New York Real Estate and Livability Trends

The median home values in New York have seen significant growth over the past eight years, increasing from $283,400 in 2015 to $384,100 by 2022, outpacing national trends. Residential energy tax credits peaked in 2018 at $3,485.58, indicating a heightened interest in energy-efficient home modifications, which could improve property values. Real estate taxes have also seen a notable rise, from... $7,866.99 in 2012 to $12,544.55 in 2021, possibly reflecting escalating property values or tax rates, a critical metric for investors and homeowners. Additionally, the percentage of farm tax returns has slightly declined, from 0.31% in 2012 to 0.27% in 2021, hinting at a possible shift in the state's agricultural landscape. Read more

In New York, average taxable income per tax return has surged from $75,295.76 in 2013 to $111,171.24 in 2021, hinting at robust economic growth and a potentially appealing real estate market. Meanwhile, average state and local income taxes have also jumped significantly, from $14,478.89 in 2012 to $48,034.58 in 2021, spotlighting an increasing tax burden that could affect investment decisions. The average total tax liability has seen fluctuations over the past decade, peaking at $24,363.69 in... 2021, suggesting a dynamic tax landscape that affects property valuations and financial planning. These trends are crucial for real estate agents, investors, and potential buyers to consider when navigating the New York market. Read more

Property crime trends in New York over the last five years have seen significant fluctuations, particularly in fraud and vandalism. Fraud arrests peaked at $36,850.00 in 2018 but dipped to $7,775.00 by 2021, while vandalism arrests, peaking at $13,403.00 in 2018, have generally trended downward. Although arson and burglary numbers remain relatively stable, a notable decrease across most crime categories in 2021 might be linked to the pandemic. For real estate investors, this potential decrease... in burglary and forgery could signal improved safety in certain areas. Insurance agents may find these trends crucial for adjusting risk assessments and policy pricing. Read more

New York's adult population shows a slightly higher number of females compared to males. In terms of educational attainment, nearly half of New Yorkers possess an associate's degree or higher, which hints at a relatively educated workforce. The age distribution reflects a balanced spread across different age groups, with noticeable peaks in the 25 to 34 and 55 to 64 age ranges. Racially, a predominant share of the population identifies as White, but there is also significant representation from... Black or African American and Asian communities, as well as those identifying with some other race. These demographics provide a snapshot of a diverse and educated state, potentially influencing economic, social, and political trends. Read more

New York's real estate market trends may be subtly influenced by its strong Democratic lean, as seen in the 2020 U.S. Presidential Election where roughly 60% of votes leaned this way. This could hint at a preference for policies that may support affordable housing and urban development. On the other hand, the 37.5% vote for Republicans might suggest a considerable market for suburban and rural properties, reflecting a voter base that potentially values traditional, expansive housing options.... Minor parties had minimal impact, which might imply predictable market preferences and a stable political climate. Read more

New York's student-to-teacher ratio has fallen from nearly thirteen in 2014 to around eleven in 2023, dipping below the national average starting in 2018. This trend may attract homebuyers and families who value quality education, potentially making less crowded classrooms a notable selling point for real estate agents and investors. Such lower ratios often suggest enhanced learning environments, marking a competitive advantage in the real estate... market. Read more