Prospect Lefferts Gardens, New York, NY—11225
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Prospect Lefferts Gardens, New York, NY
As of Oct '25, the median home price in Prospect Lefferts Gardens, New York, NY is $1,118,000, with a year-over-year change of 2.8%. This indicates that home prices in Prospect Lefferts Gardens, New York, NY are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,118,000 | 2.8% |
| Single Family | $1,788,000 | 5.4% |
| Condos | $752,000 | 9.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $619,000 | 6.9% |
2 Bed | $989,000 | 5.5% |
3 Bed | $1,402,000 | 4.8% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Prospect Lefferts Gardens, New York, NY
As of July '25, Rentcast reports the average rent in Prospect Lefferts Gardens, New York, NY is $3,860, with a year-over-year rent change of 5.2%. Per bedroom, the median rent as of July '25 in Prospect Lefferts Gardens, New York, NY is studios: $2,950, 1-bedrooms: $3,420, 2-bedrooms: $4,630, 3-bedrooms: $5,140, 4-bedrooms: $3,510. The most common rental property sizes in Prospect Lefferts Gardens, New York, NY are 1-bedroom and 2-bedroom, accounting for 47.1% and 31.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,540 | $3,860 |
| Studio Rent | $2,900 | $2,950 |
| 1 Bed Rent | $3,350 | $3,420 |
| 2 Bed Rent | $4,680 | $4,630 |
| 3 Bed Rent | $4,600 | $5,140 |
| 4 Bed Rent | $3,900 | $3,510 |
% of Rental Stock
Property Listings — Prospect Lefferts Gardens, New York, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Prospect Lefferts Gardens, New York, NY is 43. This is a decrease of -31.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $806,000 | 15.0% |
Listing Count | 56 | -34.0% |
| Listings as % of Homes | 0.3% | -34.0% |
Days on Market | 43 | -31.0% |
Demographics — Prospect Lefferts Gardens, New York, NY
As of the latest ACS Survey released in 2023, Prospect Lefferts Gardens, New York, NY has a population of 56,500, which has decreased by -4.0% over the past 5 years. Prospect Lefferts Gardens, New York, 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 48.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 56,500 | -4.0% |
% Under 18 | 17.1% | -7.6% |
% Seniors | 16.0% | 27.0% |
% WFH | 19.8% | 296.0% |
% w/ College Degree | 48.1% | 24.6% |
As of the latest ACS Survey released in 2023, Prospect Lefferts Gardens, New York, NY is a predominantly black area, with 54.1% of the population identifying as black. The black population has shrunk by 15.3% in the last 5 years. The second most common race or ethnicity in Prospect Lefferts Gardens, New York, NY is white, making up 27.3% of the population. Foreign-born residents account for 32.2% of the population in Prospect Lefferts Gardens, New York, NY, and this percentage has decreased by 15.0% 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 | 27.3% | 10.5% |
% Black | 54.1% | -15.3% |
% Hispanic | 10.4% | 25.3% |
% Asian | 3.0% | 15.4% |
% Foreign Born | 32.2% | -15.0% |
Mortgage and Risk — Prospect Lefferts Gardens, New York, NY
According to HUD data as of 2023, there were 200 mortgage originations in Prospect Lefferts Gardens, New York, NY, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 6.0% above 90% LTV (normal). This implies small mortgage risk in Prospect Lefferts Gardens, New York, NY. Investor activity is low, as 3.0% 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 | 200 |
% Conventional Loans | 98.0% |
% Government Loans | 3.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Prospect Lefferts Gardens, New York, NY
As of 2024, the percent of homes in Prospect Lefferts Gardens, New York, NY under the Section 8 program is 4.9%. 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 Prospect Lefferts Gardens, New York, 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 | 1,024 |
Total Units Section 8 | 1,024 |
% Rentals under Section 8 | 4.9% |
% Occupied Section 8 | 90.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$910 | $3,350 | $2,440 |
| 2 Bedroom | -$1,980 | $4,680 | $2,700 |
| 3 Bedroom | -$1,240 | $4,600 | $3,360 |
| 4 Bedroom | -$270 | $3,900 | $3,630 |
Affordability — Prospect Lefferts Gardens, New York, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 13.1 |
| Median Home Price | $1,118,000 |
| Median Household Income | $85,200 |