New York real estate vs S&P 500 since 2016
39% × 291%
Updated July 1, 2026 · Redfin · daily closing prices (not exportable)
Since 2016, New York real estate returned 39% and S&P 500 returned 291%, in U.S. dollars. S&P 500 won the period — but with different risk: the worst drop was 46% (New York real estate) vs 25% (S&P 500).
Base 100 since 2016
Why compare New York home prices (US$/m²) and S&P 500
People weigh a New York apartment against an index fund because both are the default homes for serious money, and the question is whether owning property in the country's most expensive housing market beats simply buying the market. The honest comparison is narrow: this tracks New York home prices per square foot from Redfin sold listings, pure price appreciation, against the S&P 500 price index. It leaves out rent collected, leverage, property taxes and maintenance on one side, and dividends on the other. Over long stretches a broad stock index has tended to compound faster than dense urban housing, which moves in slower local cycles tied to rates and migration. This is not investment advice.
Returns by window
| Window | New York home prices (US$/m²) | S&P 500 |
|---|---|---|
| 1 year | -2% | 15% |
| 5 years | 1% | 66% |
| 10 years | 23% | 237% |
| since 2016 | 39% | 291% |
The price of return: risk
| Asset | Annual volatility | Worst drop |
|---|---|---|
| New York real estate | 28% | -46% |
| S&P 500 | 15% | -25% |
$10,000 in each, since 2016
| Asset | Value today |
|---|---|
| New York real estate | $13,914 |
| S&P 500 | $39,068 |
Frequently asked questions
New York real estate or S&P 500: which returned more?
Since 2016, S&P 500 returned more in U.S. dollars. Over shorter windows the lead can change — see the per-window table on the page.
Does a higher return mean a better investment?
Not on its own — risk matters. The page shows the volatility and the largest drop of each; similar returns can hide very different rides.
Are these figures in real terms?
No — these are nominal returns in U.S. dollars. To see real (inflation-adjusted) gains, compare each one against U.S. inflation (CPI).
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Descriptive, educational content computed from official public data. Not investment advice. Past performance does not guarantee future results.