Somers, NY—10589
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Somers, NY
As of Oct '25, the median home price in Somers, NY is $660,000, with a year-over-year change of 2.6%. This indicates that home prices in Somers, NY are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $660,000 | 2.6% |
| Single Family | $717,000 | 2.9% |
| Condos | $606,000 | 2.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $461,000 | 2.0% |
2 Bed | $614,000 | 2.3% |
3 Bed | $751,000 | 4.3% |
4 Bed | $922,000 | 3.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Somers, NY
As of July '25, Rentcast reports the average rent in Somers, NY is $3,690, with a year-over-year rent change of -16.9%. Per bedroom, the median rent as of July '25 in Somers, NY is 1-bedrooms: $2,910, 2-bedrooms: $3,960, 3-bedrooms: $4,600. The most common rental property sizes in Somers, NY are 2-bedroom and 1-bedroom, accounting for 50.0% and 36.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,600 | $3,690 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,850 | $2,910 |
| 2 Bed Rent | $3,850 | $3,960 |
| 3 Bed Rent | $4,600 | $4,600 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Somers, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Somers, NY is 37. This is a increase of 33.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $668,000 | -4.0% |
Listing Count | 53 | 191.0% |
| Listings as % of Homes | 0.6% | 191.0% |
Days on Market | 37 | 33.0% |
Demographics — Somers, NY
As of the latest ACS Survey released in 2023, Somers, NY has a population of 7,270, which has decreased by -17.0% over the past 5 years. Somers, NY is a less popular place for families, as children make up 14.6% of the population. The area has a highly educated workforce, with 65.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,270 | -17.0% |
% Under 18 | 14.6% | -9.9% |
% Seniors | 45.0% | 4.9% |
% WFH | 17.2% | 164.6% |
% w/ College Degree | 65.8% | 11.9% |
As of the latest ACS Survey released in 2023, Somers, NY is a predominantly white area, with 88.7% of the population identifying as white. The white population has shrunk by 2.5% in the last 5 years. The second most common race or ethnicity in Somers, NY is hispanic, making up 6.0% of the population. Foreign-born residents account for 11.1% of the population in Somers, NY, and this percentage has decreased by 6.7% 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 | 88.7% | -2.5% |
% Black | 0.3% | -85.0% |
% Hispanic | 6.0% | 7.1% |
% Asian | 3.9% | 143.8% |
% Foreign Born | 11.1% | -6.7% |
Mortgage and Risk — Somers, NY
According to HUD data as of 2023, there were 101 mortgage originations in Somers, NY, of which 97.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 4.0% above 90% LTV (normal). This implies small mortgage risk in Somers, 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 | 101 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Somers, NY
Somers, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $920 | $2,850 | $3,770 |
| 2 Bedroom | $320 | $3,850 | $4,170 |
| 3 Bedroom | $600 | $4,600 | $5,200 |
| 4 Bedroom | N/A | N/A | $5,610 |
Affordability — Somers, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.7 |
| Median Home Price | $660,000 |
| Median Household Income | $123,000 |