Water Mill, NY—11976
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Water Mill, NY
As of Oct '25, the median home price in Water Mill, NY is $4,867,000, with a year-over-year change of 3.3%. This indicates that home prices in Water Mill, NY are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $4,867,000 | 3.3% |
| Single Family | $4,949,000 | 3.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $1,768,000 | 4.4% |
3 Bed | $2,437,000 | 3.3% |
4 Bed | $3,720,000 | 2.7% |
| 5 Bed | $7,334,000 | 3.8% |
% of Housing Stock
Rental Trends — Water Mill, NY
As of July '25, Rentcast reports the average rent in Water Mill, NY is $7,830, with a year-over-year rent change of 1.3%. Per bedroom, the median rent as of July '25 in Water Mill, NY is 1-bedrooms: $7,000, 2-bedrooms: $6,000. The most common rental property sizes in Water Mill, NY are 5+ bedroom and 3-bedroom, accounting for 45.2% and 29.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $7,000 | $7,830 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $7,000 | $7,000 |
| 2 Bed Rent | $6,000 | $6,000 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Water Mill, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Water Mill, NY is 77. 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 8.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $6,280,000 | -9.0% |
Listing Count | 118 | -1.0% |
| Listings as % of Homes | 4.7% | -1.0% |
Days on Market | 77 | -27.0% |
Demographics — Water Mill, NY
As of the latest ACS Survey released in 2023, Water Mill, NY has a population of 2,450, which has increased by 22.6% over the past 5 years. Water Mill, NY is a less popular place for families, as children make up 11.8% of the population. The area has a highly educated workforce, with 77.2% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 42.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,450 | 22.6% |
% Under 18 | 11.8% | -16.3% |
% Seniors | 26.4% | 69.2% |
% WFH | 42.1% | 389.5% |
% w/ College Degree | 77.2% | 33.8% |
As of the latest ACS Survey released in 2023, Water Mill, NY is a predominantly white area, with 87.2% of the population identifying as white. The white population has grown by 10.2% in the last 5 years. The second most common race or ethnicity in Water Mill, NY is hispanic, making up 9.5% of the population. Foreign-born residents account for 11.2% of the population in Water Mill, NY, and this percentage has decreased by 50.7% 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 | 87.2% | 10.2% |
% Black | 0.5% | 66.7% |
% Hispanic | 9.5% | -23.4% |
% Asian | 2.0% | -37.5% |
% Foreign Born | 11.2% | -50.7% |
Mortgage and Risk — Water Mill, NY
According to HUD data as of 2023, there were 42 mortgage originations in Water Mill, NY, of which 100.0% of loans were conventional mortgages. The average loan-to-value was 49.0%, with 2.0% above 90% LTV (normal). This implies small mortgage risk in Water Mill, NY. Investor activity is low, as 0.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 42 |
% Conventional Loans | 100.0% |
% Government Loans | 0.0% |
% Investor Loans | 0.0% |
% Second Loans | 64.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Water Mill, NY
Water Mill, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$4,260 | $7,000 | $2,740 |
| 2 Bedroom | -$2,790 | $6,000 | $3,210 |
| 3 Bedroom | N/A | N/A | $4,150 |
| 4 Bedroom | N/A | N/A | $4,500 |
Affordability — Water Mill, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 27.2 |
| Median Home Price | $4,867,000 |
| Median Household Income | $158,000 |