Hempstead, NY—11550
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hempstead, NY
As of Oct '25, the median home price in Hempstead, NY is $623,000, with a year-over-year change of 5.3%. This indicates that home prices in Hempstead, 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 | $623,000 | 5.4% |
| Single Family | $628,000 | 4.5% |
| Condos | $277,000 | 8.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $510,000 | 5.8% |
3 Bed | $621,000 | 4.2% |
4 Bed | $657,000 | 4.5% |
| 5 Bed | $701,000 | 5.1% |
% of Housing Stock
Rental Trends — Hempstead, NY
As of July '25, Rentcast reports the average rent in Hempstead, NY is $3,620, with a year-over-year rent change of 2.5%. Per bedroom, the median rent as of July '25 in Hempstead, NY is studios: $1,570, 1-bedrooms: $2,240, 2-bedrooms: $3,040, 3-bedrooms: $3,700, 4-bedrooms: $4,810. The most common rental property sizes in Hempstead, NY are 1-bedroom and 2-bedroom, accounting for 34.5% and 32.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,400 | $3,620 |
| Studio Rent | $1,340 | $1,570 |
| 1 Bed Rent | $2,250 | $2,240 |
| 2 Bed Rent | $3,000 | $3,040 |
| 3 Bed Rent | $3,600 | $3,700 |
| 4 Bed Rent | $4,900 | $4,810 |
% of Rental Stock
Property Listings — Hempstead, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Hempstead, NY is 47. 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 8.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $670,000 | 8.0% |
Listing Count | 132 | 27.0% |
| Listings as % of Homes | 0.4% | 27.0% |
Days on Market | 47 | -3.0% |
Demographics — Hempstead, NY
As of the latest ACS Survey released in 2023, Hempstead, NY has a population of 60,700, which has increased by 5.2% over the past 5 years. Hempstead, NY is a moderately popular place for families, as children make up 23.3% of the population. The area has a poorly educated workforce, with 20.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 60,700 | 5.2% |
% Under 18 | 23.3% | -10.0% |
% Seniors | 13.2% | 23.4% |
% WFH | 6.7% | 191.3% |
% w/ College Degree | 20.9% | 2.0% |
As of the latest ACS Survey released in 2023, Hempstead, NY is a predominantly hispanic area, with 44.5% of the population identifying as hispanic. The hispanic population has shrunk by 3.1% in the last 5 years. The second most common race or ethnicity in Hempstead, NY is black, making up 44.1% of the population. Foreign-born residents account for 36.8% of the population in Hempstead, NY, and this percentage has decreased by 9.1% 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 | 6.5% | -7.1% |
% Black | 44.1% | -3.7% |
% Hispanic | 44.5% | -3.1% |
% Asian | 2.4% | 60.0% |
% Foreign Born | 36.8% | -9.1% |
Mortgage and Risk — Hempstead, NY
According to HUD data as of 2023, there were 375 mortgage originations in Hempstead, NY, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Hempstead, NY. Investor activity is low, as 4.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 375 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Hempstead, NY
As of 2024, the percent of homes in Hempstead, NY under the Section 8 program is 26.2%. 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. In Hempstead, NY, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 2,746 |
Total Units Section 8 | 2,445 |
% Rentals under Section 8 | 26.2% |
% Occupied Section 8 | 87.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$320 | $2,250 | $1,930 |
| 2 Bedroom | -$740 | $3,000 | $2,260 |
| 3 Bedroom | -$670 | $3,600 | $2,930 |
| 4 Bedroom | -$1,730 | $4,900 | $3,170 |
Affordability — Hempstead, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.1 |
| Median Home Price | $623,000 |
| Median Household Income | $86,900 |