New York State Sees Decline In Homes Valued Below $200,000

 

QNEW YORK, N.Y. (NYCJ) — New York State saw the share of owner-occupied homes valued below $200,000 decline between 2019 and 2024, according to an analysis of U.S. Census Bureau estimates.

In 2019, approximately 32.69% of the state’s owner-occupied homes were valued below $200,000. By 2024, that share had fallen to 21.69%, a decline of 11 percentage points.

The estimated number of owner-occupied homes below the threshold dropped from approximately 1.30 million to 923,000. Meanwhile, the state’s total owner-occupied housing stock grew from about 3.99 million to 4.25 million homes.

New York ranked 39th among states for the largest percentage-point decline, placing it below many states that experienced more substantial shifts.

The findings offer a statewide snapshot, but they do not isolate New York City’s five boroughs or distinguish between the city’s housing market and conditions elsewhere in the state.

Researchers at Underwood Law analyzed American Community Survey table B25075 and defined homes below $200,000 as affordable for the purposes of the study. The threshold was not adjusted for inflation.

The estimates do not represent current listings, and the decline does not mean the homes were removed from the market. Some properties may have increased in value beyond the threshold.

For New York City residents, the figures provide broader state-level context, not a direct measurement of the city’s available affordable housing.