New York FHA Loan Rates, Closing Costs & Stats

New York-Newark-Jersey City, NY-NJ-PA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    New York's 249 lenders originated 16,811 FHA loans during 2023. The total origination value was $8,377,715,000, with an average FHA loan value of $498,347.

    New York FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in New York averaged 6.91% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    New York's average FHA mortgage closing costs are $14,669.

    The average rate for the prior week (2024-04-12) was 6.6% and one month ago for the week of 2024-03-15, the average rate was 6.36%.

    The average rate one year ago was 6.19%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.07%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    New York FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the New York level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 1,654 6.23% $24,412
    QUICKEN LOANS, LLC 1,277 6.13% $18,591
    CROSSCOUNTRY MORTGAGE, LLC 970 6.71% $21,634
    NATIONWIDE MORTGAGE BANKERS, INC. 594 6.65% $28,268
    CARDINAL FINANCIAL 563 6.45% $27,279
    CONTOUR MORTGAGE CORPORATION 413 6.52% $27,658
    LOANDEPOT.COM, LLC 407 6.29% $17,638
    PLAZA HOME MORTGAGE, INC. 400 6.32% $25,375
    Paramount Residential Mortgage Group, Inc. 391 6.55% $20,673
    Northpointe Bank 321 6.20% $21,696
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 316 6.65% $20,262
    GUARANTEED RATE, INC. 312 6.34% $18,838
    The Federal Savings Bank 308 6.13% $27,766
    PENNYMAC LOAN SERVICES, LLC 281 6.17% $21,875
    ABSOLUTE HOME MORTGAGE CORPORATION 277 6.61% $20,099
    MOVEMENT MORTGAGE, LLC 264 6.75% $22,017
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 256 6.46% $22,087
    NEWREZ LLC 254 6.38% $20,066
    NJ LENDERS CORP. 246 6.45% $18,357
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 222 6.63% $29,937
    AMERICAN FINANCIAL NETWORK, INC. 217 6.66% $24,940
    Advisors Mortgage Group, L.L.C. 217 6.63% $14,126
    East Coast Capital Corp. 197 6.50% $27,193
    UNITED NORTHERN MORTGAGE BANKERS LIMITED 191 6.57% $25,021
    HOMEBRIDGE FINANCIAL SERVICES, INC. 182 6.40% $23,724
    Mr. Cooper ( Nationstar Mortgage ) 168 5.96% $24,261
    MLB RESIDENTIAL LENDING, LLC 166 6.95% $23,389
    FREEDOM MORTGAGE CORPORATION 162 6.76% $20,850
    EMBRACE HOME LOANS, INC. 139 6.14% $19,563
    Equity Prime Mortgage LLC 127 6.80% $20,310
    CMG MORTGAGE, INC. 123 6.89% $21,187
    Carrington Mortgage Services, LLC 116 6.42% $22,092
    Flagstar Bank, FSB 116 6.31% $27,045
    CLIFFCO, INC. 114 6.42% $26,175
    JET DIRECT FUNDING CORP 101 6.66% $28,357
    BROKER SOLUTIONS, INC. 95 6.59% $16,221
    FIRST ALLIANCE HOME MORTGAGE, LLC 87 6.62% $22,671
    BOND STREET MORTGAGE, LLC 87 6.46% $19,904
    SUN WEST MORTGAGE COMPANY, INC. 87 6.40% $22,084
    Plains Commerce Bank 84 6.27% $26,044
    US MORTGAGE CORPORATION 82 6.59% $24,975
    EMM LOANS LLC 82 6.42% $20,942
    PLANET HOME LENDING, LLC 81 6.43% $23,527
    JPMorgan Chase Bank 79 6.28% $17,955
    JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 70 6.56% $24,501
    Nations Lending Corporation 69 6.79% $20,014
    NORWICH COMMERCIAL GROUP, INC. 67 6.46% $22,493
    RELIANCE FIRST CAPITAL, LLC 65 6.46% $19,879
    AMERISAVE MORTGAGE CORPORATION 65 6.09% $19,071
    Cornerstone First Mortgage, Inc 61 6.74% $21,113
    ALLIED MORTGAGE GROUP, INC. 60 6.44% $20,289
    CALIBER HOME LOANS, INC. 59 6.30% $19,805
    Keystone Funding, Inc. 58 6.21% $22,540
    MUTUAL OF OMAHA MORTGAGE, INC. 57 6.41% $21,090
    M&T Bank 57 6.14% $16,376
    UNION HOME MORTGAGE CORP. 52 6.50% $20,648
    FM Home Loans, LLC 51 6.44% $19,864
    HARTFORD FUNDING, LTD. 50 6.56% $28,244
    1ST 2ND MORTGAGE COMPANY OF N.J., INC. 48 6.54% $18,110
    Gateway First Bank 47 6.41% $17,080
    PANORAMA MORTGAGE GROUP, LLC 46 6.83% $23,598
    GUARANTEED RATE AFFINITY, LLC 45 6.47% $19,546
    Quontic Bank 44 6.51% $30,980
    BLAIR SERVICES OF AMERICA INC. 42 6.34% $24,954
    TD Bank 41 6.25% $14,250
    Prosperity Home Mortgage, LLC 41 6.39% $16,393
    INTERSTATE HOME LOAN CENTER, INC. 38 6.28% $26,569
    Citizens Bank 38 6.39% $18,774
    CONTINENTAL MORTGAGE BANKERS, INC. 37 6.36% $26,366
    MORTGAGE ACCESS CORP. 35 6.28% $18,262
    MID-ISLAND MORTGAGE CORP. 35 6.41% $23,622
    VAN DYK MORTGAGE CORPORATION 34 6.74% $15,426
    MLD MORTGAGE INC. 33 6.28% $19,675
    NFM, INC. 32 6.45% $19,422
    MY MORTGAGE, INC. 30 6.81% $21,729
    PRIMELENDING, A PLAINSCAPITAL COMPANY 29 6.66% $18,075
    VILLAGE CAPITAL MORTGAGE 28 6.58% $18,399
    RESIDENTIAL HOME FUNDING CORP. 27 6.63% $22,508
    U.S. Bank 26 6.38% $16,151
    Century Mortgage Company DBA Century Lending Company 26 6.37% $17,684
    SUCCESS MORTGAGE PARTNERS, INC. 25 6.31% $19,749
    Wells Fargo Bank 24 6.49% $19,081
    MILLENIUM HOME MORTGAGE, LLC 23 6.63% $17,991
    EVERETT FINANCIAL, INC. 22 6.80% $21,356
    Bethpage Federal Credit Union 22 6.69% $5,272
    ASSOCIATED MORTGAGE BANKERS, INC. 21 6.58% $23,998
    TOTAL MORTGAGE SERVICES, LLC 20 6.74% $23,354
    LAKEVIEW LOAN SERVICING, LLC 20 6.21% $18,531
    Bank of America 20 6.24% $15,807
    AMERICAN FINANCIAL RESOURCES, INC. 19 6.38% $23,779
    NETWORK CAPITAL FUNDING CORPORATION 19 5.75% $21,571
    LYNX MORTGAGE BANK LLC 19 6.78% $20,211
    GREENWAY MORTGAGE FUNDING CORP. 18 6.71% $18,748
    GREENTREE MORTGAGE COMPANY, L.P. 18 6.41% $13,966
    PHH Mortgage Corporation 18 6.17% $14,548
    Bank of England 17 6.39% $26,703
    Valley National Bank 17 6.04% $19,056
    Waterstone Mortgage Corporation 16 6.47% $22,232
    AMERICAN FINANCING CORPORATION 16 5.95% $16,934
    Financial Freedom Mortgage, LLC 16 6.29% $16,560
    HOMESIDE FINANCIAL, LLC 16 6.26% $20,984
    HOMESTEAD FUNDING CORP. 16 6.63% $13,703
    AmeriHome Mortgage Company, LLC 16 6.22% $15,308
    NATIONS DIRECT MORTGAGE, LLC 15 6.50% $21,822
    GENEVA FINANCIAL, LLC 15 6.83% $27,495
    GLENDENNING MORTGAGE CORPORATION 14 6.89% $18,681
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 14 6.51% $15,730
    First Savings Bank 14 6.11% $23,481
    PATRIOT ONE MORTGAGE BANKERS, LLC 14 6.29% $32,245
    NVR Mortgage Finance, Inc. 14 5.87% $19,232
    ENVOY MORTGAGE, LTD 13 6.38% $16,537
    DRAPER AND KRAMER MORTGAGE CORP. 13 6.14% $11,913
    NBKC BANK 13 6.17% $13,069
    AMERICAN FEDERAL MORTGAGE CORPORATION 13 6.38% $12,783
    PRIMARY RESIDENTIAL MORTGAGE, INC. 13 6.81% $14,112
    Lakeview Community Capital, LLC 12 6.27% $17,102
    Ixonia Bank 12 7.44% $14,614
    Barrington Bank & Trust Company, N.A. 12 6.13% $18,375
    PENTAGON FEDERAL CREDIT UNION 12 5.93% $15,445
    NATION ONE MORTGAGE CORPORATION 12 6.72% $27,800
    Acre Mortgage and Financial Inc 11 6.83% $14,855
    WALL STREET MORTGAGE BANKERS, LTD. 11 5.98% $28,227
    RESIDENTIAL HOME MORTGAGE CORPORATION 10 6.46% $20,622
    ARC HOME LLC 10 6.23% $22,902
    PNC Bank 10 6.60% $12,688
    Lakeland Bank 10 6.45% $18,396
    AMERICAN PACIFIC MORTGAGE CORPORATION 9 6.50% $19,021
    CHURCHILL MORTGAGE CORPORATION 9 6.60% $18,834
    ROYAL UNITED MORTGAGE LLC 9 6.86% $17,296
    LIBERTY HOME MORTGAGE CORPORATION 9 6.90% $24,065
    OCMBC, INC. 8 6.50% $19,422
    RESIDENTIAL BANCORP 8 6.72% $16,513
    LOANPAL, LLC 8 6.31% $19,189
    Citibank 8 6.25% $17,442
    PINNACLE MORTGAGE, INC. 8 6.78% $14,317
    VERITAS FUNDING, LLC 7 6.93% $20,311
    ATLANTIS MORTGAGE CO., INC. 7 6.59% $20,276
    EAGLE HOME MORTGAGE, LLC 7 6.30% $21,954
    MORTGAGE SOLUTIONS OF COLORADO, LLC 7 6.54% $16,675
    Meridian Bank Corporation 6 6.58% $10,611
    TOWNE MORTGAGE COMPANY 6 6.31% $13,591
    BETTER MORTGAGE CORPORATION 6 6.23% $19,315
    Loan Simple, Inc. 6 6.38% $19,244
    NP, Inc. 6 6.85% $24,095
    Evolve Bank & Trust 6 6.65% $17,693
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 5 6.85% $16,787
    First Federal Bank 5 6.13% $14,705
    DHI MORTGAGE COMPANY, LTD. 5 6.63% $17,174
    OCEANSIDE MORTGAGE COMPANY 5 6.08% $10,842
    The Huntington National Bank 5 6.30% $13,671
    The Loan Store, Inc. 5 7.30% $29,349
    Mortgage Research Center, LLC 4 6.50% $14,693
    Magnolia Bank 4 6.25% $30,678
    TIDEWATER MORTGAGE SERVICES, INC. 4 6.75% $14,313
    NATIONWIDE EQUITIES CORPORATION 4 6.50% $23,164
    Residential Mortgage Solutions, Inc. 4 6.34% $17,572
    GUILD MORTGAGE COMPANY 4 6.78% $15,025
    Fulton Bank 4 6.00% $17,444
    CIBM Bank 4 7.31% $13,196
    BAY EQUITY LLC 4 6.62% $17,185
    BAYSHORE MORTGAGE FUNDING, LLC 4 6.84% $33,386
    Summit Mortgage Corporation 4 6.44% $12,728
    First Internet Bank of Indiana 4 5.56% $11,699
    MDE Home Loans, LLC 4 6.72% $37,213
    Shamrock Home Loans, Inc. 3 6.75% $17,550
    MORIA DEVELOPMENT, INC. 3 6.50% $19,931
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 3 6.46% $22,229
    Kwik Mortgage Corporation 3 6.50% $13,165
    LADERA LENDING, INC. 3 5.91% $22,683
    BECKAM FUNDING CORP. 3 7.33% $29,826
    LENOX FINANCIAL MORTGAGE CORPORATION 3 6.58% $20,410
    ZILLOW HOME LOANS, LLC 3 6.63% $11,479
    BRIDGEVIEW MORTGAGE CORP. 3 5.79% $41,257
    MID AMERICA MORTGAGE, INC. 3 6.58% $17,657
    MICHIGAN MUTUAL, INC. 3 5.88% $13,689
    DEVELOPER'S MORTGAGE COMPANY 3 6.50% $23,152
    A&D Mortgage LLC 3 6.08% $23,295
    Hometown Equity Mortgage, LLC 3 6.75% $26,102
    CITY FIRST MORTGAGE SERVICES, L.L.C. 3 6.91% $18,122
    The Central Trust Bank 3 5.42% $17,401
    Encompass Lending Group, LP 3 6.33% $12,044
    CHERRY CREEK MORTGAGE, LLC 3 6.04% $8,557
    LOANLEADERS OF AMERICA, INC. 3 5.42% $29,214
    Wilmington Savings Fund Society, FSB 2 7.06% $15,955
    First Citizens Community Bank 2 6.94% $19,142
    FIRST HERITAGE FINANCIAL, LLC 2 6.25% $20,722
    LEGEND LENDING CORPORATION 2 6.88% $32,323
    LAND HOME FINANCIAL SERVICES, INC. 2 7.50% $20,255
    POLARIS HOME FUNDING CORP. 2 6.69% $13,793
    Princeton Mortgage Corporation 2 6.94% $18,238
    Semper Home Loans, Inc. 2 5.75% $24,154
    SUMMIT FUNDING, INC. 2 6.37% $30,617
    AmRes Corporation 2 6.81% $16,903
    GSF Mortgage Corporation 2 7.06% $10,919
    TOP FLITE FINANCIAL, INC. 2 7.19% $20,350
    Huntingdon Valley Bank 2 5.69% $10,346
    HUDSON VALLEY CREDIT UNION 2 6.81% $21,667
    AMERICAN BANCSHARES MORTGAGE 2 7.06% $24,155
    EQUITY NOW INC. 2 6.50% $18,900
    PULTE MORTGAGE LLC 1 6.25% $25,583
    ON Q FINANCIAL, INC. 1 7.25% $22,069
    Old National Bank 1 6.13% $11,328
    RADIUS FINANCIAL GROUP INC. 1 6.99% $14,434
    FIRST MORTGAGE COMPANY, INC. 1 7.13% $19,665
    KeyBank 1 6.25% $12,392
    Arvest Bank 1 7.38% $9,643
    First National Bank Texas 1 7.75% $21,054
    1st Colonial Community Bank 1 7.13% $11,669
    JMAC LENDING, INC. 1 5.13% $33,056
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.25% $22,798
    Heritage Bank 1 8.50% $18,271
    OceanFirst Bank 1 7.13% $16,428
    SOVEREIGN LENDING GROUP INCORPORATED 1 4.99% $21,747
    Strong Home Mortgage, LLC 1 6.25% $27,085
    Florida Capital Bank 1 6.75% $21,611
    HARBORONE MORTGAGE, LLC 1 7.38% $15,039
    North American Savings Bank, F.S.B. 1 6.63% $16,704
    SUNMARK FEDERAL CREDIT UNION 1 6.13% $19,023
    Forcht Bank 1 7.25% $13,186
    T2 FINANCIAL LLC 1 6.13% $37,991
    TBI MORTGAGE COMPANY 1 5.25% $30,475
    V.I.P. MORTGAGE, INC. 1 6.38% $21,226
    NexBank 1 6.75% $11,866
    HUNT MORTGAGE CORPORATION 1 6.75% $24,018
    FIDELITY DIRECT MORTGAGE, LLC 1 6.63% $14,817
    GuardHill Financial Corp. 1 6.25% $26,656
    The Union Bank Company 1 6.75% $10,931
    NEW FED MORTGAGE, CORP. 1 7.25% $13,960
    TJC Mortgage, Inc. 1 7.50% $12,493
    Watermark Capital, Inc. 1 6.25% $15,065
    Fifth Third Bank 1 5.75% $9,723
    Mortgage America, Inc. 1 6.75% $8,986
    Truist 1 7.10% $17,752
    Columbia Bank 1 6.63% $13,722
    HOMESPIRE MORTGAGE CORPORATION 1 7.25% $12,559
    MILEND, INC. 1 7.63% $15,909
    AMCAP MORTGAGE, LTD. 1 5.88% $8,645
    LEADERONE FINANCIAL CORPORATION 1 6.75% $17,633
    Philadelphia Mortgage Advisors, Inc. 1 5.25% $8,680
    Allied First Bank,sb 1 5.75% $21,009
    Byline Bank 1 6.50% $25,566
    CANOPY MORTGAGE, LLC 1 7.62% $43,007
    MEMBER FIRST MORTGAGE, LLC 1 7.25% $16,068
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.50% $36,301
    Premium Mortgage Corporation 1 5.88% $26,249
    Center City Mortgage and Investments LLC 1 6.75% $10,393
    OPEN MORTGAGE, LLC 1 7.00% $14,831
    DELMAR FINANCIAL COMPANY 1 6.25% $12,138
    ONY GLO, INC. 1 5.75% $16,588

    The top New York FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 1,654 FHA loans originated. Their average total fees are $24,412, which is $5,821 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee New York FHA lenders (with over 10 loans originated) are Bethpage Federal Credit Union ($5,272), DRAPER AND KRAMER MORTGAGE CORP. ($11,913), PNC Bank ($12,688), AMERICAN FEDERAL MORTGAGE CORPORATION ($12,783) and NBKC BANK ($13,069).

    The lowest rate New York FHA lenders (with over 10 loans originated) are NETWORK CAPITAL FUNDING CORPORATION (5.75%), NVR Mortgage Finance, Inc. (5.87%), PENTAGON FEDERAL CREDIT UNION (5.93%), AMERICAN FINANCING CORPORATION (5.95%) and Mr. Cooper ( Nationstar Mortgage ) (5.96%).

    New York FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA BERGEN 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA ESSEX 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA HUDSON 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA HUNTERDON 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA MIDDLESEX 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA MONMOUTH 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA MORRIS 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA OCEAN 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA PASSAIC 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA SOMERSET 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA SUSSEX 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA UNION 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA BRONX 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA KINGS 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA NASSAU 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA NEW YORK 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA PUTNAM 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA QUEENS 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA RICHMOND 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA ROCKLAND 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA SUFFOLK 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA WESTCHESTER 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA PIKE 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA BERGEN 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA ESSEX 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA HUDSON 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA HUNTERDON 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA MIDDLESEX 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA MONMOUTH 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA MORRIS 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA OCEAN 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA PASSAIC 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA SOMERSET 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA SUSSEX 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA UNION 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA BRONX 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA KINGS 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA NASSAU 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA NEW YORK 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA PUTNAM 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA QUEENS 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA RICHMOND 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA ROCKLAND 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA SUFFOLK 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA WESTCHESTER 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA PIKE 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - New York (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $499,000 (13.2%) $1,184,160 (11.5%) 1.85 48,059
    2018-02-01 $519,000 (14.2%) $1,187,602 (7.0%) 1.88 50,498
    2018-03-01 $529,995 (11.6%) $1,166,065 (4.1%) 1.86 54,028
    2018-04-01 $549,444 (12.1%) $1,162,682 (1.3%) 1.86 57,178
    2018-05-01 $559,000 (11.9%) $1,155,902 (1.3%) 1.87 62,355
    2018-06-01 $559,900 (12.0%) $1,137,861 (0.1%) 1.87 65,388
    2018-07-01 $552,906 (10.6%) $1,118,327 (-0.6%) 1.85 66,067
    2018-08-01 $549,000 (10.2%) $1,085,063 (-1.6%) 1.84 65,240
    2018-09-01 $549,900 (10.2%) $1,092,650 (-2.4%) 1.85 65,820
    2018-10-01 $549,999 (8.6%) $1,103,826 (-3.8%) 1.86 66,122
    2018-11-01 $549,900 (10.0%) $1,115,364 (-3.3%) 1.86 63,702
    2018-12-01 $540,000 (8.0%) $1,115,460 (-4.2%) 1.86 57,615
    2019-01-01 $535,000 (7.2%) $1,114,717 (-5.9%) 1.85 53,016
    2019-02-01 $547,000 (5.4%) $1,128,541 (-5.0%) 1.85 55,002
    2019-03-01 $560,143 (5.7%) $1,129,863 (-3.1%) 1.83 58,572
    2019-04-01 $575,000 (4.7%) $1,125,947 (-3.2%) 1.83 62,598
    2019-05-01 $589,000 (5.4%) $1,130,704 (-2.2%) 1.84 68,043
    2019-06-01 $585,000 (4.5%) $1,121,806 (-1.4%) 1.83 69,942
    2019-07-01 $575,000 (4.0%) $1,107,826 (-0.9%) 1.80 68,901
    2019-08-01 $575,818 (4.9%) $1,102,079 (1.6%) 1.82 68,031
    2019-09-01 $577,045 (4.9%) $1,114,839 (2.0%) 1.85 67,163
    2019-10-01 $577,864 (5.1%) $1,125,085 (1.9%) 1.86 66,023
    2019-11-01 $575,000 (4.6%) $1,138,373 (2.1%) 1.89 62,133
    2019-12-01 $574,500 (6.4%) $1,164,085 (4.4%) 1.92 54,253
    2020-01-01 $565,000 (5.6%) $1,173,101 (5.2%) 1.89 49,998
    2020-02-01 $575,000 (5.1%) $1,176,805 (4.3%) 1.88 51,374
    2020-03-01 $589,950 (5.3%) $1,181,583 (4.6%) 1.85 52,870
    2020-04-01 $598,900 (4.2%) $1,221,296 (8.5%) 1.88 48,980
    2020-05-01 $599,000 (1.7%) $1,197,316 (5.9%) 1.82 48,638
    2020-06-01 $599,944 (2.6%) $1,191,273 (6.2%) 1.77 51,185
    2020-07-01 $627,000 (9.0%) $1,207,357 (9.0%) 1.82 54,352
    2020-08-01 $641,617 (11.4%) $1,249,587 (13.4%) 1.84 54,377
    2020-09-01 $649,000 (12.5%) $1,263,476 (13.3%) 1.86 54,572
    2020-10-01 $649,999 (12.5%) $1,292,377 (14.9%) 1.86 55,661
    2020-11-01 $649,000 (12.9%) $1,307,486 (14.9%) 1.90 52,172
    2020-12-01 $649,000 (13.0%) $1,328,343 (14.1%) 1.93 46,928
    2021-01-01 $649,000 (14.9%) $1,374,981 (17.2%) 1.94 40,456
    2021-02-01 $649,950 (13.0%) $1,399,017 (18.9%) 1.89 38,707
    2021-03-01 $649,000 (10.0%) $1,383,278 (17.1%) 1.84 38,458
    2021-04-01 $649,946 (8.5%) $1,391,889 (14.0%) 1.76 40,115
    2021-05-01 $649,993 (8.5%) $1,379,846 (15.2%) 1.73 42,335
    2021-06-01 $645,371 (7.6%) $1,340,463 (12.5%) 1.70 44,880
    2021-07-01 $625,000 (-0.3%) $1,297,035 (7.4%) 1.65 45,172
    2021-08-01 $617,000 (-3.8%) $1,281,311 (2.5%) 1.65 44,667
    2021-09-01 $605,000 (-6.8%) $1,284,368 (1.7%) 1.61 43,617
    2021-10-01 $619,000 (-4.8%) $1,303,095 (0.8%) 1.65 43,542
    2021-11-01 $621,950 (-4.2%) $1,352,359 (3.4%) 1.66 39,093
    2021-12-01 $619,250 (-4.6%) $1,384,948 (4.3%) 1.68 32,921
    2022-01-01 $625,000 (-3.7%) $1,494,423 (8.7%) 1.69 28,164
    2022-02-01 $637,125 (-2.0%) $1,442,220 (3.1%) 1.66 28,498
    2022-03-01 $649,444 (0.1%) $1,450,238 (4.8%) 1.63 30,421
    2022-04-01 $660,000 (1.6%) $1,447,922 (4.0%) 1.57 32,090
    2022-05-01 $675,000 (3.9%) $1,431,626 (3.8%) 1.54 36,015
    2022-06-01 $675,000 (4.6%) $1,377,710 (2.8%) 1.50 38,789
    2022-07-01 $659,000 (5.4%) $1,336,068 (3.0%) 1.48 41,010
    2022-08-01 $650,000 (5.4%) $1,318,875 (2.9%) 1.50 40,176
    2022-09-01 $660,130 (9.1%) $1,365,889 (6.4%) 1.54 39,681
    2022-10-01 $674,894 (9.0%) $1,454,762 (11.6%) 1.59 40,045
    2022-11-01 $669,500 (7.7%) $1,497,072 (10.7%) 1.61 38,648
    2022-12-01 $660,000 (6.6%) $1,519,502 (9.7%) 1.63 33,979
    2023-01-01 $662,500 (6.0%) $1,547,512 (3.6%) 1.64 30,692
    2023-02-01 $679,950 (6.7%) $1,577,557 (9.4%) 1.64 30,173
    2023-03-01 $698,500 (7.6%) $1,590,414 (9.7%) 1.65 30,144
    2023-04-01 $699,999 (6.1%) $1,611,863 (11.3%) 1.63 31,313
    2023-05-01 $734,500 (8.8%) $1,672,672 (16.8%) 1.67 32,425
    2023-06-01 $749,000 (11.0%) $1,623,987 (17.9%) 1.68 33,254
    2023-07-01 $737,430 (11.9%) $1,591,760 (19.1%) 1.68 33,111
    2023-08-01 $717,000 (10.3%) $1,555,281 (17.9%) 1.65 32,798
    2023-09-01 $719,000 (8.9%) $1,541,683 (12.9%) 1.67 34,732
    2023-10-01 $729,444 (8.1%) $1,608,212 (10.6%) 1.72 33,897
    2023-11-01 $727,931 (8.7%) $1,667,818 (11.4%) 1.73 34,211
    2023-12-01 $734,142 (11.2%) $1,758,935 (15.8%) 1.79 29,215
    2024-01-01 $741,500 (11.9%) $1,742,252 (12.6%) 1.81 26,933
    2024-02-01 $749,500 (10.2%) $1,686,410 (6.9%) 1.80 27,182
    2024-03-01 $759,900 (8.8%) $1,681,115 (5.7%) 1.79 28,856
    New York's median listing price for 2024-03-01 was $759,900, a difference of $61,400 (8.8%) versus the prior year and $10,400 versus the prior month.

    New York's median listing price comes in at 179% of the national average.

    New York's average listing price for 2024-03-01 was $1,681,115, a difference of $90,701 (5.7%) versus the prior year and $-5,295 versus the prior month.

    For the 2024-03-01 period, New York had 28,856 MLS listings, a difference of 1,674 listings (6%) versus the prior month and -1,288 listings (-4%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - New York (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 84 days 1,842 sqft
    2018-02-01 72 days 1,855 sqft
    2018-03-01 52 days 1,880 sqft
    2018-04-01 51 days 1,893 sqft
    2018-05-01 46 days 1,907 sqft
    2018-06-01 50 days 1,918 sqft
    2018-07-01 59 days 1,920 sqft
    2018-08-01 65 days 1,913 sqft
    2018-09-01 66 days 1,900 sqft
    2018-10-01 64 days 1,887 sqft
    2018-11-01 65 days 1,865 sqft
    2018-12-01 78 days 1,842 sqft
    2019-01-01 82 days 1,823 sqft
    2019-02-01 73 days 1,833 sqft
    2019-03-01 59 days 1,866 sqft
    2019-04-01 50 days 1,906 sqft
    2019-05-01 50 days 1,921 sqft
    2019-06-01 55 days 1,930 sqft
    2019-07-01 64 days 1,922 sqft
    2019-08-01 67 days 1,917 sqft
    2019-09-01 69 days 1,908 sqft
    2019-10-01 70 days 1,901 sqft
    2019-11-01 71 days 1,854 sqft
    2019-12-01 85 days 1,835 sqft
    2020-01-01 90 days 1,821 sqft
    2020-02-01 75 days 1,840 sqft
    2020-03-01 54 days 1,854 sqft
    2020-04-01 71 days 1,860 sqft
    2020-05-01 85 days 1,870 sqft
    2020-06-01 86 days 1,866 sqft
    2020-07-01 47 days 1,806 sqft
    2020-08-01 47 days 1,760 sqft
    2020-09-01 51 days 1,705 sqft
    2020-10-01 51 days 1,692 sqft
    2020-11-01 60 days 1,652 sqft
    2020-12-01 74 days 1,612 sqft
    2021-01-01 84 days 1,574 sqft
    2021-02-01 78 days 1,539 sqft
    2021-03-01 55 days 1,538 sqft
    2021-04-01 44 days 1,550 sqft
    2021-05-01 41 days 1,571 sqft
    2021-06-01 44 days 1,582 sqft
    2021-07-01 47 days 1,592 sqft
    2021-08-01 53 days 1,588 sqft
    2021-09-01 57 days 1,566 sqft
    2021-10-01 57 days 1,539 sqft
    2021-11-01 59 days 1,510 sqft
    2021-12-01 70 days 1,465 sqft
    2022-01-01 79 days 1,436 sqft
    2022-02-01 60 days 1,416 sqft
    2022-03-01 40 days 1,438 sqft
    2022-04-01 39 days 1,452 sqft
    2022-05-01 38 days 1,508 sqft
    2022-06-01 39 days 1,558 sqft
    2022-07-01 44 days 1,568 sqft
    2022-08-01 54 days 1,555 sqft
    2022-09-01 59 days 1,550 sqft
    2022-10-01 59 days 1,538 sqft
    2022-11-01 62 days 1,527 sqft
    2022-12-01 75 days 1,502 sqft
    2023-01-01 82 days 1,489 sqft
    2023-02-01 75 days 1,483 sqft
    2023-03-01 55 days 1,488 sqft
    2023-04-01 50 days 1,496 sqft
    2023-05-01 48 days 1,503 sqft
    2023-06-01 51 days 1,525 sqft
    2023-07-01 54 days 1,552 sqft
    2023-08-01 59 days 1,557 sqft
    2023-09-01 60 days 1,560 sqft
    2023-10-01 56 days 1,564 sqft
    2023-11-01 58 days 1,559 sqft
    2023-12-01 71 days 1,543 sqft
    2024-01-01 79 days 1,509 sqft
    2024-02-01 69 days 1,500 sqft
    2024-03-01 50 days 1,502 sqft
    New York's median listing age (time on market) for 2024-03-01 was 50 days. This is -9% shorter than the same period one year ago.

    New York's median square footage for active listings during the 2024-03-01 period was 1,502 sqft. One year prior, the average listing was 1,488 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).