Assumable Mortgages in New York

Assumable Homes in New York

New York State has approximately 89,000 FHA and VA assumable properties across 4,906 census tracts — the most census tracts of any state in our dataset, reflecting New York's dense and diverse geography. With a median note rate of 3.9% and a median age of 6.2 years, New York's assumable homes inventory largely dates to the 2019–2022 rate environment.

New York City's outer boroughs — Queens, Brooklyn, the Bronx, and Staten Island — carry significant FHA assumable property inventory. FHA origination rates in these communities were high during the low-rate era, and many of those obligations are now assumable. Long Island — Nassau and Suffolk counties — also has meaningful assumable homes density.

Upstate New York tells a different story: Buffalo, Rochester, Syracuse, Albany, and Utica all have strong FHA assumable property markets driven by affordable housing stock and high first-time buyer activity. Fort Drum near Watertown generates VA assumable homes in the North Country. West Point and Stewart Air National Guard Base contribute VA assumable property to the Hudson Valley.

In New York City, where median home prices can exceed $800,000, the payment savings from assuming at 3.9% versus originating new are among the highest in the country. Our New York data list covers all 62 counties at the census-tract level, including detailed coverage of all five NYC boroughs.