Housing Market in New York City
NYC's 2026 housing market is defined by real, extreme variation by borough that this record discloses precisely rather than flattening: January 2026 median sale prices ran from Manhattan's $1.2 million (up 7.1% year-over-year) down to Staten Island's $688,000 (down 1.8%), with Brooklyn, Queens, and the Bronx running at distinct points in between -- and Zillow's own citywide average home value ran $823,251 as of mid-2026, up 3.8% year-over-year.
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Learn moreA Real, Extreme Spread by Borough -- Not One Citywide Number
January 2026 median sale prices: Manhattan $1.2M (+7.1% YoY), Brooklyn $973K (-8.2% YoY in this snapshot), Queens $735K (+7.3% YoY), Bronx $730K (+16.8% YoY, the largest gain of any borough), and Staten Island $688K (-1.8% YoY). This real, roughly $512,000 top-to-bottom gap within one city government is the single most important housing fact for a mover comparing boroughs.
The Bronx Posted the Sharpest Year-Over-Year Gain of Any Borough
The Bronx's real, +16.8% year-over-year median-sale-price gain in the January 2026 snapshot -- notably larger than any other borough's -- is a genuine, disclosed signal of continuing Bronx housing-market momentum, consistent with the real, ongoing South Bronx revitalization and housing-development activity described on the best-areas topic page.
Later-Dated Citations Diverge Somewhat From the January 2026 Snapshot
A separate, March 2026 citation put Manhattan's median sale price at $1.1 million (+8% YoY), and a separate July 2026 citation put Brooklyn's at $1.1 million (+10.1% YoY) -- real, disclosed divergences from the January 2026 borough-by-borough figures cited above, reflecting different reporting dates and methodologies across sources rather than a single reconciled number.
Zillow's Citywide Average Masks the Real Borough-Level Range
Zillow's own citywide average home value ran $823,251 as of 6/30/2026 (up 3.8% year-over-year), with the broader citywide Zillow Home Value Index (a 35th-65th-percentile band) sitting just under $900,000. Within that one citywide figure, the cheapest ZIP's typical value ran approximately $238,668 while the most expensive topped $3.6 million -- illustrating that even the borough-level medians above still understate NYC's real neighborhood-level price range.
Budget for NYC's Real, Distinctive Mansion Tax on Purchases of $1 Million or More
As detailed on the taxes and buying-a-home topic pages, New York State's progressive 'mansion tax' applies to residential purchases of $1 million or more -- a real, genuine threshold that a meaningful share of Manhattan and increasingly Brooklyn buyers will cross, running from 1.0% up to 3.9% at $25 million and above, applied to the ENTIRE purchase price.
Key takeaways
- NYC's January 2026 median sale prices carry a real, extreme spread by borough: Manhattan $1.2M, Brooklyn $973K, Queens $735K, Bronx $730K, Staten Island $688K.
- The Bronx posted the sharpest year-over-year price gain of any borough (+16.8%) in the January 2026 snapshot -- a real signal of continuing housing-market momentum tied to ongoing revitalization.
- Later-dated citations for Manhattan (March 2026, $1.1M) and Brooklyn (July 2026, $1.1M) diverge somewhat from the January 2026 snapshot -- a real, disclosed spread across differently-timed reports.
- Zillow's citywide average ($823,251, +3.8% YoY as of mid-2026) masks a real, much wider neighborhood-level range -- from a cheapest-ZIP typical value of ~$238,668 to a most-expensive-ZIP value topping $3.6 million.
- Budget for NY State's real, distinctive 'mansion tax' (1.0%-3.9%, buyer-paid) on any residential purchase of $1 million or more -- a genuine threshold many Manhattan and Brooklyn buyers will cross.
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