The Big Apple is the biggest city in the state — but it's not the fastest-growing. In fact, New York City lost 78,000 residents in 2023. Young adults, families, and retirees are leaving the metropolis and looking for someplace new. And while some move south to hubs like Texas and Florida, many more settle down in a handful of flourishing New York towns and cities.
Where? That's what we're covering today. We looked at Census data and current population estimates to find the hottest real estate markets in 2024. Some of the cities on this list may even surprise you. Let's dive in.
5 Growing Cities to Watch in New York in 2024
New York State has plenty of small towns slowly adding new residents each year. Those housing markets aren't all that active, so we narrowed our focus. Here are the fastest-growing cities with more than 5,000 residents in the Empire State:
1. Oneonta
Oneonta used to be a relatively well-kept secret in New York state, but not anymore. Today, 18,000 people call it home, 38% more than in 2020. It's easy to see why. Nestled on the foothills of the Catskill Mountains, Oneonta is surrounded by picturesque hills, which draws in families with children and retirees. Plus, since it's a college town, thousands of students move in every year, too. This blend of incoming residents means that real estate agents work with both homeowners and renters.
2. Palm Tree and Kiryas Joel
Drive 35 miles southwest of Poughkeepsie, and you'll reach Palm Tree and Kiryas Joel. Officially, they are two separate villages, but they feel like one because they are adjacent. In 2024 alone, their population grew by 20%. Here, most real estate agents deal with high-density multi-family housing, which is pretty uncommon for towns on this list.
3. Ballston
Ballston is a town in Saratoga County, about 30 miles from Albany. It has that quaint, rural charm typical of small-town America. But don't let that fool you: the population has grown 13% since 2020. 13,392 residents put down their roots here as of 2024. The good schools and low crime levels attract a mix of young families and older couples downsizing. As a real estate agent, they're the types of clients you'll most likely work with.
4. Stillwater
Just 15 miles away is Stillwater. This blossoming town sits on the banks of the Hudson River, surrounded by natural beauty. That alone is a big reason why Stillwater is drawing in new residents. From 2020 to 2024, the population increased 12%. Here, the median listing price is $416,000, slightly more than the average for Saratoga County.
5. Farmington
The last spot on our list goes to Farmington. Home to 15,340 people, this Ontario County town is growing. This year alone, the population ticked up 4%. Why? Location, location, location. Despite being enveloped by rolling hills and pastures, Farmington is a quick 20-mile car drive from Rochester. This blend of nature and big-city commuting is a major plus for homeowners who want a slower pace of life and more outdoor space.
Prepare Your New York Real Estate Business for Success in 2024
Knowing what cities are growing in New York in 2024 isn't just a cool party trick. It's valuable information for real estate professionals! If you've been dreaming of a career that allows you to help home buyers and sellers enjoy the next chapter in their lives, head to these cities. That's where you'll find a hot, lucrative market. But first, you need a license. Enroll in Aceable's New York real estate license course online and get a jump start on your new career today!
Updated 5/13/24