Washington Heights, New York, NY—10032
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Washington Heights, New York, NY
As of Oct '25, the median home price in Washington Heights, New York, NY is $553,000, with a year-over-year change of 6.2%. This indicates that home prices in Washington Heights, New York, NY are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $553,000 | 6.2% |
| Single Family | $850,000 | 6.4% |
| Condos | $521,000 | 6.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $456,000 | 0.2% |
2 Bed | $539,000 | 6.5% |
3 Bed | $676,000 | 3.4% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Washington Heights, New York, NY
As of July '25, Rentcast reports the average rent in Washington Heights, New York, NY is $3,430, with a year-over-year rent change of 8.9%. Per bedroom, the median rent as of July '25 in Washington Heights, New York, NY is studios: $1,850, 1-bedrooms: $2,830, 2-bedrooms: $3,330, 3-bedrooms: $4,040, 4-bedrooms: $3,000. The most common rental property sizes in Washington Heights, New York, NY are 2-bedroom and 1-bedroom, accounting for 33.2% and 31.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,050 | $3,430 |
| Studio Rent | $1,850 | $1,850 |
| 1 Bed Rent | $2,800 | $2,830 |
| 2 Bed Rent | $3,150 | $3,330 |
| 3 Bed Rent | $3,850 | $4,040 |
| 4 Bed Rent | $3,000 | $3,000 |
% of Rental Stock
Property Listings — Washington Heights, New York, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Washington Heights, New York, NY is 71. This is a decrease of -19.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $550,000 | -20.0% |
Listing Count | 49 | -12.0% |
| Listings as % of Homes | 0.2% | -12.0% |
Days on Market | 71 | -19.0% |
Demographics — Washington Heights, New York, NY
As of the latest ACS Survey released in 2023, Washington Heights, New York, NY has a population of 55,600, which has decreased by -13.5% over the past 5 years. Washington Heights, New York, NY is a less popular place for families, as children make up 13.2% of the population. The area has a moderately educated workforce, with 39.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 55,600 | -13.5% |
% Under 18 | 13.2% | -9.6% |
% Seniors | 18.4% | 42.6% |
% WFH | 13.8% | 160.4% |
% w/ College Degree | 39.8% | 28.0% |
As of the latest ACS Survey released in 2023, Washington Heights, New York, NY is a predominantly hispanic area, with 62.4% of the population identifying as hispanic. The hispanic population has shrunk by 5.9% in the last 5 years. The second most common race or ethnicity in Washington Heights, New York, NY is white, making up 16.6% of the population. Foreign-born residents account for 44.3% of the population in Washington Heights, New York, NY, and this percentage has decreased by 5.3% 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 | 16.6% | 17.7% |
% Black | 16.2% | -16.1% |
% Hispanic | 62.4% | -5.9% |
% Asian | 5.0% | 6.4% |
% Foreign Born | 44.3% | -5.3% |
Mortgage and Risk — Washington Heights, New York, NY
According to HUD data as of 2023, there were 47 mortgage originations in Washington Heights, New York, NY, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 2.0% above 90% LTV (normal). This implies small mortgage risk in Washington Heights, New York, NY. Investor activity is low, as 2.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 47 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Washington Heights, New York, NY
As of 2024, the percent of homes in Washington Heights, New York, NY under the Section 8 program is 15.3%. This is considered high, suggesting that the neighborhood is heavily 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 Washington Heights, 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 | 2,971 |
Total Units Section 8 | 2,948 |
% Rentals under Section 8 | 15.3% |
% Occupied Section 8 | 87.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$590 | $2,800 | $2,210 |
| 2 Bedroom | -$670 | $3,150 | $2,480 |
| 3 Bedroom | -$750 | $3,850 | $3,100 |
| 4 Bedroom | $330 | $3,000 | $3,330 |
Affordability — Washington Heights, New York, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 9.5 |
| Median Home Price | $553,000 |
| Median Household Income | $56,600 |