limit (1 unit) | $1,209,750 | Loan limits page → |
| Transfer tax on the median home | $30,805 (incl. NYC Real Property Transfer Tax (RPTT)) | New York transfer tax page → |
| Title insurance on the median home | $4,598 owner's + $1,379 lender's | Title insurance page → |
| Recording fees (deed + mortgage) | $154 | Recording fees page → |
| Closing costs from these items | $36,936 | Closing costs page → |
| Down payment help | 2 local programs found | First-time buyer page → |
| Area median income (HUD, family of 4) | $104,300; low-income limit $135,700 | Income limits page → |
Frequently asked questions
How much do homes cost in New York County?
The median owner-occupied home in New York County is valued at $1,090,500, per U.S. Census Bureau QuickFacts: New York County, New York - Median value of owner-occupied housing units, 2020-2024 (ACS 5-Year).
How much are property taxes in New York County?
The median New York County homeowner pays $10,001 a year in real estate taxes, about 0.9% of the median home value ($10,001 for homes with a mortgage), per the Census Bureau's American Community Survey.
What is the FHA loan limit in New York County?
$1,249,125 for a one-unit home in 2026 (a high-cost limit above the national floor), per HUD; the conforming limit for Fannie Mae and Freddie Mac loans is $1,209,750, per FHFA.
What does it cost to close on a home in New York County?
On the $1,090,500 median home: transfer tax $30,805, title insurance $5,977 for both policies, recording fees about $154, about $36,936 for those items before lender fees, prepaid taxes and insurance.
What is the area median income in New York County?
HUD's FY 2026 median family income for New York County (New York, NY HUD Metro FMR Area) is $104,300. A family of four counts as low income below $135,700 under HUD's 80% tier (adjusted for local housing costs, so it can sit above 80% of the median), which is the line many first-time buyer assistance programs use.
Nearby New York counties
- Monroe County $197,100
- Montgomery County $141,600
- Nassau County $658,700
- Niagara County $177,400
- Oneida County $171,100
- Onondaga County $185,300
Sources
- U.S. Census Bureau QuickFacts: New York County, New York - Median value of owner-occupied housing units, 2020-2024 (ACS 5-Year)
- U.S. Census Bureau, ACS 2019-2023 five-year estimates, table B25103 (median real estate taxes paid)
- HUD, FHA forward mortgage loan limits for calendar year 2026 (CHUMS county limits file, Mortgagee Letter 2025-23)
- FHFA, conforming loan limits for mortgages acquired in calendar year 2026, by county
Figures are computed from the documents above and rounded to the dollar. All sources.
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General information, not financial, tax or legal advice. Figures are medians and schedule computations, not quotes.
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