HPI (2025)FHFA
301
Metro Series · Northeast · Rank #1
Home Price History in New York
FHFA all-transactions House Price Index for the New York-Newark-Jersey City, NY-NJ metropolitan statistical area — annual data, 1975 through 2025, rebased to 100 in the year 2000.
YoY changeFHFA
+6.1%
5-yr changeFHFA
+54%
Since 2000FHFA
+201%
New York is a market of extremes — the most expensive ZIP codes in the world coexist with vast outer-borough neighborhoods that have appreciated less than the U.S. average over 30 years. The MSA's HPI tells a multi-cycle story: a 1990s recovery from the 1989 co-op crash, a 2000–2007 pre-crisis run that doubled the index, a -16% drawdown through 2012, and a steady recovery that resumed before the pandemic. The 2020–2022 surge was muted in Manhattan (offset by COVID-era exits) but pronounced across Hudson Valley and Long Island commuter ZIPs.
The 2007–2011 housing crisis cut the New York HPI by 21.2% peak-to-trough — from 194.4 in 2006 to 153.2 in 2012. For context, the U.S. national HPI fell roughly 24% over the same period, so New York was similarly affected than the national average.
The pandemic-era surge brought the New York HPI from 190.5 in 2019 to 300.9 in 2025 — a cumulative +58.0% move in 6 years. Compared to the U.S. national HPI's roughly 50% gain over the same period, New York appreciated roughly in line with the national rate.
Located in the Northeast region of the United States, New York is one of the 100 largest U.S. metropolitan statistical areas by population. Long-run housing appreciation in New York reflects a combination of regional employment trends, in-migration patterns, and local supply constraints. The full year-by-year FHFA HPI for New York is in the data table below.
To compare New York to the national U.S. housing market, see the national median price history dashboard. Other metros in the Northeast region: see the full metro index. For state-level data, see the state index.
Annual data — New York
FHFA House Price Index, 2000=100. Annual data; not seasonally adjusted. Source: U.S. Federal Housing Finance Agency.
| Year | HPI (2000=100) | YoY change |
|---|---|---|
| 2025 | 300.92 | +6.09% |
| 2024 | 283.64 | +8.41% |
| 2023 | 261.64 | +8.12% |
| 2022 | 241.99 | +12.94% |
| 2021 | 214.27 | +9.39% |
| 2020 | 195.87 | +2.84% |
| 2019 | 190.46 | +3.30% |
| 2018 | 184.38 | +4.44% |
| 2017 | 176.54 | +3.83% |
| 2016 | 170.03 | +3.32% |
| 2015 | 164.57 | +3.20% |
| 2014 | 159.46 | +3.37% |
| 2013 | 154.26 | +0.66% |
| 2012 | 153.25 | -2.90% |
| 2011 | 157.83 | -3.28% |
| 2010 | 163.19 | -3.64% |
| 2009 | 169.35 | -7.94% |
| 2008 | 183.96 | -4.80% |
| 2007 | 193.23 | -0.63% |
| 2006 | 194.45 | +7.96% |
| 2005 | 180.12 | +16.51% |
| 2004 | 154.59 | +14.49% |
| 2003 | 135.03 | +9.23% |
| 2002 | 123.62 | +11.66% |
| 2001 | 110.71 | +10.71% |
| 2000 | 100.00 | +13.92% |
| 1999 | 87.78 | +6.45% |
| 1998 | 82.46 | +4.99% |
| 1997 | 78.54 | +2.19% |
| 1996 | 76.86 | +1.87% |
| 1995 | 75.45 | +0.11% |
| 1994 | 75.37 | +0.13% |
| 1993 | 75.27 | +0.68% |
| 1992 | 74.76 | +0.73% |
| 1991 | 74.22 | -4.52% |
| 1990 | 77.73 | -4.26% |
| 1989 | 81.19 | -1.23% |
| 1988 | 82.20 | +9.45% |
| 1987 | 75.10 | +18.42% |
| 1986 | 63.42 | +22.67% |
| 1985 | 51.70 | +18.25% |
| 1984 | 43.72 | +18.10% |
| 1983 | 37.02 | +10.05% |
| 1982 | 33.64 | +6.05% |
| 1981 | 31.72 | +10.68% |
| 1980 | 28.66 | +12.00% |
| 1979 | 25.59 | +17.22% |
| 1978 | 21.83 | +9.15% |
| 1977 | 20.00 | +5.32% |
| 1976 | 18.99 | +1.77% |
| 1975 | 18.66 | — |
Methodology
The FHFA House Price Index is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same single-family properties. The all-transactions index incorporates both purchase mortgages and refinance appraisals; the index is calibrated to the Northeast census region and rebased to 100 in the year 2000. Coverage begins in 1975 for New York.