Posted on: January 20, 2026 12:00 PM

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NYC affordability alert for home purchases

The 2026 NYC affordability alert has the 30 year mortgage interest now 6.06% as per Freddie Mac which is the lowest in months giving advantage for new homeowners in Queens and Brooklyn with plenty of inventories to buy from. Guess what! After knowing that, homeowners looking to sell have set the standard price for a single home of any kind at $850,000 and $1.7 million for a 2 family home which is affordable based on the monthly payment mortgage. $850,000 mortgage at 6.06% is affordable at $5,130 compared to rental of $3,000 per month. The recent interest at 6.2% has now saved $200 to $300 per month savings of $72,000 to $108,000 over 30 years. Seen in the picture of a home in St Albans hit the market for $900,000 and the demand is booming with City of Yes renting the basement for easy $1500 and attic for $1000 to pay only $2,500 as a couple. The husband pays $1,250 and the wife pays $1,250 plus utilities, insurance, food, etc. Another option is convert the garage into housing for another $1,000 and rent another room inside for $1,000. If the tenants don’t pay the rent, oh well. NYC is a great affordable city. The time is now to buy your dream home before it reaches a cool $1 million after summer. According to the NYC Comptroller’s office, this is the latest data on rental market released this week. Avg for market rate units, as of Dec 31 (w/ increase over past year) Manhattan: $5,499 (+5.9%) Brooklyn: $4,299 (+11.1%) NW Queens: $3,832 (+3.9%) Again so affordable in NYC. Buy or rent, your choice.