Median Home Price
$1,182,635.83
Median Rent
$4,367.24/mo
Price-to-Rent Ratio
22.6
Property Tax Rate
1.72%
Price Change (1Y)BETTER
+1.4%
Price Change (5Y)BETTER
+7.2%
Break-Even YearsTIE
N/A
10-Year Wealth Difference
$967,229
Median Home PriceBETTER
$573,024.51
Median RentBETTER
$2,420.88/mo
Price-to-Rent RatioBETTER
19.7
Property Tax RateBETTER
0.56%
Price Change (1Y)
-3.5%
Price Change (5Y)
-17.7%
Break-Even YearsTIE
N/A
10-Year Wealth DifferenceBETTER
$287,000
Key Differences
Home Prices
New York's median home price of $1,182,635.83 is higher than Washington's $573,024.51 by 106%.
Monthly Rent
Renting in New York costs $4,367.24/mo compared to $2,420.88/mo in Washington—a difference of $1,946.36/mo.
Buy vs Rent Verdict
Both cities currently favor renting.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.