Manya Rathore
Research expert covering India
New York Residential Real Estate - statistics & facts
New York City has long captured the world’s imagination as a place of opportunity, where anyone can chase their dreams and realize their full potential. For over three hundred years, people from all walks of life have migrated to New York City to settle down and start new lives in the thriving metropolis. However, in recent years New York has become better known for being a prohibitively expensive city to live in and own property. In 2020, the average annual salary needed to buy a median priced home in New York City was close to 107,000 U.S. dollars. This was significantly higher than in other large metros such as Chicago (65,000 U.S. dollars), Dallas (64,000 U.S. dollars), or the national average (60,500 U.S. dollars).
