Lower East Side, New York, NY—10002
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lower East Side, New York, NY
As of Oct '25, the median home price in Lower East Side, New York, NY is $986,000, with a year-over-year change of 1.0%. This indicates that home prices in Lower East Side, New York, NY are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $986,000 | 1.0% |
| Single Family | $2,562,000 | 7.1% |
| Condos | $958,000 | 0.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $730,000 | 0.6% |
2 Bed | $1,021,000 | -0.3% |
3 Bed | $1,572,000 | -0.3% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lower East Side, New York, NY
As of July '25, Rentcast reports the average rent in Lower East Side, New York, NY is $5,860, with a year-over-year rent change of 5.4%. Per bedroom, the median rent as of July '25 in Lower East Side, New York, NY is studios: $4,290, 1-bedrooms: $5,330, 2-bedrooms: $6,680, 3-bedrooms: $6,800, 4-bedrooms: $8,040. The most common rental property sizes in Lower East Side, New York, NY are 2-bedroom and 1-bedroom, accounting for 37.8% and 35.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $5,540 | $5,860 |
| Studio Rent | $4,350 | $4,290 |
| 1 Bed Rent | $5,500 | $5,330 |
| 2 Bed Rent | $7,000 | $6,680 |
| 3 Bed Rent | $7,000 | $6,800 |
| 4 Bed Rent | $8,800 | $8,040 |
% of Rental Stock
Property Listings — Lower East Side, New York, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Lower East Side, New York, NY is 60. This is a decrease of -15.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,500,000 | 5.0% |
Listing Count | 156 | -10.0% |
| Listings as % of Homes | 0.4% | -10.0% |
Days on Market | 60 | -15.0% |
Demographics — Lower East Side, New York, NY
As of the latest ACS Survey released in 2023, Lower East Side, New York, NY has a population of 75,500, which has remained stable by 0.7% over the past 5 years. Lower East Side, New York, NY is a less popular place for families, as children make up 13.4% of the population. The area has a moderately educated workforce, with 39.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 75,500 | 0.7% |
% Under 18 | 13.4% | 0.8% |
% Seniors | 22.9% | 8.5% |
% WFH | 15.6% | 271.4% |
% w/ College Degree | 39.0% | 14.7% |
As of the latest ACS Survey released in 2023, Lower East Side, New York, NY is a predominantly asian area, with 36.7% of the population identifying as asian. The asian population has shrunk by 11.6% in the last 5 years. The second most common race or ethnicity in Lower East Side, New York, NY is white, making up 26.3% of the population. Foreign-born residents account for 38.3% of the population in Lower East Side, New York, NY, and this percentage has decreased by 8.4% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 26.3% | 19.5% |
% Black | 9.4% | 11.9% |
% Hispanic | 24.7% | -9.2% |
% Asian | 36.7% | -11.6% |
% Foreign Born | 38.3% | -8.4% |
Mortgage and Risk — Lower East Side, New York, NY
According to HUD data as of 2023, there were 158 mortgage originations in Lower East Side, New York, NY, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 0.0% above 90% LTV (normal). This implies small mortgage risk in Lower East Side, New York, NY. Investor activity is low, as 2.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 158 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 2.0% |
% Second Loans | 13.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Lower East Side, New York, NY
As of 2024, the percent of homes in Lower East Side, New York, NY under the Section 8 program is 10.8%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Lower East Side, New York, NY, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 11,036 |
Total Units Section 8 | 3,166 |
% Rentals under Section 8 | 10.8% |
% Occupied Section 8 | 93.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$3,290 | $5,500 | $2,210 |
| 2 Bedroom | -$4,520 | $7,000 | $2,480 |
| 3 Bedroom | -$3,900 | $7,000 | $3,100 |
| 4 Bedroom | -$5,470 | $8,800 | $3,330 |
Affordability — Lower East Side, New York, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 22.9 |
| Median Home Price | $986,000 |
| Median Household Income | $46,500 |