Richmond Hill, New York, NY—11418
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Richmond Hill, New York, NY
As of Oct '25, the median home price in Richmond Hill, New York, NY is $731,000, with a year-over-year change of 4.1%. This indicates that home prices in Richmond Hill, New York, NY are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $731,000 | 4.1% |
| Single Family | $803,000 | 3.6% |
| Condos | $381,000 | 0.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $317,000 | 2.9% |
2 Bed | $509,000 | 3.2% |
3 Bed | $747,000 | 3.2% |
4 Bed | $823,000 | 5.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Richmond Hill, New York, NY
As of July '25, Rentcast reports the average rent in Richmond Hill, New York, NY is $3,090, with a year-over-year rent change of -1.0%. Per bedroom, the median rent as of July '25 in Richmond Hill, New York, NY is studios: $3,770, 1-bedrooms: $2,680, 2-bedrooms: $2,900, 3-bedrooms: $3,200, 4-bedrooms: $3,440. The most common rental property sizes in Richmond Hill, New York, NY are 2-bedroom and 1-bedroom, accounting for 37.9% and 33.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,000 | $3,090 |
| Studio Rent | $3,200 | $3,770 |
| 1 Bed Rent | $2,750 | $2,680 |
| 2 Bed Rent | $2,700 | $2,900 |
| 3 Bed Rent | $3,200 | $3,200 |
| 4 Bed Rent | $3,350 | $3,440 |
% of Rental Stock
Property Listings — Richmond Hill, New York, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Richmond Hill, New York, NY is 89. This is a increase of 8.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $633,000 | -2.0% |
Listing Count | 57 | 6.0% |
| Listings as % of Homes | 0.5% | 6.0% |
Days on Market | 89 | 8.0% |
Demographics — Richmond Hill, New York, NY
As of the latest ACS Survey released in 2023, Richmond Hill, New York, NY has a population of 36,300, which has decreased by -5.7% over the past 5 years. Richmond Hill, New York, NY is a moderately popular place for families, as children make up 22.0% of the population. The area has a moderately educated workforce, with 32.4% 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 | 36,300 | -5.7% |
% Under 18 | 22.0% | -6.4% |
% Seniors | 16.4% | 45.1% |
% WFH | 9.1% | 152.8% |
% w/ College Degree | 32.4% | 20.4% |
As of the latest ACS Survey released in 2023, Richmond Hill, New York, NY is a predominantly hispanic area, with 41.0% of the population identifying as hispanic. The hispanic population has shrunk by 10.3% in the last 5 years. The second most common race or ethnicity in Richmond Hill, New York, NY is asian, making up 24.0% of the population. Foreign-born residents account for 49.2% of the population in Richmond Hill, New York, NY, and this percentage has decreased by 1.4% 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 | 17.8% | 8.5% |
% Black | 8.2% | 12.3% |
% Hispanic | 41.0% | -10.3% |
% Asian | 24.0% | 0.4% |
% Foreign Born | 49.2% | -1.4% |
Mortgage and Risk — Richmond Hill, New York, NY
According to HUD data as of 2023, there were 97 mortgage originations in Richmond Hill, New York, NY, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Richmond Hill, New York, NY. Investor activity is low, as 6.0% of loans were by investors. 21.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 97 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 6.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 21.0% |
Loan Activity
Rentals and Section 8 — Richmond Hill, New York, NY
As of 2024, the percent of homes in Richmond Hill, New York, NY under the Section 8 program is 5.8%. 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 and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Richmond Hill, New York, NY, because HUD payments exceed market rent, while 1-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 322 |
Total Units Section 8 | 322 |
% Rentals under Section 8 | 5.8% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$260 | $2,750 | $2,490 |
| 2 Bedroom | $60 | $2,700 | $2,760 |
| 3 Bedroom | $240 | $3,200 | $3,440 |
| 4 Bedroom | $360 | $3,350 | $3,710 |
Affordability — Richmond Hill, New York, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.3 |
| Median Home Price | $731,000 |
| Median Household Income | $84,900 |