Gramercy Park, New York, NY—10010
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Gramercy Park, New York, NY
As of Oct '25, the median home price in Gramercy Park, New York, NY is $1,271,000, with a year-over-year change of 0.6%. This indicates that home prices in Gramercy Park, New York, NY are flat. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,271,000 | 0.6% |
| Single Family | N/A | N/A |
| Condos | $1,288,000 | 0.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $932,000 | -1.2% |
2 Bed | $1,981,000 | 0.8% |
3 Bed | $3,717,000 | 4.5% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Gramercy Park, New York, NY
As of July '25, Rentcast reports the average rent in Gramercy Park, New York, NY is $5,560, with a year-over-year rent change of -2.6%. Per bedroom, the median rent as of July '25 in Gramercy Park, New York, NY is studios: $4,290, 1-bedrooms: $5,370, 2-bedrooms: $7,010, 3-bedrooms: $7,720, 4-bedrooms: $5,020. The most common rental property sizes in Gramercy Park, New York, NY are 1-bedroom and 2-bedroom, accounting for 36.1% and 30.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $5,360 | $5,560 |
| Studio Rent | $3,950 | $4,290 |
| 1 Bed Rent | $5,240 | $5,370 |
| 2 Bed Rent | $6,780 | $7,010 |
| 3 Bed Rent | $7,670 | $7,720 |
| 4 Bed Rent | $1,300 | $5,020 |
% of Rental Stock
Property Listings — Gramercy Park, New York, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Gramercy Park, New York, NY is 66. This is a increase of 17.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,440,000 | -1.0% |
Listing Count | 264 | 11.0% |
| Listings as % of Homes | 1.2% | 11.0% |
Days on Market | 66 | 17.0% |
Demographics — Gramercy Park, New York, NY
As of the latest ACS Survey released in 2023, Gramercy Park, New York, NY has a population of 31,900, which has decreased by -5.4% over the past 5 years. Gramercy Park, New York, NY is a less popular place for families, as children make up 12.7% of the population. The area has a highly educated workforce, with 80.5% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,900 | -5.4% |
% Under 18 | 12.7% | 9.5% |
% Seniors | 17.0% | 21.4% |
% WFH | 28.5% | 319.1% |
% w/ College Degree | 80.5% | 2.7% |
As of the latest ACS Survey released in 2023, Gramercy Park, New York, NY is a predominantly white area, with 62.8% of the population identifying as white. The white population has shrunk by 1.7% in the last 5 years. The second most common race or ethnicity in Gramercy Park, New York, NY is asian, making up 14.2% of the population. Foreign-born residents account for 21.0% of the population in Gramercy Park, New York, NY, and this percentage has increased by 2.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 62.8% | -1.7% |
% Black | 9.1% | 71.7% |
% Hispanic | 8.5% | -22.7% |
% Asian | 14.2% | -18.4% |
% Foreign Born | 21.0% | 2.9% |
Mortgage and Risk — Gramercy Park, New York, NY
According to HUD data as of 2023, there were 138 mortgage originations in Gramercy Park, New York, NY, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 2.0% above 90% LTV (normal). This implies small mortgage risk in Gramercy Park, New York, NY. Investor activity is low, as 1.0% 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 | 138 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 1.0% |
% Second Loans | 13.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Gramercy Park, New York, NY
As of 2024, the percent of homes in Gramercy Park, New York, NY under the Section 8 program is 6.2%. 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. 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Gramercy Park, New York, NY, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 771 |
Total Units Section 8 | 756 |
% Rentals under Section 8 | 6.2% |
% Occupied Section 8 | 88.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$2,190 | $5,240 | $3,050 |
| 2 Bedroom | -$3,400 | $6,780 | $3,380 |
| 3 Bedroom | -$3,460 | $7,670 | $4,210 |
| 4 Bedroom | $3,240 | $1,300 | $4,540 |
Affordability — Gramercy Park, New York, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.9 |
| Median Home Price | $1,271,000 |
| Median Household Income | $156,000 |