Home loans in New York
What people in New York borrow to buy a home, and how that compares with the rest of the country. Taken directly from federal mortgage records.
New York, 2025
- Average home-purchase loan
- $527,000
- +30.2% vs U.S. average
- Home-purchase loans made
- 119,881
- +3.9% vs 2024
- Applications denied
- 12.7%
- -0.7 pts vs U.S.
- New York
- United States
Show as table
| Year | New York | United States |
|---|---|---|
| 2018 | $404,000 | $284,000 |
| 2019 | $421,000 | $295,000 |
| 2020 | $414,000 | $310,000 |
| 2021 | $474,000 | $360,000 |
| 2022 | $524,000 | $395,000 |
| 2023 | $476,000 | $372,000 |
| 2024 | $488,000 | $387,000 |
| 2025 | $527,000 | $405,000 |
- New York
- United States
Show as table
| Year | New York | United States |
|---|---|---|
| 2018 | 12.7% | 12.7% |
| 2019 | 11.8% | 11.8% |
| 2020 | 12.9% | 12.1% |
| 2021 | 10.8% | 11.4% |
| 2022 | 12.2% | 13.2% |
| 2023 | 13.2% | 14.5% |
| 2024 | 13.4% | 13.9% |
| 2025 | 12.7% | 13.4% |
What this means for your life insurance
A mortgage is usually the largest debt a household carries, and it doesn’t go away if someone dies. If your family would have to keep up the payments without your income, the remaining balance is a sensible starting point for how much coverage you need. If a partner could carry it alone, or the house is nearly paid off, you may need less than you think, or none at all.
See where you standAbout this data
- Source. Home Mortgage Disclosure Act (HMDA) records, published by the Consumer Financial Protection Bureau through the FFIEC HMDA Data Browser. Most mortgage lenders in the U.S. are required to report every application they receive.
- What’s counted. Loans to buy a home. Refinances and home-equity loans are left out. All loan types, lien positions and property uses are included.
- Average loan. Total dollars lent divided by the number of loans. Averages run higher than a typical (median) loan because a few large loans pull them up.
- Denial rate. Denied applications as a share of applications that got a decision. Withdrawn and incomplete applications are not included.
- Timing. Each year’s data is released the following spring. The latest year shown is 2025. We check the source for updates every week.
Explore the raw data at the FFIEC HMDA Data Browser
ManyMore is not affiliated with the CFPB or the FFIEC. We summarize public data and don’t change it.