Great Neck, NY—11023
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 $1,451,000, with a year-over-year change of 11.6%. This indicates that home prices in Great Neck, NY are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,451,000 | 11.6% |
| Single Family | $1,485,000 | 11.2% |
| 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 | $1,308,000 | 18.4% |
4 Bed | $1,569,000 | 9.5% |
| 5 Bed | $2,107,000 | 6.1% |
% of Housing Stock
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.
| Type | Median Rent | Average 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 |
% 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 71. This is a increase of 20.0% 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 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,840,000 | 9.0% |
Listing Count | 47 | 70.0% |
| Listings as % of Homes | 0.7% | 70.0% |
Days on Market | 71 | 20.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,820 | 6.6% |
% Under 18 | 32.0% | 3.6% |
% Seniors | 20.8% | 7.2% |
% WFH | 12.7% | 64.9% |
% w/ College Degree | 67.7% | 12.1% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.6 |
| Median Home Price | $1,451,000 |
| Median Household Income | $152,000 |