Home Value Trail

Metro areas › New York-Newark-Jersey City, NY-NJ

Metropolitan area

New York-Newark-Jersey City, NY-NJ

New York, New Jersey · 22 counties · 20,112,448 residents (2025 est.)

FHFA annual index 1975–2025Developmental CBSA indexPermits through August 2026
FHFA house price index for New York-Newark-Jersey City, NY-NJ, annual from 1975 to 2025, with the national index rebased to the same start and NBER recessions shadedRecession 1973–75Recession 1980Recession 1981–82Recession 1990–91Recession 2001Recession 2007–09Recession 202005001,0001,5002,00019801990200020102020United States2025: 1,613
New York-Newark-Jersey City (100 = first year)United States, rebased to the same startNBER recession

FHFA notes: The FHFA HPI is a broad measure of the movement of single-family house prices. The FHFA HPI is a weighted, repeat-sales index, meaning that it measures average price changes in repeat sales or refinancings on the same properties. FHFA describes its annual CBSA indexes as developmental and subject to revision. The index does not give a dollar value for any home.

The New York-Newark-Jersey City, NY-NJ metropolitan area covers 22 counties. Its FHFA house price index, starting in 1975, stood at 1613 in 2025, +1512.9% above the base of 100.

Over the ten years to 2025 the annual index rose +82.9% (+6.2% a year), close to New York at +85.6% and close to the national +85.0%.

From a 2006 peak the index fell −21.2% to 2012, regaining the peak in 2020.

Across its counties, 57,734 housing units were authorised in the 12 months to August 2026, 2.9 per 1,000 residents, +23.2% on the previous 12 months.

+6.1%1 year, 2024–2025US +2.8%
+53.6%5 yearsUS +47.0%
+82.9%10 years+6.2% a year annualised
+200.9%since 2000US +158.3%
57,734units permitted, 12 months2.9 per 1,000 residents

Same span, three levels

Change in the FHFA indexNew York-Newark-Jersey CityNew YorkUnited States
1 year (2024–2025)+6.1%+6.0%+2.8%
5 years (2020–2025)+53.6%+51.9%+47.0%
10 years (2015–2025)+82.9%+85.6%+85.0%
20 years (2005–2025)+67.1%+78.4%+79.1%
Since 2000+200.9%+189.3%+158.3%
Since 1975+1512.9%+1175.0%+960.7%
10-year annualised+6.2%+6.4%+6.3%
20-year annualised+2.6%+2.9%+3.0%

FHFA annual all-transactions indexes over identical years. The state column is New York, the first state in the area's name.

Decade by decade

DecadeChangeUnited States
1980s (1980–1990)+171.3%+68.2%
1990s (1990–2000)+28.6%+33.9%
2000s (2000–2010)+63.2%+29.7%
2010s (2010–2020)+20.0%+35.5%
2020s so far (2020–2025)+53.6%+47.0%

FHFA reports each index with a value of 100 in its base period, the first year the area has enough transactions (1975 here). A decade's change is the index at the end of the decade divided by the index at the start, so it does not depend on the base year; the United States column covers the same years. Decades before 1975 are not shown.

Peak-to-low declines

PeakLowDeclinePeak regained
20062012−21.2%2020
19881991−9.7%1998

Building permits across the area

Housing units authorised in the area's 22 counties (OMB July 2023 delineations), summed from county files.

Housing units authorised in the New York-Newark-Jersey City, NY-NJ area by month, latest 12 months05,00010,000Sep 2025: 3,742 units (1,036 single-family, 2,706 in multi-unit buildings)Sep 2025Oct 2025: 4,474 units (1,097 single-family, 3,377 in multi-unit buildings)Oct 2025Nov 2025: 3,639 units (774 single-family, 2,865 in multi-unit buildings)Nov 2025Dec 2025: 7,315 units (976 single-family, 6,339 in multi-unit buildings)Dec 2025Jan 2026: 6,012 units (1,044 single-family, 4,968 in multi-unit buildings)Jan 2026Feb 2026: 5,564 units (835 single-family, 4,729 in multi-unit buildings)Feb 2026Mar 2026: 4,596 units (1,001 single-family, 3,595 in multi-unit buildings)Mar 2026Apr 2026: 3,286 units (838 single-family, 2,448 in multi-unit buildings)Apr 2026May 2026: 4,590 units (752 single-family, 3,838 in multi-unit buildings)May 2026Jun 2026: 5,399 units (693 single-family, 4,706 in multi-unit buildings)Jun 2026Jul 2026: 4,939 units (704 single-family, 4,235 in multi-unit buildings)Jul 2026Aug 2026: 4,178 units (784 single-family, 3,394 in multi-unit buildings)Aug 2026

Housing units authorised in the New York-Newark-Jersey City, NY-NJ area by month, latest 12 monthssingle-family2+ unit buildings

Housing units authorised in the New York-Newark-Jersey City, NY-NJ area by month, latest 60 months05,00010,000Sep 2021: 3,411 units (1,074 single-family, 2,337 in multi-unit buildings)Sep 2021Oct 2021: 4,250 units (1,103 single-family, 3,147 in multi-unit buildings)Nov 2021: 6,049 units (1,007 single-family, 5,042 in multi-unit buildings)Dec 2021: 5,978 units (1,206 single-family, 4,772 in multi-unit buildings)Jan 2022: 4,657 units (982 single-family, 3,675 in multi-unit buildings)Feb 2022: 4,013 units (1,066 single-family, 2,947 in multi-unit buildings)Mar 2022: 8,444 units (1,120 single-family, 7,324 in multi-unit buildings)Apr 2022: 5,354 units (992 single-family, 4,362 in multi-unit buildings)May 2022: 3,589 units (1,076 single-family, 2,513 in multi-unit buildings)Jun 2022: 6,857 units (1,026 single-family, 5,831 in multi-unit buildings)Jul 2022: 5,249 units (1,232 single-family, 4,017 in multi-unit buildings)Aug 2022: 4,806 units (1,057 single-family, 3,749 in multi-unit buildings)Sep 2022: 3,414 units (1,065 single-family, 2,349 in multi-unit buildings)Sep 2022Oct 2022: 2,702 units (904 single-family, 1,798 in multi-unit buildings)Nov 2022: 3,523 units (784 single-family, 2,739 in multi-unit buildings)Dec 2022: 4,420 units (999 single-family, 3,421 in multi-unit buildings)Jan 2023: 2,579 units (941 single-family, 1,638 in multi-unit buildings)Feb 2023: 2,748 units (860 single-family, 1,888 in multi-unit buildings)Mar 2023: 5,623 units (1,149 single-family, 4,474 in multi-unit buildings)Apr 2023: 2,499 units (796 single-family, 1,703 in multi-unit buildings)May 2023: 4,586 units (1,065 single-family, 3,521 in multi-unit buildings)Jun 2023: 3,028 units (1,105 single-family, 1,923 in multi-unit buildings)Jul 2023: 3,006 units (811 single-family, 2,195 in multi-unit buildings)Aug 2023: 4,356 units (861 single-family, 3,495 in multi-unit buildings)Sep 2023: 1,945 units (823 single-family, 1,122 in multi-unit buildings)Sep 2023Oct 2023: 3,096 units (998 single-family, 2,098 in multi-unit buildings)Nov 2023: 2,090 units (857 single-family, 1,233 in multi-unit buildings)Dec 2023: 2,858 units (733 single-family, 2,125 in multi-unit buildings)Jan 2024: 4,992 units (1,018 single-family, 3,974 in multi-unit buildings)Feb 2024: 7,829 units (995 single-family, 6,834 in multi-unit buildings)Mar 2024: 5,355 units (866 single-family, 4,489 in multi-unit buildings)Apr 2024: 5,211 units (1,166 single-family, 4,045 in multi-unit buildings)May 2024: 3,330 units (1,078 single-family, 2,252 in multi-unit buildings)Jun 2024: 4,467 units (1,135 single-family, 3,332 in multi-unit buildings)Jul 2024: 5,031 units (1,074 single-family, 3,957 in multi-unit buildings)Aug 2024: 5,023 units (1,240 single-family, 3,783 in multi-unit buildings)Sep 2024: 3,666 units (1,091 single-family, 2,575 in multi-unit buildings)Sep 2024Oct 2024: 4,168 units (1,366 single-family, 2,802 in multi-unit buildings)Nov 2024: 4,216 units (861 single-family, 3,355 in multi-unit buildings)Dec 2024: 6,341 units (900 single-family, 5,441 in multi-unit buildings)Jan 2025: 4,200 units (908 single-family, 3,292 in multi-unit buildings)Feb 2025: 2,107 units (970 single-family, 1,137 in multi-unit buildings)Mar 2025: 3,541 units (1,200 single-family, 2,341 in multi-unit buildings)Apr 2025: 3,605 units (1,010 single-family, 2,595 in multi-unit buildings)May 2025: 3,660 units (983 single-family, 2,677 in multi-unit buildings)Jun 2025: 3,563 units (1,010 single-family, 2,553 in multi-unit buildings)Jul 2025: 3,965 units (837 single-family, 3,128 in multi-unit buildings)Aug 2025: 3,819 units (956 single-family, 2,863 in multi-unit buildings)Sep 2025: 3,742 units (1,036 single-family, 2,706 in multi-unit buildings)Sep 2025Oct 2025: 4,474 units (1,097 single-family, 3,377 in multi-unit buildings)Nov 2025: 3,639 units (774 single-family, 2,865 in multi-unit buildings)Dec 2025: 7,315 units (976 single-family, 6,339 in multi-unit buildings)Jan 2026: 6,012 units (1,044 single-family, 4,968 in multi-unit buildings)Feb 2026: 5,564 units (835 single-family, 4,729 in multi-unit buildings)Mar 2026: 4,596 units (1,001 single-family, 3,595 in multi-unit buildings)Apr 2026: 3,286 units (838 single-family, 2,448 in multi-unit buildings)May 2026: 4,590 units (752 single-family, 3,838 in multi-unit buildings)Jun 2026: 5,399 units (693 single-family, 4,706 in multi-unit buildings)Jul 2026: 4,939 units (704 single-family, 4,235 in multi-unit buildings)Aug 2026: 4,178 units (784 single-family, 3,394 in multi-unit buildings)

Housing units authorised in the New York-Newark-Jersey City, NY-NJ area by month, latest 60 monthssingle-family2+ unit buildings

Housing units authorised in the New York-Newark-Jersey City, NY-NJ area by year, 1995–2025050,000100,0001995: 18,942 units (18,942 single-family, 0 in multi-unit buildings)19951996: 20,909 units (20,909 single-family, 0 in multi-unit buildings)1997: 23,062 units (23,062 single-family, 0 in multi-unit buildings)1998: 25,301 units (25,301 single-family, 0 in multi-unit buildings)1999: 43,303 units (25,357 single-family, 17,946 in multi-unit buildings)2000: 48,735 units (24,684 single-family, 24,051 in multi-unit buildings)20002001: 43,502 units (20,201 single-family, 23,301 in multi-unit buildings)2002: 45,793 units (19,886 single-family, 25,907 in multi-unit buildings)2003: 48,924 units (18,695 single-family, 30,229 in multi-unit buildings)2004: 55,821 units (18,823 single-family, 36,998 in multi-unit buildings)2005: 66,174 units (20,391 single-family, 45,783 in multi-unit buildings)20052006: 59,982 units (15,479 single-family, 44,503 in multi-unit buildings)2007: 55,694 units (11,849 single-family, 43,845 in multi-unit buildings)2008: 51,174 units (8,382 single-family, 42,792 in multi-unit buildings)2009: 16,477 units (6,266 single-family, 10,211 in multi-unit buildings)2010: 18,479 units (6,821 single-family, 11,658 in multi-unit buildings)20102011: 21,431 units (5,901 single-family, 15,530 in multi-unit buildings)2012: 26,820 units (6,737 single-family, 20,083 in multi-unit buildings)2013: 39,748 units (10,068 single-family, 29,680 in multi-unit buildings)2014: 46,625 units (11,028 single-family, 35,597 in multi-unit buildings)2015: 84,964 units (10,506 single-family, 74,458 in multi-unit buildings)20152016: 41,723 units (9,601 single-family, 32,122 in multi-unit buildings)2017: 48,982 units (10,393 single-family, 38,589 in multi-unit buildings)2018: 47,990 units (10,251 single-family, 37,739 in multi-unit buildings)2019: 61,055 units (10,959 single-family, 50,096 in multi-unit buildings)2020: 54,716 units (10,874 single-family, 43,842 in multi-unit buildings)20202021: 56,284 units (12,781 single-family, 43,503 in multi-unit buildings)2022: 69,429 units (12,067 single-family, 57,362 in multi-unit buildings)2023: 62,837 units (11,541 single-family, 51,296 in multi-unit buildings)2024: 57,929 units (12,530 single-family, 45,399 in multi-unit buildings)2025: 44,444 units (10,477 single-family, 33,967 in multi-unit buildings)2025

Housing units authorised in the New York-Newark-Jersey City, NY-NJ area by year, 1995–2025single-family2+ unit buildings

Permits, 12 months to August 2026This areaNew YorkUnited States
Housing units authorised57,73448,5871,418,086
Units per 1,000 residents2.92.44.1
Single-family share18%21%63%
Change on previous 12 months+23.2%+38.8%−0.1%

Counties in the area

Ranked by ten-year change in FHFA's county index to 2025; permits are the latest 12 months.

CountyState1 year10 yearsUnits, 12 monthsPer 1,000
Hudson CountyNJ+9.6%+106.8%4,2195.7
Ocean CountyNJ+5.9%+106.1%2,4123.6
Monmouth CountyNJ+6.2%+94.2%2,6254.0
Suffolk CountyNY+5.4%+92.3%1,1190.7
Sussex CountyNJ+6.6%+92.2%1751.2
Middlesex CountyNJ+6.1%+88.6%1,4541.6
Passaic CountyNJ+6.8%+87.3%6561.2
Essex CountyNJ+5.8%+87.1%4,6675.2
Union CountyNJ+5.5%+83.7%1,8783.1
Rockland CountyNY+4.8%+83.1%5681.6
Nassau CountyNY+7.0%+81.5%9710.7
Bronx CountyNY+6.6%+77.3%9,5786.8
Bergen CountyNJ+6.8%+73.7%3,8183.9
Putnam CountyNY+3.7%+72.7%1071.1
Somerset CountyNJ+6.3%+72.5%7532.1
Richmond CountyNY+7.1%+69.4%7071.4
Morris CountyNJ+5.9%+68.4%1,5362.9
Hunterdon CountyNJ+6.3%+67.5%3302.5
Queens CountyNY+4.6%+67.1%6,7292.9
Westchester CountyNY+5.7%+62.3%1,2991.3
Kings CountyNY+4.6%+56.9%9,0213.4
New York CountyNY−13.4%+43.2%3,1121.9

Questions and answers

How much have home values in the New York-Newark-Jersey City, NY-NJ area risen over 10 years?

The FHFA annual index rose +82.9% between 2015 and 2025, about +6.2% a year. Over 20 years: +67.1%; since 2000: +200.9%.

Which counties in the New York-Newark-Jersey City, NY-NJ area rose most?

By ten-year change to 2025: Hudson County (+106.8%), Ocean County (+106.1%) and Monmouth County (+94.2%).

What happened to New York-Newark-Jersey City, NY-NJ prices after 2007?

The index peaked in 2006, fell −21.2% to 2012 and regained the peak in 2020. Nationally: −21.3% from 2007 to 2012.

How many homes are being built in the New York-Newark-Jersey City, NY-NJ area?

57,734 housing units were authorised across the area's counties in the 12 months to August 2026, 18% of them single-family, 2.9 per 1,000 residents.

Where does this data come from?

FHFA's annual CBSA house price index (developmental, updated March 31, 2026); Census Bureau building permits summed over member counties (OMB July 2023 delineations) through August 2026; vintage 2025 population estimates.

Provenance

Index: Federal Housing Finance Agency, annual house price index for core based statistical areas (all-transactions, developmental), last updated March 31, 2026, values 1975–2025. Permits: Census Bureau Building Permits Survey county files through August 2026, summed over member counties from OMB's July 2023 delineations. Population: Census Bureau vintage 2025 estimates. Public domain. Corrections · FHFA HPI datasets.