Rental market data · 2024 Census estimates

New York, NY-NJ rental yield and cash flow

In the New York-Newark-Jersey City, NY-NJ metro, the median owner-occupied home was valued at $648,800 and the median gross rent was $1,851 a month in 2024. That is a gross rent yield of 3.42%, rank 92 of the 100 largest metros we track.

$648,800Median home value (±$2,533)

$1,851Median gross rent / mo (±$10)

3.42%Gross rent yield

29.2Price-to-rent ratio

1.54%Median taxes ÷ median value

49%Renter-occupied homes

0.29%Monthly rent ÷ price (1% rule)

19.94MMetro population

Does the median home cash flow at today's rate?

We priced a hypothetical rental at the metro medians: $648,800 purchase, $1,851 rent, 25% down, a 30-year loan at 7.28% (Freddie Mac's 30-year average for the week of October 1, 2026), $9,973 in annual property taxes, insurance at 0.5% of price, and 5% vacancy, 10% repairs and 8% management.

At these assumptions the median-priced home runs about $3,006 a month short of covering its costs (DSCR 0.10). Rent would need to reach about $5,754, 211% above the median, to break even, or the price would need to be near $86,982 for a 1.25 DSCR. Net operating income is about $3,886 a year, a 0.60% cap rate, against $39,953 of annual debt service.

Investment-property loans usually price above the owner-occupant average this survey reports, and your insurance quote, tax bill and rent will differ from a metro median. Change any input below.

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How New York compares

Metros with the nearest gross yields among the 100 we track. * Cash flow uses the same assumptions as above.

Rank	Metro	Median value	Median rent	Gross yield	Price-to-rent	Cash flow / mo*
89	Portland, OR-WA	$584,800	$1,767	3.63%	27.6	-$2,291
90	Providence, RI-MA	$471,000	$1,396	3.56%	28.1	-$1,950
91	Salt Lake City, UT	$575,200	$1,659	3.46%	28.9	-$2,158
92	New York, NY-NJ	$648,800	$1,851	3.42%	29.2	-$3,006
93	Seattle, WA	$743,000	$2,050	3.31%	30.2	-$3,068
94	Provo, UT	$584,600	$1,611	3.31%	30.2	-$2,214
95	Oxnard, CA	$869,300	$2,313	3.19%	31.3	-$3,531

What these numbers leave out

Census gross rent includes utilities when the tenant pays them, so it can overstate what a landlord collects. Median value describes owner-occupied homes, not the rental stock, and a metro median hides wide neighborhood differences. Treat this page as a screen, then underwrite the specific property.

Sources

U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25064 (median gross rent)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25077 (median value, owner-occupied housing units)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25103 (median real estate taxes paid)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25003 (housing tenure)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B01003 (total population)
Freddie Mac Primary Mortgage Market Survey (30-year fixed average, week of October 1, 2026)

Data snapshot October 7, 2026. Methodology: all metros.