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New York County, NY

RANK #897 / 996  ·  POP 1,645,867  ·  NY

PROJECTED GROWTH: -1.6%

New York County is losing people and economic momentum. This metro faces significant structural headwinds.

[01] Why New York County?

Manhattan, coextensive with New York County, is an island borough renowned for its iconic skyline, featuring landmarks like the Empire State Building and One World Trade Center. Bounded by the Hudson River to the west and the East River to the east, it is the most densely populated borough in New York City. Commuting within Manhattan and to surrounding boroughs is primarily done via the extensive subway system, buses, and ferries, with regional rail lines connecting to nearby suburbs. While often perceived as a concrete jungle, Central Park offers a significant green oasis, and waterfront parks like Hudson River Park provide outdoor recreation opportunities.

Life in Manhattan is characterized by its fast pace and diverse communities, attracting individuals seeking career opportunities and cultural experiences. The economy is a global hub for finance, media, and entertainment, with a significant presence of Fortune 500 companies and a growing tech sector. Tourism also remains a major economic driver. The New York City Department of Education oversees public schools, and numerous prestigious universities are located within the borough. Recent economic developments show growth in sectors like healthcare and social assistance, though challenges like housing affordability persist.

[02] Market Snapshot

Housing Ratio
2.2x

Undervalued relative to economy

GDP Growth
+2.9%

Above national median

Home Prices
+0.9%

Below national median

Climate & Terrain
-0.3

Below-average climate & terrain

Price/Rent
21x

Prices detached from rents

Housing looks undervalued at 2.2x — home prices are low relative to local economic output. The typical U.S. county is 4–6x.

[03] Signal Profile

[04] Home Value Growth vs National

New York County U.S. National

The Numbers

DEMOGRAPHICS
Population
1,645,867
-1.39% YoY
Median Household Income
$99,880
Median Home Value
$1,104,000
+0.87% 12mo
Median Rent
$2,024
Average Annual Pay
$165,086
+5.0% YoY
Employment
2,466,798
+1.8% YoY
Income-to-Home-Value
0.0905
Less affordable than average
Migration Inflow
2.65%
of pop. from another state

Market Activity

REAL ESTATE
Median Sale Price
$1,360,000
Days on Market
89
Slower market
Months of Supply
7.6
Buyer's market
Sale-to-List Ratio
99.2%
Near asking price
Sold Above List
1.7%
Listings w/ Price Drops
20.8%
Building Permits (2024)
4,467
Single-Family Permits
0

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Capital Investment

$61,100M
TOTAL
PROJECT AMOUNT STATUS
Anthropic/Fluidstack New York Data Centers (AI Infrastructure)
Anthropic, Fluidstack
$50,000M Planned
New Advanced Nuclear Power Plant (Upstate New York)
New York Power Authority (NYPA)
$10,000M Proposed
Digital Realty Data Center Portfolio (JFK10, JFK12, JFK13)
Digital Realty
$500M Operating
Equinix Data Center Portfolio (NY1, NY9, etc.)
Equinix
$300M Operating
Sabey Data Center (375 Pearl Street)
Sabey Data Centers
$200M Operating
QTS Data Center (395 Hudson St.)
QTS
$100M Operating

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[06] Score Breakdown

GDP Growth +2.9% 54 percentile
Population Growth -1.4% 1 percentile
Income Growth +6.3% 10 percentile
Vacancy Rate 2.3% 5 percentile
Home Price Change +0.9% 43 percentile
Rent Growth +6.0% 87 percentile
Price/Rent 21x 7 percentile

Bars show percentile rank among all 996 counties.

[07] Frequently Asked Questions

Is New York County, NY a good place to move to?

New York County has a Boom Town Index score of 10/100, ranking #897 among 996 U.S. counties. With job growth at +1.8% and a median household income of $99,880, it faces some economic headwinds compared to faster-growing counties.

Is New York County affordable?

The median home value in New York County is $1,104,000 with median rent at $2,024/month. The income-to-home-value ratio is 0.0905, which is less affordable than the national average.

Is New York County growing or shrinking?

Population growth: -1.4% year-over-year. Job growth: +1.8%. Home values changed +0.9% in the past 12 months.

Are people moving to New York County?

Yes — 2.65% of New York County's population moved from another state, which is above the national average and indicates strong in-migration.

[08] Similar Metros

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