Housing affordability · NY · 2024
Putnam Housing Affordability
47th most affordable of 62 New York counties · price-to-income ratio
Putnam at a glance
Putnam shows a counter-intuitive pattern: home prices relative to income (3.7×) are below the New York state median, yet a higher-than-average share of renters face cost burden — typically reflecting a concentration of lower-income households in the local rental market.
At Putnam's median household income of $126,257, a renter paying the median monthly rent of $1,775 would commit 17% of gross annual income to housing — below the 30% threshold widely used to define cost burden.
For owner-occupied households, 24% spend more than 30% of their income on housing costs — the standard definition of owner cost burden.
Putnam FAQ
What is the median home price in Putnam?
The median home value in Putnam, NY is $471,300 (2024 ACS 5-year estimate). This is 11% above the New York state median of $423,800.
Is Putnam an affordable place to buy a home?
Putnam is rated Moderate on the USInsights affordability scale. The price-to-income ratio is 3.7×, meaning the median home costs roughly 3.7 years of median household income ($126,257). 3.5×–5.0× indicates moderate pressure.
What is the average rent in Putnam?
The median gross rent in Putnam is $1,775 per month (2024 ACS 5-year estimate). 55% of renters spend more than 30% of their income on housing. The New York state median is $1,621.
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