menu
Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



New Hempstead, NY Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

New Hempstead, NY Housing Market Trends

With 5,421 people, 1,475 houses or apartments, and a median cost of homes of $1,062,417, New Hempstead house prices are not only among the most expensive in New York, New Hempstead real estate also is some of the most expensive in all of America.

New Hempstead is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in New Hempstead than is found in 98% of the communities in America.

The large homes that make up New Hempstead are primarily owner-occupied ( 95.38%).

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. New Hempstead's housing was primarily built during this period, from the '40s through the '60s. A full 65.57% of the village's housing hails from this era. Other housing ages represented in New Hempstead include homes built between 1970-1999 ( 24.30%) and housing constructed before 1939 ( 5.47%). There's also some housing in New Hempstead built between 2000 and later ( 4.66%).

New Hempstead Home Appreciation Rates

In the last 10 years, New Hempstead has experienced some of the highest home appreciation rates of any community in the nation. New Hempstead real estate appreciated 131.16% over the last ten years, which is an average annual home appreciation rate of 8.74%, putting New Hempstead in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, New Hempstead definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in New Hempstead that despite a nationwide downturn in the housing market, New Hempstead real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Hempstead appreciation rates continue to be some of the highest in America, at 13.72%, which is higher than appreciation rates in 96.39% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Hempstead. New Hempstead appreciation rates in the latest quarter were at 2.82%, which equates to an annual appreciation rate of 11.77%.

Relative to New York, our data show that New Hempstead's latest annual appreciation rate is higher than 90% of the other cities and towns in New York.

Average Home Values

Median Home Value

$1,062,417

New Hempstead Appreciation Rates

Rent & Ownership

Average Market Rent:

$3,037 / per month

Homeownership Rate

Owners
Renters
95.4%
95.4%
4.6%
4.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
8.3%
8.3%
91.7%
91.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
4.7%
4.7%
24.3%
24.3%
65.6%
65.6%
5.5%
5.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
97.0%
97.0%
3.0%
3.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
2.2%
2.2%
3.1%
3.1%
12.7%
12.7%
54.6%
54.6%
27.4%
27.4%
0% 100.0%
% of Homes