Housing & Real Estate Statistics
Long Island, New York has one of the most closely watched real estate markets in the region. Home prices are consistently high by national standards, rents remain elevated, and limited housing supply continues to shape affordability across both Nassau County and Suffolk County. This page presents a data-focused snapshot of Long Island housing, drawing from sources such as the U.S. Census Bureau, HUD Fair Market Rents, MLS market reporting, and public property-tax data.
Because housing data changes frequently, especially monthly home-sale prices, the figures below should be read as a current statistical snapshot rather than a permanent market valuation. Census housing data is generally based on multi-year survey estimates, while MLS pricing reflects market activity during specific months or reporting periods.
Long Island Housing Snapshot (2025–2026)
| Metric | Nassau County | Suffolk County | Long Island Overall |
|---|---|---|---|
| Recent Median Single-Family Sale Price | ≈ $835,000–$850,000 | ≈ $700,000+ | ≈ $765,000–$775,000 |
| HUD Fair Market Rent, 2BR | $2,747 | $2,747 | $2,747 for Nassau-Suffolk HUD FMR area |
| Housing Units | 480,591 | 583,777 | 1,064,368 |
| Owner-Occupied Housing Rate | 81.9% | 82.2% | ≈ 82% |
| Median Owner-Occupied Home Value | $684,700 | $578,400 | High-cost suburban market |
| Median Gross Rent | $2,252 | $2,255 | ≈ $2,250 |
| Median Monthly Owner Costs With Mortgage | $3,795 | $3,320 | Above national average |
| Building Permits | 821 | 1,399 | 2,220 |
Sources include U.S. Census Bureau QuickFacts / ACS 2020–2024 housing estimates, HUD FY 2026 Fair Market Rents, and recent OneKey MLS / regional market reporting. MLS sale prices fluctuate month to month and may vary by property type, reporting period, and whether East End sales are included.
Market Trend Overview
Long Island’s housing market has appreciated substantially over the past decade, with the sharpest pressure emerging during and after the COVID-era housing surge. Low inventory, strong household incomes, limited new construction, high land costs, and steady commuter demand have helped keep sale prices elevated even as mortgage rates increased.
Nassau County generally commands higher prices because of its closer proximity to New York City, dense commuter communities, and limited developable land. Suffolk County remains larger geographically and has a broader range of housing markets, from western commuter suburbs to North Shore villages, South Shore waterfront communities, and East End resort areas.
Rents have also remained high, although rental measurements vary depending on whether the source is Census median gross rent, HUD Fair Market Rent, private apartment listings, or asking-rent data from online marketplaces. HUD’s FY 2026 Fair Market Rent for a two-bedroom unit in the Nassau-Suffolk area is $2,747, while Census median gross rent for 2020–2024 is slightly above $2,250 in both counties.
Methodology
- Housing and occupancy data: U.S. Census Bureau QuickFacts and American Community Survey estimates.
- Home-sale prices: Recent OneKey MLS and regional market reports, generally focused on single-family closed sales unless otherwise noted.
- Rental data: HUD Fair Market Rents and Census median gross rent. HUD FMRs are used for housing programs and may differ from private-market asking rents.
- Property-tax context: Public tax and policy sources, including county and national property-tax comparisons. Actual tax bills vary by municipality, school district, assessed value, exemptions, and property class.
- Limitations: Real estate prices can change quickly, and different sources may report different medians depending on timing, property type, geography, and methodology.
Affordability Snapshot (2026)
The table below illustrates the approximate monthly cost of buying a median-priced single-family home using a 30-year mortgage, 20% down payment, and a 6.75% interest-rate assumption. These are directional estimates, not lending quotes. Actual costs depend on mortgage rate, credit profile, taxes, insurance, location, purchase price, and down payment.
| Metric | Nassau County | Suffolk County |
|---|---|---|
| Illustrative Median Home Price | $835,000 | $700,000 |
| Assumptions | 30-year fixed mortgage, 20% down, 6.75% rate, PMI excluded, homeowner insurance estimated at $150/month | |
| Estimated Monthly Mortgage Payment (P&I) | ≈ $4,333 | ≈ $3,632 |
| Estimated Property Taxes | ≈ $1,250–$1,450/mo | ≈ $900–$1,100/mo |
| Estimated Total Monthly Ownership Cost | ≈ $5,733–$5,933 | ≈ $4,682–$4,882 |
| Median Household Income | $146,202 | $130,686 |
| Estimated Annual Ownership Cost | ≈ $68,800–$71,200 | ≈ $56,200–$58,600 |
| Estimated Owner Cost Burden | ≈ 47%–49% of median household income | ≈ 43%–45% of median household income |
| HUD 2BR Fair Market Rent | $2,747 | $2,747 |
| HUD 2BR Rent as Share of Median Household Income | ≈ 23% | ≈ 25% |
| Price-to-Income Ratio | ≈ 5.7× | ≈ 5.4× |
Notes: Principal and interest are calculated using a standard mortgage amortization formula. Property taxes are estimated ranges based on Long Island’s high-tax environment and can vary significantly by town, school district, village, exemptions, and assessment. Renter affordability is shown against overall median household income for directional comparison; actual renter household income may differ from countywide median income.
Housing Costs, Taxes & Local Pressure Points
Long Island housing affordability is shaped by more than sale price alone. Property taxes, mortgage rates, insurance, maintenance, school-district boundaries, and local zoning all influence the monthly cost of owning a home. Nassau and Suffolk are consistently associated with some of the highest property-tax burdens in the country, especially when measured by median tax bills.
The region’s high homeownership rate also affects the housing debate. With more than 80% of occupied housing units owner-occupied in both counties, many communities are built around single-family homes. That pattern supports neighborhood stability but can also limit rental supply, starter-home availability, and housing options for young adults, seniors, and workers who cannot afford to buy.
New construction remains limited relative to demand. Census building-permit data shows new housing activity in both counties, but the pace is modest compared with the size of the region and the long-running shortage of available homes. This imbalance helps explain why prices can remain high even when buyer demand softens.
FAQ
Q: Why are home prices higher in Nassau than Suffolk?
A: Nassau is closer to New York City, has strong commuter demand, high household incomes, and less available land. Those factors generally push home prices higher than in Suffolk, although Suffolk includes many high-priced communities of its own, especially on the North Shore, South Shore waterfront, and East End.
Q: How do Long Island property taxes compare nationally?
A: Nassau and Suffolk are commonly ranked among the highest-tax counties in the United States when measured by median property-tax bills. Actual tax bills vary widely depending on municipality, school district, assessed value, exemptions, and whether the property is inside a village or special district.
Q: Why do Census rent figures differ from HUD Fair Market Rents?
A: Census median gross rent is based on survey data for occupied rental housing, while HUD Fair Market Rent is a program benchmark used for housing assistance and related federal housing calculations. HUD FMRs are not the same as private-market asking rents and may differ from rents shown on apartment-listing websites.
Q: What is driving Long Island’s affordability concerns?
A: High home prices, elevated property taxes, limited inventory, zoning constraints, construction costs, and higher mortgage rates all contribute to affordability pressure. Even with high median incomes, many households face a difficult gap between earnings and the cost of buying or renting locally.
Q: Is Suffolk still more affordable than Nassau?
A: Generally yes, but the gap has narrowed in many areas. Suffolk’s median sale prices are usually lower than Nassau’s, but Suffolk home prices have also risen sharply, and some Suffolk communities are among the most expensive markets in New York State.
Data Sources & Updates
Data Last Updated: June 2026.
The housing information presented on this page is compiled from official and public data sources, including the U.S. Census Bureau, Census QuickFacts, American Community Survey (ACS) estimates, HUD Fair Market Rents (FMR), OneKey MLS and regional real estate market reporting, and public property-tax research sources such as the Tax Foundation. Data is reviewed periodically and updated as new Census estimates, HUD rent schedules, MLS market reports, and property-tax data become available.
Because real estate statistics can vary by source and reporting period, figures such as median sale price, rent, inventory, and affordability should be interpreted as current estimates rather than permanent values. Monthly MLS data may differ from annual Census estimates, and countywide figures may not reflect conditions in specific villages, hamlets, school districts, waterfront communities, or East End markets.
