Melville, NY—11747
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Melville, NY
As of Oct '25, the median home price in Melville, NY is $899,000, with a year-over-year change of 2.2%. This indicates that home prices in Melville, NY are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $899,000 | 2.2% |
| Single Family | $906,000 | 0.9% |
| Condos | $849,000 | -1.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $709,000 | -0.8% |
3 Bed | $874,000 | 1.7% |
4 Bed | $1,049,000 | 3.6% |
| 5 Bed | $1,543,000 | 1.3% |
% of Housing Stock
Rental Trends — Melville, NY
As of July '25, Rentcast reports the average rent in Melville, NY is $4,360, with a year-over-year rent change of -11.4%. Per bedroom, the median rent as of July '25 in Melville, NY is studios: $4,650, 1-bedrooms: $2,930, 2-bedrooms: $3,220, 3-bedrooms: $5,510. The most common rental property sizes in Melville, NY are 3-bedroom and 1-bedroom, accounting for 35.8% and 35.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $4,250 | $4,360 |
| Studio Rent | $4,650 | $4,650 |
| 1 Bed Rent | $2,930 | $2,930 |
| 2 Bed Rent | $3,500 | $3,220 |
| 3 Bed Rent | $4,800 | $5,510 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Melville, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Melville, NY is 64. 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,080,000 | -6.0% |
Listing Count | 98 | 26.0% |
| Listings as % of Homes | 0.7% | 26.0% |
Days on Market | 64 | -3.0% |
Demographics — Melville, NY
As of the latest ACS Survey released in 2023, Melville, NY has a population of 19,800, which has increased by 4.8% over the past 5 years. Melville, NY is a moderately popular place for families, as children make up 17.7% of the population. The area has a highly educated workforce, with 62.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,800 | 4.8% |
% Under 18 | 17.7% | -6.8% |
% Seniors | 26.3% | -6.7% |
% WFH | 12.7% | 42.7% |
% w/ College Degree | 62.4% | 10.4% |
As of the latest ACS Survey released in 2023, Melville, NY is a predominantly white area, with 83.3% of the population identifying as white. The white population has grown by 1.7% in the last 5 years. The second most common race or ethnicity in Melville, NY is hispanic, making up 6.4% of the population. Foreign-born residents account for 11.0% of the population in Melville, NY, and this percentage has decreased by 14.7% 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 | 83.3% | 1.7% |
% Black | 1.8% | -18.2% |
% Hispanic | 6.4% | -4.5% |
% Asian | 5.8% | -20.5% |
% Foreign Born | 11.0% | -14.7% |
Mortgage and Risk — Melville, NY
According to HUD data as of 2023, there were 224 mortgage originations in Melville, NY, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Melville, 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 | 224 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Melville, NY
Melville, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 196 |
Total Units Section 8 | 54 |
% Rentals under Section 8 | 5.4% |
% Occupied Section 8 | 66.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $170 | $2,930 | $3,100 |
| 2 Bedroom | $80 | $3,500 | $3,580 |
| 3 Bedroom | -$160 | $4,800 | $4,640 |
| 4 Bedroom | N/A | N/A | $4,970 |
Affordability — Melville, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.3 |
| Median Home Price | $899,000 |
| Median Household Income | $155,000 |