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Great Neck, NY—11023

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$1,517,000
4.7% YoY Growth
Household Income
$152,000
30.4% YoY Growth
Days on Market
40
50.0% Shorter YoY
Home Price Forecast
1.8%
Median Rent
$5,900
2.5% YoY Growth
1-Bed Rent
$2,500
52.5% YoY Growth
2-Bed Rent
$5,000
21.4% YoY Growth
3-Bed Rent
$5,900
8.8% YoY Growth

Other Zip Codes in Great Neck, NY

110201102111024
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Great Neck, NY

As of May '26, the median home price in Great Neck, NY is $1,517,000, with a year-over-year change of 4.7%. This indicates that home prices in Great Neck, 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 TypeMedian Home ValueYoY % Change
All Homes
$1,517,0004.7%
Single Family $1,565,0003.8%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		N/AN/A
    3 Bed
    		$1,361,0004.4%
    4 Bed
    		$1,667,0003.7%
    5 Bed $2,350,8575.5%
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    % of Housing Stock

    Studio
    0.4%
    1 Bedroom
    17.5%
    2 Bedrooms
    6.4%
    3 Bedrooms
    29.6%
    4 Bedrooms
    30.0%
    5+ Bedrooms
    16.2%

    Rental Trends — Great Neck, NY

    As of July '25, Rentcast reports the average rent in Great Neck, NY is $5,910, with a year-over-year rent change of -2.5%. Per bedroom, the median rent as of July '25 in Great Neck, NY is studios: $3,340, 1-bedrooms: $2,500, 2-bedrooms: $5,000, 3-bedrooms: $5,900, 4-bedrooms: $6,200. The most common rental property sizes in Great Neck, NY are 1-bedroom and 3-bedroom, accounting for 47.9% and 23.3% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$5,900$5,910
    Studio Rent $3,340$3,340
    1 Bed Rent $2,500$2,500
    2 Bed Rent $5,000$5,000
    3 Bed Rent $5,900$5,900
    4 Bed Rent $5,990$6,200
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    % of Rental Stock

    1 Bedroom
    47.9%
    2 Bedrooms
    8.8%
    3 Bedrooms
    23.3%
    4 Bedrooms
    19.6%
    5+ Bedrooms
    0.4%

    Property Listings — Great Neck, NY

    As of May '26, Realtor.com reports that the median days on market for a home in Great Neck, NY is 40. This is a decrease of -50.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$1,660,000-12.0%
    Listing Count
    		29-33.0%
    Listings as % of Homes0.7%-33.0%
    Days on Market
    		40-50.0%
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    Demographics — Great Neck, NY

    As of the latest ACS Survey released in 2023, Great Neck, NY has a population of 9,820, which has increased by 6.6% over the past 5 years. Great Neck, NY is a popular place for families, as children make up 32.0% of the population. The area has a highly educated workforce, with 67.7% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.7% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		9,8206.6%
    % Under 18
    		32.0%3.6%
    % Seniors
    		20.8%7.2%
    % WFH
    		12.7%64.9%
    % w/ College Degree
    		67.7%12.1%
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    As of the latest ACS Survey released in 2023, Great Neck, NY is a predominantly white area, with 74.1% of the population identifying as white. The white population has shrunk by 12.5% in the last 5 years. The second most common race or ethnicity in Great Neck, NY is asian, making up 16.6% of the population. Foreign-born residents account for 29.3% of the population in Great Neck, NY, and this percentage has decreased by 4.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		74.1%-12.5%
    % Black
    		1.3%44.4%
    % Hispanic
    		2.2%-53.2%
    % Asian
    		16.6%78.5%
    % Foreign Born
    		29.3%-4.2%
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    Mortgage and Risk — Great Neck, NY

    According to HUD data as of 2023, there were 58 mortgage originations in Great Neck, NY, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 2.0% 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. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		58
    % Conventional Loans
    		100.0%
    % Government Loans
    		0.0%
    % Investor Loans
    		0.0%
    % Second Loans
    		0.0%
    % Cash Out Refinance
    		9.0%
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    Rentals and Section 8 — Great Neck, NY

    As of 2024, the percent of homes in Great Neck, NY under the Section 8 program is 0.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Great Neck, 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
    		75
    Total Units Section 8
    		0
    % Rentals under Section 8
    		0.0%
    % Occupied Section 8
    		N/A

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$150$2,500$2,350
    2 Bedroom-$2,200$5,000$2,800
    3 Bedroom-$2,300$5,900$3,600
    4 Bedroom-$2,030$5,990$3,960

    Affordability — Great Neck, NY

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio7.9
    Median Home Price$1,517,000
    Median Household Income$152,000

    Great Neck, NY — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    Frequently Asked Questions