Tappan, NY—10983
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Tappan, NY
As of Oct '25, the median home price in Tappan, NY is $713,000, with a year-over-year change of 3.5%. This indicates that home prices in Tappan, NY are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $713,000 | 3.5% |
| Single Family | $718,000 | 3.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $535,000 | 4.1% |
3 Bed | $637,000 | 3.1% |
4 Bed | $796,000 | 5.0% |
| 5 Bed | $888,000 | 3.9% |
% of Housing Stock
Rental Trends — Tappan, NY
As of July '25, Rentcast reports the average rent in Tappan, NY is $3,920, with a year-over-year rent change of 12.0%. Per bedroom, the median rent as of July '25 in Tappan, NY is 1-bedrooms: $2,350, 2-bedrooms: $2,600, 4-bedrooms: $4,750. The most common rental property sizes in Tappan, NY are 5+ bedroom and 1-bedroom, accounting for 41.5% and 32.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,600 | $3,920 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,350 | $2,350 |
| 2 Bed Rent | $2,600 | $2,600 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | $4,750 | $4,750 |
% of Rental Stock
Property Listings — Tappan, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Tappan, NY is 38. This is a decrease of -23.0% 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 | $736,000 | 8.0% |
Listing Count | 20 | 100.0% |
| Listings as % of Homes | 0.3% | 100.0% |
Days on Market | 38 | -23.0% |
Demographics — Tappan, NY
As of the latest ACS Survey released in 2023, Tappan, NY has a population of 5,490, which has decreased by -11.2% over the past 5 years. Tappan, NY is a moderately popular place for families, as children make up 17.1% of the population. The area has a highly educated workforce, with 61.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,490 | -11.2% |
% Under 18 | 17.1% | -24.7% |
% Seniors | 19.1% | -8.6% |
% WFH | 14.4% | 350.0% |
% w/ College Degree | 61.9% | 22.1% |
As of the latest ACS Survey released in 2023, Tappan, NY is a predominantly white area, with 70.4% of the population identifying as white. The white population has grown by 0.4% in the last 5 years. The second most common race or ethnicity in Tappan, NY is asian, making up 12.2% of the population. Foreign-born residents account for 18.9% of the population in Tappan, NY, and this percentage has increased by 5.6% 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 | 70.4% | 0.4% |
% Black | 3.1% | 342.9% |
% Hispanic | 11.3% | -13.7% |
% Asian | 12.2% | -17.0% |
% Foreign Born | 18.9% | 5.6% |
Mortgage and Risk — Tappan, NY
According to HUD data as of 2023, there were 57 mortgage originations in Tappan, NY, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Tappan, NY. Investor activity is low, as 0.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 57 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Tappan, NY
Tappan, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 0.7% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $960 | $2,350 | $3,310 |
| 2 Bedroom | $1,070 | $2,600 | $3,670 |
| 3 Bedroom | N/A | N/A | $4,570 |
| 4 Bedroom | $180 | $4,750 | $4,930 |
Affordability — Tappan, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $713,000 |
| Median Household Income | $179,000 |