Murray Hill, New York, NY—10016
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Murray Hill, New York, NY
Home Price Trends — Murray Hill, New York, NY
As of Oct '25, the median home price in Murray Hill, New York, NY is $943,000, with a year-over-year change of 1.5%. This indicates that home prices in Murray Hill, New York, NY are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $943,000 | 1.5% |
| Single Family | $1,265,000 | -8.1% |
| Condos | $925,000 | 1.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $832,000 | -1.1% |
2 Bed | $1,454,000 | -3.0% |
3 Bed | $2,213,000 | 0.3% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Murray Hill, New York, NY
As of July '25, Rentcast reports the average rent in Murray Hill, New York, NY is $5,520, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Murray Hill, New York, NY is studios: $3,870, 1-bedrooms: $5,190, 2-bedrooms: $6,830, 3-bedrooms: $7,540, 4-bedrooms: $8,270. The most common rental property sizes in Murray Hill, New York, NY are 1-bedroom and studio, accounting for 45.7% and 27.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $5,300 | $5,520 |
| Studio Rent | $3,700 | $3,870 |
| 1 Bed Rent | $5,220 | $5,190 |
| 2 Bed Rent | $6,880 | $6,830 |
| 3 Bed Rent | $7,660 | $7,540 |
| 4 Bed Rent | $8,400 | $8,270 |
% of Rental Stock
Property Listings — Murray Hill, New York, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Murray Hill, New York, NY is 66. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,060,000 | -6.0% |
Listing Count | 542 | 5.0% |
| Listings as % of Homes | 1.1% | 5.0% |
Days on Market | 66 | 0.0% |
Demographics — Murray Hill, New York, NY
As of the latest ACS Survey released in 2023, Murray Hill, New York, NY has a population of 54,300, which has increased by 6.3% over the past 5 years. Murray Hill, New York, NY is a less popular place for families, as children make up 8.7% of the population. The area has a highly educated workforce, with 81.7% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 27.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 54,300 | 6.3% |
% Under 18 | 8.7% | 19.2% |
% Seniors | 14.3% | -1.4% |
% WFH | 27.3% | 362.7% |
% w/ College Degree | 81.7% | 1.5% |
As of the latest ACS Survey released in 2023, Murray Hill, New York, NY is a predominantly white area, with 58.9% of the population identifying as white. The white population has shrunk by 11.2% in the last 5 years. The second most common race or ethnicity in Murray Hill, New York, NY is asian, making up 19.9% of the population. Foreign-born residents account for 25.8% of the population in Murray Hill, New York, NY, and this percentage has decreased by 4.4% 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 | 58.9% | -11.2% |
% Black | 4.7% | 23.7% |
% Hispanic | 11.3% | 63.8% |
% Asian | 19.9% | 3.1% |
% Foreign Born | 25.8% | -4.4% |
Mortgage and Risk — Murray Hill, New York, NY
According to HUD data as of 2023, there were 274 mortgage originations in Murray Hill, New York, NY, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 1.0% above 90% LTV (normal). This implies small mortgage risk in Murray Hill, New York, NY. Investor activity is low, as 4.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 274 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 4.0% |
% Second Loans | 14.0% |
% Cash Out Refinance | 3.0% |
Loan Activity
Rentals and Section 8 — Murray Hill, New York, NY
As of 2024, the percent of homes in Murray Hill, New York, NY under the Section 8 program is 4.8%. 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 Murray Hill, 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 | 1,330 |
Total Units Section 8 | 1,063 |
% Rentals under Section 8 | 4.8% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$1,450 | $5,220 | $3,770 |
| 2 Bedroom | -$2,710 | $6,880 | $4,170 |
| 3 Bedroom | -$2,460 | $7,660 | $5,200 |
| 4 Bedroom | -$2,790 | $8,400 | $5,610 |
Affordability — Murray Hill, New York, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.2 |
| Median Home Price | $943,000 |
| Median Household Income | $153,000 |