Market Overview
Home Prices in Locust Valley, NY
The median home value in Locust Valley, NY is $1,241,656 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.7% compared to a year ago and up 5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Locust Valley are priced203% above average. Locust Valley is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Over the past five years, Locust Valley home values have risen by approximately32.7%, reflecting strong long-term appreciation in this market.
Price History
Locust Valley Home Price Trend
City Comparison
Locust Valley vs. National Median
At $1,241,656, homes in Locust Valley cost 203% above the national median of $410,000. Buyers in Locust Valley should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Locust Valley?
20% Down Payment
$248,331
on $1,241,656
Monthly P&I
$6,476/mo
30-yr @ 6.8%
Total Monthly Est.
~$8,225/mo
incl. taxes & insurance
Income Needed
$329,000
gross annual (30% rule)
10% Down Option
$124,166
+ PMI applies
Loan Amount (20% dn)
$993,325
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 Locust Valley, NY?
The median home value in Locust Valley is $1,241,656 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.7% year-over-year.
How much have home prices changed in Locust Valley?
Over the past year, home values in Locust Valley have increased by 4.7%. Over five years, prices have risen approximately 32.7%.
How much do I need to earn to buy a home in Locust Valley?
To comfortably afford the median home price of $1,241,656 with a 20% down payment ($248,331) at today's rates (6.8%), you'd need a gross annual income of approximately $329,000. This assumes keeping total housing costs at or below 30% of gross income.
How does Locust Valley compare to the national average home price?
The national median home value is approximately $410,000. At $1,241,656, homes in Locust Valley are 203% above the national average.
What metro area is Locust Valley part of?
Locust Valley 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.