Zillow predicts New York-Northern New Jersey metro market to slightly increase year-over-year

  • NYC metro's median home value reached a new peak in December and should exceed $625,000 this year.
  • Rents recently rose year-over-year by more than 9 percent in seven NYC metro neighborhoods.
  • Manhattan and Brooklyn will see the highest volume of rental unit deliveries in the next three years.

The New York-Northern New Jersey metro, which comprises more than 18.7 million people, will experience minimal year-over-year gains in home values and rents, according to a recent Zillow rent forecast.