Market Overview
Home Prices in Hempstead, NY
The median home value in Hempstead, NY is $647,376 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4% compared to a year ago and up 7.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Hempstead are priced58% above average. Hempstead is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Price History
Hempstead Home Price Trend
2024
$580,036
$580K
—
2025
$622,574
$623K
+7.3%
2026
$647,376
$647K
+4.0%
City Comparison
Hempstead vs. National Median
🏠 Hempstead
$647,376
National Median
$410,000
At $647,376, homes in Hempstead cost 58% above the national median of $410,000. Buyers in Hempstead should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Hempstead?
20% Down Payment
$129,475
on $647,376
Monthly P&I
$3,376/mo
30-yr @ 6.8%
Total Monthly Est.
~$4,288/mo
incl. taxes & insurance
Income Needed
$171,520
gross annual (30% rule)
10% Down Option
$64,738
+ PMI applies
Loan Amount (20% dn)
$517,901
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Hempstead, NY?
The median home value in Hempstead is $647,376 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4% year-over-year.
How much have home prices changed in Hempstead?
Over the past year, home values in Hempstead have increased by 4%.
How much do I need to earn to buy a home in Hempstead?
To comfortably afford the median home price of $647,376 with a 20% down payment ($129,475) at today's rates (6.8%), you'd need a gross annual income of approximately $171,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Hempstead compare to the national average home price?
The national median home value is approximately $410,000. At $647,376, homes in Hempstead are 58% above the national average.
What metro area is Hempstead part of?
Hempstead is part of the New York-Newark-Jersey City, NY-NJ-PA metropolitan area. Home prices and market conditions can vary across the broader metro region.