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Sheepshead Bay, New York, NY—11229

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$748,000
2.7% YoY Growth
Household Income
$72,600
19.2% YoY Growth
Days on Market
82
13.0% Shorter YoY
Home Price Forecast
0.7%
Median Rent
$2,500
1.6% YoY Growth
1-Bed Rent
$2,500
16.3% YoY Growth
2-Bed Rent
$2,500
10.5% YoY Growth
3-Bed Rent
$2,800
3.8% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Sheepshead Bay, New York, NY

As of Dec '25, the median home price in Sheepshead Bay, New York, NY is $748,000, with a year-over-year change of 2.7%. This indicates that home prices in Sheepshead Bay, New York, NY are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$748,0002.7%
Single Family $940,0004.7%
Condos $358,0000.3%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $289,000
    4.3%
    2 Bed
    		$529,0003.9%
    3 Bed
    		$888,0004.3%
    4 Bed
    		$1,028,0005.1%
    5 Bed N/AN/A
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    % of Housing Stock

    Studio
    15.4%
    1 Bedroom
    22.5%
    2 Bedrooms
    28.5%
    3 Bedrooms
    26.0%
    4 Bedrooms
    5.1%
    5+ Bedrooms
    2.4%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    25.3%
    1 Bedroom
    32.1%
    2 Bedrooms
    30.6%
    3 Bedrooms
    10.4%
    4 Bedrooms
    0.8%
    5+ Bedrooms
    0.8%

    Property Listings — Sheepshead Bay, New York, NY

    As of Dec '25, Realtor.com reports that the median days on market for a home in Sheepshead Bay, New York, NY is 74. This is a decrease of -3.0% 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 8.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$477,000-11.0%
    Listing Count
    		2286.0%
    Listings as % of Homes0.7%6.0%
    Days on Market
    		82-13.0%
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    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.

    MetricLatest CensusYoY % 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%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio10.1
    Median Home Price$748,000
    Median Household Income$72,600

    Sheepshead Bay, New York, NY — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    11235

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    11210

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    11230

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    Frequently Asked Questions