State rental market analysis · NY
New York rental markets
89 tracked cities over 20,000 population, 43 ranked and summarized by their median Overall. Every number traces to Census, Zillow and BLS. All states ranked →
Browse every New York ZIP Code area → · the full server-rendered index for this state.
Part of the Middle Atlantic Census division (Northeast region).
The honest read
New York ranks #45 of 51 states for rental investing, with a median Overall of 36/100 across its ranked cities, below the national median. 43 ranked cities roll up into this grade.
A state grade is the median of its ranked cities, a screen for where to look, not underwriting. Open any city below for its full shown-math breakdown, or run a specific deal through the cap rate and cash-flow calculators.
Where it ranks, factor by factor
Every value is the median across the 43 ranked cities in this state. The national rank compares all 51 states on that one factor; the engine already flips inverted factors (affordability, low unemployment) so a better rank always means a better market. Each factor sits in one of the model’s three categories (Cash Flow, Growth, or Stability); this is a representative summary, and the full thirteen-factor breakdown is on each city’s page. Full methodology.
| Factor | Category | State value | National rank |
|---|---|---|---|
| Gross rent yield | Cash Flow | 6.0% | not measured |
| Rent growth | Growth | 4.4% | not measured |
| Home value growth | Growth | 3.8% | not measured |
| Population growth | Growth | -0.2% | not measured |
| Job growth | Growth | 0.3% | not measured |
| Price-to-income | Cash Flow | 9.6× | not measured |
| Unemployment | Stability | 4.7% | not measured |
| Rental demand | Stability | 64% renters · 371.5% vacancy | not measured |
| Income growth | Growth | 5.8% | not measured |
Every city in New York, ranked
Led by Peekskill at 55/100. Click any column to re-sort; every city links to its full shown-math breakdown.
| NY rank | City | Grade | Cash Flow | Growth | Stability | Typical home value | Gross yield | National rank |
|---|---|---|---|---|---|---|---|---|
| 1 | Peekskill | 55 | C | B | C | $526,914 | 7.3% | #527 |
| 2 med | Ossining | 53 | D | B | B | $444,200 | 5.7% | #606 |
| 3 med | Poughkeepsie | 51 | C | B | C | $259,200 | 6.3% | #683 |
| 4 | Buffalo | 51 | C | C | C | $249,040 | 6.9% | #707 |
| 5 | Garden City | 46 | D | C | B | $1,401,920 | 5.2% | #997 |
| 6 | Long Beach | 45 | D | C | B | $810,461 | 5.4% | #1050 |
| 7 | Middletown | 43 | D | C | D | $417,645 | 6.6% | #1138 |
| 8 med | Jamestown | 43 | A | D | D | $125,764 | 11.5% | #1166 |
| 9 | Niagara Falls | 42 | B | D | D | $175,991 | 8.3% | #1205 |
| 10 | Rome | 42 | B | D | D | $215,448 | 8.4% | #1211 |
| 11 | Lindenhurst | 41 | D | C | C | $623,592 | 5.3% | #1230 |
| 12 | Port Chester | 41 | F | B | B | $750,272 | 5.1% | #1244 |
| 13 | Watertown | 40 | A | D | D | $206,810 | 9.2% | #1280 |
| 14 | Utica | 39 | B | D | D | $212,600 | 8.1% | #1307 |
| 15 | New York | 38 | D | D | C | $832,934 | 6.0% | #1377 |
| 16 med | Kiryas Joel | 37 | F | B | B | $685,800 | 2.8% | #1388 |
| 17 | White Plains | 37 | F | B | C | $808,808 | 4.8% | #1401 |
| 18 | Syracuse | 37 | C | D | D | $226,448 | 8.1% | #1417 |
| 19 med | Harrison | 37 | F | B | B | $1,001,900 | 3.1% | #1425 |
| 20 med | Kingston | 36 | D | D | D | $277,900 | 5.7% | #1435 |
| 21 | Mount Vernon | 36 | F | C | C | $581,799 | 5.6% | #1459 |
| 22 med | Spring Valley | 36 | F | B | C | $888,313 | 5.7% | #1460 |
| 23 | Lynbrook | 36 | F | C | C | $766,303 | 4.6% | #1461 |
| 24 | Rochester | 36 | D | D | D | $249,152 | 7.2% | #1477 |
| 25 | Albany | 36 | D | C | C | $335,126 | 5.9% | #1478 |
| 26 | Mineola | 35 | F | C | C | $846,368 | 4.9% | #1482 |
| 27 med | Freeport | 35 | F | C | C | $679,470 | 5.0% | #1510 |
| 28 | Auburn | 33 | C | F | C | $229,007 | 7.2% | #1567 |
| 29 | Saratoga Springs | 33 | F | C | D | $664,058 | 4.5% | #1572 |
| 30 | Glen Cove | 33 | F | D | C | $837,709 | 5.3% | #1581 |
| 31 | Valley Stream | 31 | F | C | C | $776,097 | 4.6% | #1626 |
| 32 | Lockport | 30 | D | D | C | $274,351 | 4.5% | #1648 |
| 33 med | Elmira | 30 | B | D | F | $134,027 | 10.0% | #1654 |
| 34 | Yonkers | 30 | F | B | C | $710,085 | 4.7% | #1660 |
| 35 med | Hempstead | 28 | F | C | D | $650,203 | 6.4% | #1689 |
| 36 med | Ithaca | 28 | F | C | C | $330,100 | 5.2% | #1690 |
| 37 | Schenectady | 28 | F | C | C | $336,283 | 5.4% | #1696 |
| 38 | Binghamton | 28 | D | D | F | $193,367 | 7.8% | #1702 |
| 39 | North Tonawanda | 27 | D | D | D | $289,699 | 5.0% | #1708 |
| 40 | Troy | 26 | F | D | D | $303,151 | 5.9% | #1723 |
| 41 | New Rochelle | 25 | F | B | B | $964,313 | 3.7% | #1750 |
| 42 | Rockville Centre | 25 | F | C | D | $990,916 | 4.2% | #1756 |
| 43 | Newburgh | 23 | F | D | D | $405,470 | 6.0% | #1772 |
Data as of: Zillow ZHVI/ZORI through the latest monthly release · Census ACS 5-yr 2019–2023 · Census PEP July 2024 · BLS LAUS county 2023 annual. Generated 2026-09-01. Methodology & limitations · underwrite any specific deal with the free calculators.
Limited-data cities in New York
These 46 cities lack enough measured factors to rank, so they are excluded from the state grade; their pages show exactly what could be measured.
ZIP markets in New York
1,826 Census ZIP Codes (ZCTAs) in New York · 1,121 data-eligible for subscores. These are sub-city government areas ranked separately from the New York city table. The overall Rental Investor ZIP Score leaderboard leads; the two component subscores (affordability, rental-market context) follow as independent percentiles. ZIP ranks are shown within the ZIP universe only, never mixed with, and not directly comparable to, city ranks. Vintage: the Key metric column is Census ACS 2020–2024 (5-year), a newer release than the ACS 2019–2023 figures the city table above uses; the same measure can legitimately disagree between the two.
Best overall ZIP Codes in New York
Ranked by the overall Rental Investor ZIP Score. The # is each ZIP Code's canonical NY state rank; the smaller figure is its national rank. Separate from the New York city table and not directly comparable to it.
| NY rank | ZIP Code | Overallgrade · national | Key metric |
|---|---|---|---|
| #1 | 12020Milton | B 63#2,382 nat | 5.9%Survey yield |
| #2 | 10940Middletown | B 62#2,653 nat | 6.0%Survey yield |
| #3 | 12065Clifton Knolls-Mill Creek | B 62#2,693 nat | 4.7%Survey yield |
| #4 | 12550Orange Lake | B 61#3,012 nat | 5.5%Survey yield |
| #5 | 13068Freeville | B 61#3,063 nat | 6.8%Survey yield |
| #6 | 10805New Rochelle | B 61#3,190 nat | 6.7%Survey yield |
| #7 | 13820Oneonta | B 60#3,370 nat | 6.8%Survey yield |
| #8 | 12803South Glens Falls | B 60#3,574 nat | 6.3%Survey yield |
| #9 | 12603Red Oaks Mill | B 59#3,952 nat | 5.6%Survey yield |
| #10 | 12831 | B 58#4,253 nat | 4.6%Survey yield |
| #11 | 10547Lake Mohegan | B 58#4,401 nat | 5.7%Survey yield |
| #12 | 12205Roessleville | B 58#4,538 nat | 6.3%Survey yield |
Top affordability ZIP Codes in New York
State-scoped leaders on the affordability subscore only (national rank shown is within that subscore’s data-eligible universe). Substantially an inverse housing-cost signal: a component of the overall score, not a predicted return.
| # | ZIP Code | Affordability | Key metric |
|---|---|---|---|
| 1 | 12207Albany | 77#1,688 nat | 6.9%Survey yield |
| 2 | 14208Buffalo | 76#1,849 nat | 8.9%Survey yield |
| 3 | 12481Shokan | 71#2,859 nat | 9.1%Survey yield |
| 4 | 14211Buffalo | 71#2,881 nat | 12.1%Survey yield |
| 5 | 13637Calcium | 70#2,919 nat | 9.1%Survey yield |
| 6 | 14207Buffalo | 68#3,343 nat | 8.7%Survey yield |
| 7 | 14215Buffalo | 67#3,757 nat | 11.2%Survey yield |
| 8 | 14210Buffalo | 65#4,068 nat | 9.3%Survey yield |
| 9 | 13469Stittville | 64#4,460 nat | 6.0%Survey yield |
| 10 | 14204Buffalo | 64#4,485 nat | 6.7%Survey yield |
| 11 | 12910Altona | 63#4,652 nat | 9.1%Survey yield |
| 12 | 14212Buffalo | 62#4,910 nat | 11.5%Survey yield |
Deepest rental-market ZIP Codes in New York
State-scoped leaders on the rental-market-context subscore only (national rank shown is within that subscore’s data-eligible universe). Rental depth/tightness: a separate component, never combined here with affordability.
| # | ZIP Code | Rental market | Key metric |
|---|---|---|---|
| 1 | 10453New York | 85#7 nat | 2.5%Survey yield |
| 2 | 12202Albany | 85#11 nat | 7.7%Survey yield |
| 3 | 12307Schenectady | 85#12 nat | 12.7%Survey yield |
| 4 | 10455New York | 85#19 nat | 4.3%Survey yield |
| 5 | 13616Calcium | 85#19 nat | 10.8%Survey yield |
| 6 | 10454New York | 84#26 nat | 1.6%Survey yield |
| 7 | 10044New York | 84#29 nat | 3.9%Survey yield |
| 8 | 11206New York | 84#37 nat | 2.3%Survey yield |
| 9 | 11368New York | 83#47 nat | 3.2%Survey yield |
| 10 | 12204Menands | 83#47 nat | 6.6%Survey yield |
| 11 | 11691New York | 83#56 nat | 2.5%Survey yield |
| 12 | 10457New York | 83#58 nat | 3.4%Survey yield |