Herkimer County, New York Housing Market
In Herkimer County, New York, the median home value is $147,700, with a median monthly rent of $823. This places Herkimer County at #2271 nationally out of 3134 counties by median home value, and #53 within New York.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $969
- Establishments: 1,165
- BLS QCEW, 2025
Housing Supply
- Single-family: 42
- Multi-family: 12
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 24,893 (avg $64,238)
- Outflow: 24,030 (avg $64,327)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 7 active ZIP codes in Herkimer County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 13350 | 271.3 | +4.02% | 2025 |
| 2 | 13501 | 300.5 | -1.21% | 2025 |
| 3 | 13340 | 279.9 | — | 2025 |
| 4 | 13413 | 303.0 | +0.98% | 2025 |
| 5 | 13456 | 287.4 | +1.86% | 2025 |
| 6 | 13502 | 317.4 | +8.14% | 2025 |
| 7 | 13357 | 249.7 | -1.81% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
💰 Ready to Finance a Purchase?
See the 2026 FHA and conforming loan limits for Herkimer County, plus monthly payment estimates at today's mortgage rates.
View Mortgage Guide for Herkimer County →How Herkimer County Compares
| Metric | Herkimer County | New York Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $147,700 | $281,200 | $227,706 |
| Median Gross Rent | $823 | $1,168 | $968 |
| Owner Occupancy Rate | 76.6% | 69.3% | 73.3% |
| Price/Rent Ratio | 15.0 | 18.4 | 18.7 |
Market Analysis
The median home value in Herkimer County is 47.5% below the New York state average and 35.1% below the U.S. national average. The median rent of $823/month is 29.5% below the state average.
With a price-to-rent ratio of 15.0, the buy-vs-rent decision in Herkimer County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Herkimer County has an owner-occupancy rate of 76.6%, compared to 69.3% in New York and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Livingston County | Missouri | $147,700 | $768 |
| Hamilton County | Texas | $147,700 | $885 |
| Howard County | Iowa | $147,800 | $713 |
| Graves County | Kentucky | $147,800 | $775 |
| Garvin County | Oklahoma | $147,800 | $825 |
Other Counties in New York
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Franklin County | $145,400 | $843 | 72.5% |
| Oswego County | $151,700 | $967 | 73.4% |
| Chemung County | $141,100 | $1,059 | 68.4% |
| Orleans County | $140,800 | $874 | 77.2% |
| Broome County | $154,900 | $941 | 64.5% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).