Great Neck, NY—11020
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Great Neck, NY
As of Oct '25, the median home price in Great Neck, NY is $1,657,000, with a year-over-year change of 11.5%. This indicates that home prices in Great Neck, 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 | $1,657,000 | 11.5% |
| Single Family | $1,672,000 | 12.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $1,251,000 | 4.2% |
4 Bed | $1,670,000 | 5.4% |
| 5 Bed | $2,113,000 | 5.0% |
% of Housing Stock
Rental Trends — Great Neck, NY
As of July '25, Rentcast reports the average rent in Great Neck, NY is $6,700, with a year-over-year rent change of -15.5%. Per bedroom, the median rent as of July '25 in Great Neck, NY is 3-bedrooms: $5,000, 4-bedrooms: $6,520. The most common rental property sizes in Great Neck, NY are 4-bedroom and 5+ bedroom, accounting for 58.3% and 18.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $6,500 | $6,700 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $5,000 | $5,000 |
| 4 Bed Rent | $5,800 | $6,520 |
% of Rental Stock
Property Listings — Great Neck, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Great Neck, NY is 48. This is a decrease of -17.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $2,040,000 | 7.0% |
Listing Count | 21 | 8.0% |
| Listings as % of Homes | 1.0% | 8.0% |
Days on Market | 48 | -17.0% |
Demographics — Great Neck, NY
As of the latest ACS Survey released in 2023, Great Neck, NY has a population of 5,990, which has increased by 4.5% over the past 5 years. Great Neck, NY is a moderately popular place for families, as children make up 20.6% of the population. The area has a highly educated workforce, with 62.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,990 | 4.5% |
% Under 18 | 20.6% | -6.8% |
% Seniors | 15.6% | -15.7% |
% WFH | 14.0% | 75.0% |
% w/ College Degree | 62.9% | 6.2% |
As of the latest ACS Survey released in 2023, Great Neck, NY is a predominantly asian area, with 43.1% of the population identifying as asian. The asian population has grown by 2.6% in the last 5 years. The second most common race or ethnicity in Great Neck, NY is white, making up 37.8% of the population. Foreign-born residents account for 31.7% of the population in Great Neck, NY, and this percentage has decreased by 15.9% 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 | 37.8% | -5.0% |
% Black | 14.4% | 39.8% |
% Hispanic | 4.7% | -25.4% |
% Asian | 43.1% | 2.6% |
% Foreign Born | 31.7% | -15.9% |
Mortgage and Risk — Great Neck, NY
According to HUD data as of 2023, there were 70 mortgage originations in Great Neck, NY, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 0.0% above 90% LTV (normal). This implies small mortgage risk in Great Neck, NY. Investor activity is low, as 0.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 70 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Great Neck, NY
Great Neck, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 94 |
Total Units Section 8 | 94 |
% Rentals under Section 8 | 37.9% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $2,660 |
| 2 Bedroom | N/A | N/A | $3,070 |
| 3 Bedroom | -$1,020 | $5,000 | $3,980 |
| 4 Bedroom | -$1,540 | $5,800 | $4,260 |
Affordability — Great Neck, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.7 |
| Median Home Price | $1,657,000 |
| Median Household Income | $169,000 |