Far Rockaway, New York, NY—11691
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Far Rockaway, New York, NY
As of Oct '25, the median home price in Far Rockaway, New York, NY is $663,000, with a year-over-year change of 2.3%. This indicates that home prices in Far Rockaway, New York, NY are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $663,000 | 2.3% |
| Single Family | $700,000 | 1.4% |
| Condos | $389,000 | 8.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $454,000 | 5.8% |
3 Bed | $602,000 | 1.3% |
4 Bed | $715,000 | 1.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Far Rockaway, New York, NY
As of July '25, Rentcast reports the average rent in Far Rockaway, New York, NY is $2,960, with a year-over-year rent change of 8.0%. Per bedroom, the median rent as of July '25 in Far Rockaway, New York, NY is studios: $1,850, 1-bedrooms: $1,380, 2-bedrooms: $2,690, 3-bedrooms: $3,430, 4-bedrooms: $3,870. The most common rental property sizes in Far Rockaway, New York, NY are 2-bedroom and 1-bedroom, accounting for 34.8% and 34.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,200 | $2,960 |
| Studio Rent | $1,850 | $1,850 |
| 1 Bed Rent | $1,000 | $1,380 |
| 2 Bed Rent | $2,600 | $2,690 |
| 3 Bed Rent | $3,460 | $3,430 |
| 4 Bed Rent | $3,700 | $3,870 |
% of Rental Stock
Property Listings — Far Rockaway, New York, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Far Rockaway, New York, NY is 80. This is a decrease of -27.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $650,000 | 17.0% |
Listing Count | 56 | 49.0% |
| Listings as % of Homes | 0.2% | 49.0% |
Days on Market | 80 | -27.0% |
Demographics — Far Rockaway, New York, NY
As of the latest ACS Survey released in 2023, Far Rockaway, New York, NY has a population of 68,700, which has increased by 2.4% over the past 5 years. Far Rockaway, New York, NY is a popular place for families, as children make up 28.4% of the population. The area has a poorly educated workforce, with 23.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 68,700 | 2.4% |
% Under 18 | 28.4% | -7.5% |
% Seniors | 16.1% | 29.8% |
% WFH | 7.6% | 162.1% |
% w/ College Degree | 23.3% | -9.7% |
As of the latest ACS Survey released in 2023, Far Rockaway, New York, NY is a predominantly black area, with 42.4% of the population identifying as black. The black population has shrunk by 9.4% in the last 5 years. The second most common race or ethnicity in Far Rockaway, New York, NY is hispanic, making up 25.7% of the population. Foreign-born residents account for 34.8% of the population in Far Rockaway, New York, NY, and this percentage has increased by 14.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 23.7% | -1.3% |
% Black | 42.4% | -9.4% |
% Hispanic | 25.7% | -2.7% |
% Asian | 4.1% | 17.1% |
% Foreign Born | 34.8% | 14.1% |
Mortgage and Risk — Far Rockaway, New York, NY
According to HUD data as of 2023, there were 147 mortgage originations in Far Rockaway, New York, NY, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Far Rockaway, New York, NY. Investor activity is low, as 5.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 147 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 5.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Far Rockaway, New York, NY
As of 2024, the percent of homes in Far Rockaway, New York, NY under the Section 8 program is 30.7%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Far Rockaway, New York, NY, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 6,541 |
Total Units Section 8 | 4,831 |
% Rentals under Section 8 | 30.7% |
% Occupied Section 8 | 89.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $1,450 | $1,000 | $2,450 |
| 2 Bedroom | $110 | $2,600 | $2,710 |
| 3 Bedroom | -$80 | $3,460 | $3,380 |
| 4 Bedroom | -$60 | $3,700 | $3,640 |
Affordability — Far Rockaway, New York, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 11 |
| Median Home Price | $663,000 |
| Median Household Income | $57,000 |