Chelsea, New York, NY—10011
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Chelsea, New York, NY
As of Oct '25, the median home price in Chelsea, New York, NY is $1,574,000, with a year-over-year change of 0.9%. This indicates that home prices in Chelsea, New York, NY are flat. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,574,000 | 0.9% |
| Single Family | $4,222,000 | 2.1% |
| Condos | $1,513,000 | 0.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $1,061,000 | -1.2% |
2 Bed | $2,187,000 | -0.1% |
3 Bed | $4,036,000 | 3.1% |
4 Bed | $6,884,000 | 4.6% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Chelsea, New York, NY
As of July '25, Rentcast reports the average rent in Chelsea, New York, NY is $5,750, with a year-over-year rent change of -4.8%. Per bedroom, the median rent as of July '25 in Chelsea, New York, NY is studios: $4,240, 1-bedrooms: $5,880, 2-bedrooms: $7,600, 3-bedrooms: $7,850, 4-bedrooms: $7,760. The most common rental property sizes in Chelsea, New York, NY are 1-bedroom and studio, accounting for 45.3% and 26.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $5,550 | $5,750 |
| Studio Rent | $4,100 | $4,240 |
| 1 Bed Rent | $5,800 | $5,880 |
| 2 Bed Rent | $7,700 | $7,600 |
| 3 Bed Rent | $7,950 | $7,850 |
| 4 Bed Rent | $9,130 | $7,760 |
% of Rental Stock
Property Listings — Chelsea, New York, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Chelsea, New York, NY is 63. This is a increase of 4.0% 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 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $2,310,000 | -11.0% |
Listing Count | 500 | -8.0% |
| Listings as % of Homes | 1.2% | -8.0% |
Days on Market | 63 | 4.0% |
Demographics — Chelsea, New York, NY
As of the latest ACS Survey released in 2023, Chelsea, New York, NY has a population of 49,300, which has decreased by -2.2% over the past 5 years. Chelsea, New York, NY is a less popular place for families, as children make up 9.1% of the population. The area has a highly educated workforce, with 79.2% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 49,300 | -2.2% |
% Under 18 | 9.1% | -2.2% |
% Seniors | 19.1% | 17.9% |
% WFH | 26.5% | 278.6% |
% w/ College Degree | 79.2% | 0.5% |
As of the latest ACS Survey released in 2023, Chelsea, New York, NY is a predominantly white area, with 67.8% of the population identifying as white. The white population has shrunk by 5.2% in the last 5 years. The second most common race or ethnicity in Chelsea, New York, NY is hispanic, making up 13.0% of the population. Foreign-born residents account for 19.8% of the population in Chelsea, New York, NY, and this percentage has decreased by 16.8% 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 | 67.8% | -5.2% |
% Black | 4.0% | -28.6% |
% Hispanic | 13.0% | 15.0% |
% Asian | 10.4% | 13.0% |
% Foreign Born | 19.8% | -16.8% |
Mortgage and Risk — Chelsea, New York, NY
According to HUD data as of 2023, there were 373 mortgage originations in Chelsea, New York, NY, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 0.0% above 90% LTV (normal). This implies small mortgage risk in Chelsea, New York, NY. Investor activity is low, as 2.0% of loans were by investors. 2.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 373 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 2.0% |
% Second Loans | 12.0% |
% Cash Out Refinance | 2.0% |
Loan Activity
Rentals and Section 8 — Chelsea, New York, NY
As of 2024, the percent of homes in Chelsea, New York, NY under the Section 8 program is 1.6%. 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 Chelsea, 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 | 1,242 |
Total Units Section 8 | 298 |
% Rentals under Section 8 | 1.6% |
% Occupied Section 8 | 90.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$2,090 | $5,800 | $3,710 |
| 2 Bedroom | -$3,590 | $7,700 | $4,110 |
| 3 Bedroom | -$2,830 | $7,950 | $5,120 |
| 4 Bedroom | -$3,600 | $9,130 | $5,530 |
Affordability — Chelsea, New York, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 13.1 |
| Median Home Price | $1,574,000 |
| Median Household Income | $147,000 |