Manhattan NY Single Family Homes For Sale - 89 Homes | Zillow (2024)

FAQs

What is the average price of a single family home in NYC? ›

Recent Trends in NYC's Home Purchase Market

Based on data from StreetEasy, the median sales price for homes that sold in 2023 was $764K, down about 2% from a record high of $782K in 2022 but back up to $785K in early 2024.

Slightly more than 10,000 housing units in Manhattan are single-family, detached homes — approximately 1 percent of the borough's entire housing stock, according to a Social Explorer review of 2016-20 American Community Survey. Less surprisingly, it's trailed by Kings County, N.Y.

Depending on your lifestyle, your living expenses in New York will vary. But overall, the cost of living in New York for a single person is $4,130. Whereas the average cost of living in NYC per month for a family of 4 is around $8,925 (renting a 2-bedroom apartment).

If by house, you mean a private dwelling not shared by other people, yes, there are quite a few houses. While many have been carved up into multi-unit dwellings, there are still a number of private residences, all multi-million dollar homes, and nearly all row houses.

A single adult living in New York City would need to make $138,570 a year in order to live comfortably, according to the study. That equates to an hourly wage of $66.62. To cover the cost of just necessities as a single person in New York City, you would need to make an estimated $70,000, according to SmartAsset.

The median overall price for a Manhattan home stood at $1.175 million, a rise of 2% annually and a fall of 2% compared to the previous quarter, skewed by a fall in transactions under $1 million, according to data from Corcoran.

The 28%/36% Rule

According to this rule, a maximum of 28% of one's gross monthly income should be spent on housing expenses and no more than 36% on total debt service (including housing and other debt such as car loans and credit cards). Lenders often use this rule to assess whether to extend credit to borrowers.

But in reality, modern American life has become much more compact. Over the last few decades, the typical lot size in the U.S. has decreased significantly—from 18,760 square feet in 1978 to 13,896 in 2020. While lot sizes are getting smaller overall, there are still large discrepancies in lot sizes from state to state.

A family of 4 needs to make at least $318k/year to live comfortably in NYC, study finds.

Rich people in Manhattan often live in affluent neighborhoods such as the Upper East Side, Tribeca, SoHo, Hudson Yards, and the West Village.

Why are people moving out of Manhattan? ›

And those those big two elements of safety and money were the deciding factors.” About half of New Yorkers plan to join the exodus from the city within five years, according to a poll from Citizens Budget Commission, with only 30% saying they're happy in the city and blaming a significant decline since the pandemic.

The average home price in the United States was $495,100 in the second quarter of 2023, according to the Census Bureau and Department of Housing and Urban Development. By comparison, the median U.S. home price in June 2023 was $426,056, according to Redfin.

For New York families of four looking to abide by the 50/30/20 rule, SmartAsset.com says that the annual income between the two laboring adults should be about $278,970.

The average price for townhouses for sale NYC in Downtown Manhattan was $9.2M or $2,000 per square foot where the average width was 21.4 feet and the average size was 4,674 square feet. The average price for a townhouse on the East Side was $10.1M or $1,758 per square foot and the average width was 20.1 feet.