Flatlands, New York, NY—11234
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Flatlands, New York, NY
As of Oct '25, the median home price in Flatlands, New York, NY is $763,000, with a year-over-year change of 3.3%. This indicates that home prices in Flatlands, New York, NY are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $763,000 | 3.3% |
| Single Family | $790,000 | 2.9% |
| Condos | $387,000 | 2.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $271,000 | 1.5% |
2 Bed | $576,000 | 2.5% |
3 Bed | $793,000 | 2.7% |
4 Bed | $974,000 | 3.4% |
| 5 Bed | $1,136,000 | 2.8% |
% of Housing Stock
Rental Trends — Flatlands, New York, NY
As of July '25, Rentcast reports the average rent in Flatlands, New York, NY is $2,640, with a year-over-year rent change of -7.7%. Per bedroom, the median rent as of July '25 in Flatlands, New York, NY is studios: $1,470, 1-bedrooms: $1,740, 2-bedrooms: $2,400, 3-bedrooms: $3,330, 4-bedrooms: $4,350. The most common rental property sizes in Flatlands, New York, NY are 2-bedroom and 3-bedroom, accounting for 46.1% and 25.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,640 |
| Studio Rent | $1,800 | $1,470 |
| 1 Bed Rent | $1,850 | $1,740 |
| 2 Bed Rent | $2,300 | $2,400 |
| 3 Bed Rent | $3,200 | $3,330 |
| 4 Bed Rent | $3,500 | $4,350 |
% of Rental Stock
Property Listings — Flatlands, New York, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Flatlands, New York, NY is 71. This is a decrease of -6.0% 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 11.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $777,000 | -1.0% |
Listing Count | 289 | 11.0% |
| Listings as % of Homes | 0.8% | 11.0% |
Days on Market | 71 | -6.0% |
Demographics — Flatlands, New York, NY
As of the latest ACS Survey released in 2023, Flatlands, New York, NY has a population of 87,800, which has decreased by -8.2% over the past 5 years. Flatlands, New York, NY is a moderately popular place for families, as children make up 20.8% of the population. The area has a moderately educated workforce, with 38.8% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 87,800 | -8.2% |
% Under 18 | 20.8% | -8.4% |
% Seniors | 20.8% | 23.8% |
% WFH | 9.1% | 213.8% |
% w/ College Degree | 38.8% | 11.5% |
As of the latest ACS Survey released in 2023, Flatlands, New York, NY is a predominantly black area, with 42.8% of the population identifying as black. The black population has shrunk by 6.6% in the last 5 years. The second most common race or ethnicity in Flatlands, New York, NY is white, making up 34.9% of the population. Foreign-born residents account for 35.4% of the population in Flatlands, New York, NY, and this percentage has decreased by 5.9% 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 | 34.9% | -6.9% |
% Black | 42.8% | -6.6% |
% Hispanic | 9.8% | -6.7% |
% Asian | 8.2% | 22.4% |
% Foreign Born | 35.4% | -5.9% |
Mortgage and Risk — Flatlands, New York, NY
According to HUD data as of 2023, there were 706 mortgage originations in Flatlands, New York, NY, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Flatlands, New York, NY. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 706 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Flatlands, New York, NY
As of 2024, the percent of homes in Flatlands, New York, NY under the Section 8 program is 2.3%. 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 Flatlands, New York, NY, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 1,267 |
Total Units Section 8 | 253 |
% Rentals under Section 8 | 2.3% |
% Occupied Section 8 | 86.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $560 | $1,850 | $2,410 |
| 2 Bedroom | $370 | $2,300 | $2,670 |
| 3 Bedroom | $130 | $3,200 | $3,330 |
| 4 Bedroom | $90 | $3,500 | $3,590 |
Affordability — Flatlands, New York, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.5 |
| Median Home Price | $763,000 |
| Median Household Income | $94,400 |