How Long New Yorkers Hold Onto Their Homes (And What It Means for 2026 Real Estate)

A new report from PropertyShark offers a detailed look at how long New Yorkers stay in their homes, and the results show a noteworthy divide. While Manhattan and Brooklyn tend to see faster turnover, homeowners in Queens and the Bronx hold onto their properties for significantly longer.

For buyers and sellers alike, understanding these patterns sheds light on inventory trends, pricing pressure, and the motivations behind why New Yorkers move (or don’t). Here’s what the data reveals and how these trends may shape the market heading into 2026.

1. NYC’s Homeowners Are a Small but Important Group

The city’s homeownership rate sits close to 30%, far below the national average. This means:

• Only a minority of New Yorkers own homes

• Tenure trends reflect a selective but influential slice of households

• Even small shifts in turnover can affect pricing and availability

Because NYC has far fewer homeowners than most major U.S. cities, changes in how long people stay put can meaningfully impact inventory and competition.

2. The Average NYC Homeowner Stays Nearly 11 Years

PropertyShark found that the average tenure for NYC homes sold in 2025 is 10.9 years, up from pre-pandemic norms. Borough averages vary, but the citywide trend is clear—homeowners are staying put longer.

This mirrors national research indicating that many owners remain in place because:

• Inventory is tight

• Prices have risen

• And most importantly, many locked in historically low pandemic-era mortgage rates they’re reluctant to give up for today’s higher costs

Earlier studies estimated NYC tenure around 7–8 years between 2019–2023, making today’s ~11-year figure a meaningful shift.

3. Why Queens and the Bronx Have the Longest Homeowner Tenure

Queens and the Bronx lead the city in longevity, with borough-wide averages around 13 years and several neighborhoods reaching 15–20 years. Here’s what drives that stability:

• Family-oriented, long-term ownership. Many homes in these boroughs are purchased with the intention of staying for decades, often passing from one generation to the next.

• Less pressure to “cash out”. Appreciation has been steady, but not as explosive as Manhattan or Brooklyn — reducing urgency to sell.

• Replacing a home is expensive. Even with equity, buying elsewhere — especially in pricier boroughs — is challenging, so staying put is often the more affordable option.

• Rental alternatives offer little relief. High rents make selling unattractive unless a clear next step exists.

These factors reinforce longer tenure and create neighborhoods defined by stability, community ties, and affordability considerations.

4. Why Manhattan and Brooklyn Experience Faster Turnover

In contrast, Manhattan and Brooklyn tend to see quicker movement. The reasons:

• Faster price appreciation → more equity and more mobility

• High market liquidity → easier to list, sell, and move

• More frequent “upgrade” cycles → buyers transition to larger spaces, different neighborhoods, or suburban markets

• Higher investor and luxury activity → shorter holding periods among pied-à-terre owners and investors

Together, these drivers make Manhattan and Brooklyn more fluid and transaction-heavy than the outer boroughs.

5. Market Conditions That Influence Tenure Across NYC

Beyond borough differences, several citywide factors have pushed homeowners to stay longer:

• Many locked in ultra-low pandemic-era rates (2–3%)

• Moving into a comparable or larger home is significantly more expensive

• Inventory remains tight across price points

• Renovation often feels more practical than relocating

• Closing costs and taxes discourage frequent moves

These conditions help explain why tenure has risen sharply and why turnover varies so strongly by borough.

6. What This Means for Buyers and Sellers Heading Into 2026

For Buyers:

• Longer tenure means fewer listings coming to market

• Tight inventory may continue into 2026

• Turnover is higher in Manhattan/Brooklyn than in Queens/Bronx

• Flexibility and patience remain key in lower-turnover areas

For Sellers:

• Longer tenure means less competition in many neighborhoods

• Homes in low-turnover markets can attract strong demand

• Limited supply helps support firm pricing

• Motivated buyers remain active, especially where inventory is scarce

Closing Thoughts

NYC’s homeowner tenure tells a clear story about how the market behaves, and where opportunities may emerge. Whether you’re planning to sell after many years or exploring neighborhoods with higher turnover, understanding these patterns can help shape a smarter strategy.

If you’d like insights into your specific neighborhood’s turnover trends or want to understand what buyers are looking for today, I’m always here to help.

Serj Markarian