Photo: Daniel Case · CC BY-SA 3.0Even on the area’s higher pay, Peekskill costs more to live in than 96% of U.S. towns
It ranks #654 of 757 in New York for affordability. Up 4.5% in a year, close to the New York typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the New York-Newark-Jersey City, NY-NJ metro area ($99K). How TownRatings grades cost of living
The grade measures what housing costs against what households in the area earn. Peekskill’s area earns well above the typical U.S. town ($99K against $74K), but homes, rent and taxes here run higher still. Owners keep up better than renters: 35% of owners pay 30% or more of income for housing (typical U.S. town: 20%), against 59% of renters.
In dollars
- $516Ktypical home, 2% below the New York typical homeZillow, September 2026
- $2,960a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
- 113prices across the New York metro, where the U.S. is 100 (housing 149)BEA Regional Price Parities, 2024
In paychecks the grade
- 4.0 yrsof area income buys the typical home; the typical U.S. town: 3.3$99K, New York-area income
- 25%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 59%of renters pay 30%+ of income for housing; across New York: 52%Census 2020–24
- 35%of owners do; the typical U.S. town: 20%Census 2020–24
The short version on homes in Peekskill
Homes haven’t kept up with new residents
Between the 2010 and 2020 censuses, Peekskill gained 1,848 residents while 313 new homes were permitted: about 5.9 new residents per new home, against 2.2 across New York. New homes ↓
Most new homes are apartments and condos
Of the 712 homes permitted in Peekskill’s past 10 years, 97% were in buildings with two or more homes, not single-family houses. New homes ↓
A median income doesn’t stretch to the towns next door
At Peekskill’s median income, the calculator’s budget of about $291K covers neither the typical home here ($516K) nor in any of the three neighboring towns. The least expensive is Cortlandt at $580K. Can I afford it? ↓
Written from the data on this page. Home values are the Zillow Home Value Index, through September 2026; sales and supply are Redfin’s for September 2026; permits are Census figures through 2025; incomes, rents paid, taxes and ownership come from the Census American Community Survey.
What’s behind Peekskill’s grade
Measured against what households in the area earn, Peekskill is more affordable than 4% of U.S. towns, #654 of 757 in New York. The share of households paying 30%+ for housing pulls the grade down most; home prices hold it up.
Values have lagged New York: the typical Peekskill home is up 24.2% in five years, against 29.7% statewide (Zillow).
Up 24.2% in five years
Slower than New York (29.7%).
Show as a table
| January | Peekskill | New York |
|---|---|---|
| 2017 | $282,000 | $296,000 |
| 2018 | $293,000 | $314,000 |
| 2019 | $316,000 | $335,000 |
| 2020 | $339,000 | $350,000 |
| 2021 | $376,000 | $376,000 |
| 2022 | $420,000 | $414,000 |
| 2023 | $430,000 | $434,000 |
| 2024 | $470,000 | $455,000 |
| 2025 | $499,000 | $486,000 |
| 2026 | $502,000 | $506,000 |
| September 2026 | $516,000 | $525,000 |
A typical Peekskill home worth $282K in October 2016 is worth about $516K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
Too few sales to read the market
Only 13 homes sold in September 2026, the latest month in Redfin’s figures: too few to describe the market or quote a median sale price.
A year’s rent takes 25% of area income
The calculator starts from the area income the grade uses. Switch to Peekskill’s own median, or type yours.
That’s $181K short of a typical Peekskill home.
A two-bedroom rents for about $2,960 a month here, $600 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Peekskill’s typical property tax (1.98% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $2,960
Renters already here pay a median of $2,036, so moving in tends to cost more than staying put.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (New York, NY HUD Metro FMR Area): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
No new homes permitted in 2025
No permits for new homes were issued in Peekskill in 2025. The last year with any was 2023 (2 new homes).
Between the 2010 and 2020 censuses, Peekskill gained 1,848 residents while 313 new homes were permitted: about 5.9 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. Across New York: 2.2 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 3 | 3 | 0 | $1.1 million |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 2 | 2 | 0 | $684,000 |
| 2022 | 56 | 1 | 55 | $3.4 million |
| 2021 | 37 | 2 | 35 | $3.8 million |
| 2020 | 320 | 8 | 312 | $37.6 million |
| 2019 | 5 | 5 | 0 | $1.3 million |
| 2018 | 94 | 1 | 93 | $16.7 million |
| 2017 | 128 | 0 | 128 | $21.9 million |
| 2016 | 70 | 0 | 70 | $15.7 million |
| 2015 | 7 | 7 | 0 | $1.5 million |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 5 | 3 | 2 | $1 million |
| 2011 | 4 | 4 | 0 | $834,000 |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 1 | 1 | 0 | $203,000 |
| 2008 | 97 | 11 | 86 | $15.4 million |
| 2007 | 5 | 5 | 0 | $1.1 million |
| 2006 | 10 | 10 | 0 | $1.9 million |
| 2005 | 177 | 147 | 30 | $22.6 million |
| 2004 | 175 | 155 | 20 | $23.4 million |
| 2003 | 157 | 147 | 10 | $21.8 million |
| 2002 | 185 | 185 | 0 | $27.3 million |
| 2001 | 97 | 29 | 68 | $5.2 million |
| 2000 | 117 | 30 | 87 | $6 million |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Property tax runs above the New York norm
The median bill is $7,842 (New York: $6,582), 1.98% of a home’s value a year, against 1.55% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
The rest of a budget near Peekskill
Only figures published free for the whole country, each labeled with the area it covers: the New York-Newark-Jersey City, NY-NJ metro area, or New York. Groceries follow the goods price level; nobody publishes them town by town.
| Cost | Here | Compared with | Area | Source |
|---|---|---|---|---|
| Prices overall U.S. = 100 | 113 | NY 108 | metro | BEA, 2024 |
| Goods (groceries, clothing, cars…) U.S. = 100 | 110 | NY 107 | metro | BEA, 2024 |
| Utilities U.S. = 100 | 127 | NY 134 | metro | BEA, 2024 |
| Other services U.S. = 100 | 106 | NY 104 | metro | BEA, 2024 |
| Electricity cents per kWh, homes | 29.9¢ | U.S. 18.3¢ | state | EIA, July 2026 |
Price levels: U.S. Bureau of Economic Analysis, Regional Price Parities 2024 (metro area and state). Electricity: U.S. Energy Information Administration, Electric Power Monthly, table 5.6.A.
Peekskill vs. its neighbors
Of the 3 towns here with a Zillow value, Peekskill has the lowest. Cortlandt has no Zillow value, so it is in the table only.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Peekskill | D− | $516K | $396K | 1.98% | $2,960 |
| Cortlandt | D | — | $580K | 1.73%+ | $3,060 |
| Buchanan | D | $613K | $526K | 1.90%+ | $2,700 |
| Stony Point | D | $660K | $526K | 1.90%+ | $2,840 |
“—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures. “+”: the Census reports the tax bill only as $10,000 or more, so the rate is at least that.
Questions about the cost of living in Peekskill
Is Peekskill expensive to live in?
Measured against what households in the area earn, Peekskill costs more than 96% of U.S. towns: a D− for cost of living, #654 of 757 in New York. The typical home costs 4.0 years of the median household income of the New York-Newark-Jersey City, NY-NJ metro area ($99K).
How much does a house cost in Peekskill?
About $516K, Zillow’s typical value for September 2026, up 4.5% in a year. The New York typical home is $525K.
What salary do you need to live in Peekskill?
To buy the typical home with 20% down at 6.3%, about $153,000 a year, keeping the payment (about $3,560 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $118,000.
How much is rent in Peekskill?
HUD puts a two-bedroom at about $2,960 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $2,036 (Census 2020–24).
What are property taxes in Peekskill?
The median bill is $7,842 a year, 1.98% of the median home value (New York: $6,582, 1.55%), from the Census 2020–24.
Are home prices in Peekskill going up?
Yes: up 4.5% in the past year and 24.2% in five years, against 29.7% across New York (Zillow).
Neighbors talk housing
What Peekskill buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.