Garment District, New York, NY—10018
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Garment District, New York, NY
As of Oct '25, the median home price in Garment District, New York, NY is $1,355,000, with a year-over-year change of -2.9%. This indicates that home prices in Garment District, New York, NY are decreasing. According to Zillow, the 1-year price projection is -0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,355,000 | -2.9% |
| Single Family | N/A | N/A |
| Condos | $1,274,000 | -1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $1,053,000 | -2.9% |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Garment District, New York, NY
As of July '25, Rentcast reports the average rent in Garment District, New York, NY is $5,650, with a year-over-year rent change of 2.0%. Per bedroom, the median rent as of July '25 in Garment District, New York, NY is studios: $4,360, 1-bedrooms: $5,460, 2-bedrooms: $7,640, 3-bedrooms: $5,140. The most common rental property sizes in Garment District, New York, NY are 1-bedroom and studio, accounting for 46.4% and 26.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $5,400 | $5,650 |
| Studio Rent | $4,200 | $4,360 |
| 1 Bed Rent | $5,420 | $5,460 |
| 2 Bed Rent | $7,900 | $7,640 |
| 3 Bed Rent | $6,100 | $5,140 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Garment District, New York, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Garment District, New York, NY is 72. This is a decrease of -25.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,770,000 | 4.0% |
Listing Count | 64 | 74.0% |
| Listings as % of Homes | 0.6% | 74.0% |
Days on Market | 72 | -25.0% |
Demographics — Garment District, New York, NY
As of the latest ACS Survey released in 2023, Garment District, New York, NY has a population of 8,760, which has decreased by -9.5% over the past 5 years. Garment District, New York, NY is a less popular place for families, as children make up 7.9% of the population. The area has a highly educated workforce, with 75.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 24.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,760 | -9.5% |
% Under 18 | 7.9% | 25.4% |
% Seniors | 9.8% | 34.2% |
% WFH | 24.7% | 375.0% |
% w/ College Degree | 75.2% | 9.0% |
As of the latest ACS Survey released in 2023, Garment District, New York, NY is a predominantly white area, with 42.0% of the population identifying as white. The white population has shrunk by 11.8% in the last 5 years. The second most common race or ethnicity in Garment District, New York, NY is asian, making up 27.4% of the population. Foreign-born residents account for 43.2% of the population in Garment District, New York, NY, and this percentage has decreased by 4.0% 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 | 42.0% | -11.8% |
% Black | 10.0% | 108.3% |
% Hispanic | 14.7% | -3.3% |
% Asian | 27.4% | -8.4% |
% Foreign Born | 43.2% | -4.0% |
Mortgage and Risk — Garment District, New York, NY
According to HUD data as of 2023, there were 19 mortgage originations in Garment District, New York, NY, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Garment District, New York, NY. Investor activity is low, as 0.0% of loans were by investors. 0.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 19 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 0.0% |
% Second Loans | 11.0% |
% Cash Out Refinance | 0.0% |
Loan Activity
Rentals and Section 8 — Garment District, New York, NY
Garment District, New York, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 103 |
Total Units Section 8 | 103 |
% Rentals under Section 8 | 1.6% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$1,650 | $5,420 | $3,770 |
| 2 Bedroom | -$3,730 | $7,900 | $4,170 |
| 3 Bedroom | -$900 | $6,100 | $5,200 |
| 4 Bedroom | N/A | N/A | $5,610 |
Affordability — Garment District, New York, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 11 |
| Median Home Price | $1,355,000 |
| Median Household Income | $133,000 |