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These days, finding an affordable place to live in the New Hempstead area can be challenging. Home prices in New Hempstead are now at a median cost of $807,074, higher than the New York average of $610,895.
The average cost of rent is $2,263/mo in New Hempstead, primarily driven by the current value of real estate in the New Hempstead area. In New Hempstead, 7.82% of households rent, and 43.84% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in New Hempstead is $10,038 per month. Households that rent pay about 22.54% of their income on rent here. New Hempstead’s most expensive areas are in the southern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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Cities with Similar Populations
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