Market Overview
Home Prices in Shelter Island, NY
The median home value in Shelter Island, NY is $1,856,359 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.8% compared to a year ago and up 7.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Shelter Island are priced353% above average. Shelter Island is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Price History
Shelter Island Home Price Trend
2024
$1,644,494
$1.64M
—
2025
$1,771,319
$1.77M
+7.7%
2026
$1,856,359
$1.86M
+4.8%
City Comparison
Shelter Island vs. National Median
🏠 Shelter Island
$1,856,359
National Median
$410,000
At $1,856,359, homes in Shelter Island cost 353% above the national median of $410,000. Buyers in Shelter Island should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Shelter Island?
20% Down Payment
$371,272
on $1,856,359
Monthly P&I
$9,682/mo
30-yr @ 6.8%
Total Monthly Est.
~$12,296/mo
incl. taxes & insurance
Income Needed
$491,840
gross annual (30% rule)
10% Down Option
$185,636
+ PMI applies
Loan Amount (20% dn)
$1,485,087
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 Shelter Island, NY?
The median home value in Shelter Island is $1,856,359 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.8% year-over-year.
How much have home prices changed in Shelter Island?
Over the past year, home values in Shelter Island have increased by 4.8%.
How much do I need to earn to buy a home in Shelter Island?
To comfortably afford the median home price of $1,856,359 with a 20% down payment ($371,272) at today's rates (6.8%), you'd need a gross annual income of approximately $491,840. This assumes keeping total housing costs at or below 30% of gross income.
How does Shelter Island compare to the national average home price?
The national median home value is approximately $410,000. At $1,856,359, homes in Shelter Island are 353% above the national average.
What metro area is Shelter Island part of?
Shelter Island 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.