Carmel, NY—10512
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Carmel, NY
As of Oct '25, the median home price in Carmel, NY is $486,000, with a year-over-year change of 3.0%. This indicates that home prices in Carmel, 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 | $486,000 | 3.0% |
| Single Family | $498,000 | 2.9% |
| Condos | $377,000 | 2.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $282,000 | 2.2% |
2 Bed | $409,000 | 2.0% |
3 Bed | $519,000 | 3.2% |
4 Bed | $687,000 | 3.6% |
| 5 Bed | $770,000 | 4.8% |
% of Housing Stock
Rental Trends — Carmel, NY
As of July '25, Rentcast reports the average rent in Carmel, NY is $3,820, with a year-over-year rent change of 25.2%. Per bedroom, the median rent as of July '25 in Carmel, NY is studios: $2,000, 1-bedrooms: $2,380, 2-bedrooms: $2,820, 3-bedrooms: $4,170, 4-bedrooms: $10,000. The most common rental property sizes in Carmel, NY are 1-bedroom and 2-bedroom, accounting for 41.2% and 36.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,100 | $3,820 |
| Studio Rent | $2,000 | $2,000 |
| 1 Bed Rent | $2,350 | $2,380 |
| 2 Bed Rent | $2,500 | $2,820 |
| 3 Bed Rent | $3,800 | $4,170 |
| 4 Bed Rent | $10,000 | $10,000 |
% of Rental Stock
Property Listings — Carmel, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Carmel, NY is 35. This is a increase of 16.0% 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 7.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $592,000 | 28.0% |
Listing Count | 152 | 176.0% |
| Listings as % of Homes | 0.7% | 176.0% |
Days on Market | 35 | 16.0% |
Demographics — Carmel, NY
As of the latest ACS Survey released in 2023, Carmel, NY has a population of 24,200, which has decreased by -1.9% over the past 5 years. Carmel, NY is a moderately popular place for families, as children make up 19.3% of the population. The area has a moderately educated workforce, with 42.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,200 | -1.9% |
% Under 18 | 19.3% | -0.5% |
% Seniors | 20.5% | 9.0% |
% WFH | 11.0% | 139.1% |
% w/ College Degree | 42.3% | 12.2% |
As of the latest ACS Survey released in 2023, Carmel, NY is a predominantly white area, with 72.9% of the population identifying as white. The white population has shrunk by 6.8% in the last 5 years. The second most common race or ethnicity in Carmel, NY is hispanic, making up 17.8% of the population. Foreign-born residents account for 13.5% of the population in Carmel, NY, and this percentage has increased by 5.5% 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 | 72.9% | -6.8% |
% Black | 4.5% | 25.0% |
% Hispanic | 17.8% | 10.6% |
% Asian | 1.8% | 5.9% |
% Foreign Born | 13.5% | 5.5% |
Mortgage and Risk — Carmel, NY
According to HUD data as of 2023, there were 366 mortgage originations in Carmel, NY, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Carmel, NY. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 366 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 1.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Carmel, NY
As of 2024, the percent of homes in Carmel, NY under the Section 8 program is 16.3%. 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. In Carmel, 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 | 293 |
Total Units Section 8 | 270 |
% Rentals under Section 8 | 16.3% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$140 | $2,350 | $2,210 |
| 2 Bedroom | -$20 | $2,500 | $2,480 |
| 3 Bedroom | -$700 | $3,800 | $3,100 |
| 4 Bedroom | -$6,670 | $10,000 | $3,330 |
Affordability — Carmel, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $486,000 |
| Median Household Income | $125,000 |