Sheepshead Bay, New York, NY—11229
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Sheepshead Bay, New York, NY
As of Oct '25, the median home price in Sheepshead Bay, New York, NY is $758,000, with a year-over-year change of 2.8%. This indicates that home prices in Sheepshead Bay, New York, NY are increasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $758,000 | 2.8% |
| Single Family | $952,000 | 4.6% |
| Condos | $363,000 | -0.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $291,000 | 4.3% |
2 Bed | $532,000 | 3.7% |
3 Bed | $898,000 | 4.2% |
4 Bed | $1,041,000 | 4.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Sheepshead Bay, New York, NY
As of July '25, Rentcast reports the average rent in Sheepshead Bay, New York, NY is $2,600, with a year-over-year rent change of 1.6%. Per bedroom, the median rent as of July '25 in Sheepshead Bay, New York, NY is studios: $1,950, 1-bedrooms: $2,350, 2-bedrooms: $2,850, 3-bedrooms: $3,000, 4-bedrooms: $4,500. The most common rental property sizes in Sheepshead Bay, New York, NY are 1-bedroom and 2-bedroom, accounting for 32.1% and 30.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,600 |
| Studio Rent | $1,650 | $1,950 |
| 1 Bed Rent | $2,500 | $2,350 |
| 2 Bed Rent | $2,500 | $2,850 |
| 3 Bed Rent | $2,800 | $3,000 |
| 4 Bed Rent | $4,500 | $4,500 |
% of Rental Stock
Property Listings — Sheepshead Bay, New York, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Sheepshead Bay, New York, NY is 83. This is a decrease of 0.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $589,000 | 1.0% |
Listing Count | 250 | 3.0% |
| Listings as % of Homes | 0.7% | 3.0% |
Days on Market | 83 | 0.0% |
Demographics — Sheepshead Bay, New York, NY
As of the latest ACS Survey released in 2023, Sheepshead Bay, New York, NY has a population of 79,800, which has decreased by -4.6% over the past 5 years. Sheepshead Bay, New York, NY is a moderately popular place for families, as children make up 22.5% of the population. The area has a moderately educated workforce, with 41.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 79,800 | -4.6% |
% Under 18 | 22.5% | 5.6% |
% Seniors | 21.2% | 18.4% |
% WFH | 14.5% | 215.2% |
% w/ College Degree | 41.3% | 9.8% |
As of the latest ACS Survey released in 2023, Sheepshead Bay, New York, NY is a predominantly white area, with 58.5% of the population identifying as white. The white population has shrunk by 1.5% in the last 5 years. The second most common race or ethnicity in Sheepshead Bay, New York, NY is asian, making up 22.3% of the population. Foreign-born residents account for 46.5% of the population in Sheepshead Bay, New York, NY, and this percentage has decreased by 1.3% 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 | 58.5% | -1.5% |
% Black | 6.6% | 10.0% |
% Hispanic | 9.1% | -15.7% |
% Asian | 22.3% | 0.5% |
% Foreign Born | 46.5% | -1.3% |
Mortgage and Risk — Sheepshead Bay, New York, NY
According to HUD data as of 2023, there were 365 mortgage originations in Sheepshead Bay, New York, NY, of which 97.0% 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 Sheepshead Bay, New York, NY. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 365 |
% Conventional Loans | 97.0% |
% Government Loans | 3.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Sheepshead Bay, New York, NY
As of 2024, the percent of homes in Sheepshead Bay, New York, NY under the Section 8 program is 6.5%. 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. 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Sheepshead Bay, New York, NY, because HUD payments exceed market rent, while 1-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 2,870 |
Total Units Section 8 | 1,012 |
% Rentals under Section 8 | 6.5% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$150 | $2,500 | $2,350 |
| 2 Bedroom | $100 | $2,500 | $2,600 |
| 3 Bedroom | $440 | $2,800 | $3,240 |
| 4 Bedroom | -$1,000 | $4,500 | $3,500 |
Affordability — Sheepshead Bay, New York, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 10.2 |
| Median Home Price | $758,000 |
| Median Household Income | $72,600 |