2024 · New York
Rental yield in New York
In 2024, the typical rental in New York produced a gross yield of 4.4% — $1,634/mo median rent against a $450K median home value, ranking 35th of 51 states.
4.4%
Gross rental yield
below the 4.9% U.S. median
$1,634/mo
Median gross rent
incl. utilities (ACS)
$450K
Median home value
owner-occupied (ACS)
New York metros by yield
Metropolitan areas in New York with at least 65,000 residents, ranked by gross rental yield.
| Metro | Gross yield | Median rent | Median value |
|---|---|---|---|
| Elmira, NY | 8.4% | $1,029/mo | $147K |
| Binghamton, NY | 7.3% | $981/mo | $162K |
| Watertown-Fort Drum, NY | 7.2% | $1,226/mo | $205K |
| Syracuse, NY | 6.1% | $1,114/mo | $218K |
| Rochester, NY | 6.0% | $1,172/mo | $234K |
| Ithaca, NY | 5.8% | $1,515/mo | $315K |
| Utica-Rome, NY | 5.4% | $888/mo | $199K |
| Buffalo-Cheektowaga, NY | 5.3% | $1,114/mo | $253K |
| Glens Falls, NY | 5.2% | $1,140/mo | $266K |
| Albany-Schenectady-Troy, NY | 5.1% | $1,341/mo | $316K |
| Kingston, NY | 4.9% | $1,586/mo | $389K |
| Kiryas Joel-Poughkeepsie-Newburgh, NY | 4.7% | $1,688/mo | $435K |
| New York-Newark-Jersey City, NY-NJ | 3.4% | $1,851/mo | $649K |
Frequently asked questions
What is the gross rental yield in New York?
In 2024, New York had a gross rental yield of 4.4% — $1,634/mo median gross rent against a $450K median home value. That ranks 35th of 51 states (1 = highest yield). Nationally the figure was 4.9%.
Which New York metros have the best rental yield?
Among New York metros covered by the data, gross yield was highest in Elmira, NY (8.4%), Binghamton, NY (7.3%), and Watertown-Fort Drum, NY (7.2%).
Does this account for expenses or financing?
No. Gross yield is a top-line market screen — it excludes property taxes, insurance, vacancy, management, and financing. Use it to compare markets, then run a specific deal through a cap-rate or cash-flow calculator.
How investors finance deals in New York
Yield shows where the numbers work; our Investor Financing Report for New York shows the rate premium, denial rate, and DSCR lending investors face there.
Run a New York deal
Source: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Gross rental yield = (median gross rent × 12) ÷ median home value. A market screen, not a net return.