Home values in Upstate NY projected to surge in coming year, new data says

Home values in Upstate New York metro areas are expected to rise at some of the fastest rates in the nation in the year ahead, according to new projections from Zillow.

Zillow’s latest set of forecasts projects that home values in Upstate New York metro areas will all rise by at least 2.4% in the coming year. The latest numbers are based on home values as of September and project what they’ll be by September next year.

All of the forecasted increases in Upstate metros rank them in the top 70 nationwide among the 200 largest U.S. metro areas by size.

The biggest increase in New York between September 2025 and 2026 is projected to be in Utica, where home values are expected to rise 4.1%, the 10th-largest jump in the U.S. Syracuse is second in New York and 14th nationwide, with a projected home value increase of 3.9%.

Buffalo, Binghamton and Rochester are all in the top 50. Albany is 66th.

You can see details of projected home value increases in New York metro areas in the table below. If you can’t see the table, click here to open it in a new window.

The figures come from the Zillow Home Value Index, which reflects the typical value for homes in a given region in the 35th to 65th percentile range. The numbers are seasonally adjusted.

Zillow also regularly publishes projections for the month, quarter and year ahead for the index in locations nationwide.

The Upstate New York data is not a surprise. Home values and sale prices in Syracuse and the rest of the region have been rising rapidly in recent years.

For much of that time, buyers have been facing a historically low number of properties for sale. That has led to intense competition and bidding wars.

Factors like cash offers and waived inspections have become increasingly common, Realtors have said.

Local officials have been saying for several years that the area needs more new housing of all types to meet both current demand and projected increases in the years ahead.

You can see details of projected home values for all of the 200 largest U.S. metro areas in the table below. If you can’t see the table, click here to open it in a new window.