New York is the twenty-seventh largest state by area, with a population of 19,453,561 (U.S. Census Bureau, July 1, 2019). Throughout history, there have been important milestones that helped shape New York. Once a Dutch trading colony, New Amsterdam, was later renamed New York when it became a British colony. After the Revolutionary War, New York became a U.S. state when the U.S. Constitution was ratified in 1788. In 1886, Statue of Liberty was erected in New York Harbor to commemorate the alliance of the United States and France during the Revolutionary War.
Today, New York's economy has a GDP of $1.7 trillion (Bureau of Economic Analysis, July 1, 2018), which is driven by these top industries: financial services, health care, professional services, retail trade, foodservice and manufacturing. Many of the leading Fortune 500 companies have their headquarters in New York, including JPMorgan Chase, Verizon Communications, Citigroup, and MetLife, to name a few.
The most recognized cities in New York are New York, Albany, and Rochester.
New York is the capital of New York and has a population of 8,560,072. New York is home to the Statue of Liberty National Monument, Central Park, Time Square, and Empire State Building. Over the last ten years, New York's housing market has appreciated by 38.81%. When compared to the rest of the nation, New York's housing prices are one of the most expensive, with the median home price of $538,700 and a median rent of $1,340.
Albany resides in eastern New York and has a population of 98,498. Albany is home to the New York State Capitol, New York State Museum, and Albany Institute of History & Art. Over the last ten years, Albany's housing market has appreciated by 0.31% annually. When compared to the rest of the country, Albany's housing prices are slightly less, with the median home price of $171,900 and a median rent of $924.
Rochester is located in western New York near Lake Ontario and has a population of 209,463. Rochester is home to The Strong Museum, Seneca Park Zoo, and Highland Park. Over the last ten years, Rochester's housing market has appreciated by 24.53%. When compared to the rest of the nation, Rochester's housing prices are more affordable, with the median home price of $79,400 and a median rent of $807.