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Garden City, NY Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Garden City, NY Housing Market Trends

With 23,272 people, 7,338 houses or apartments, and a median cost of homes of $1,044,367, Garden City house prices are not only among the most expensive in New York, Garden City real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Garden City, accounting for 82.82% of the village's housing units. Other types of housing that are prevalent in Garden City include large apartment complexes or high rise apartments ( 15.16%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Garden City. Owner-occupied housing accounts for 89.58% of Garden City's homes, and 71.83% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Garden City's housing was primarily built during this period, from the '40s through the '60s. A full 54.70% of the village's housing hails from this era. Other housing ages represented in Garden City include homes built before 1939 ( 36.52%) and housing constructed between 1970-1999 ( 7.21%). There's also some housing in Garden City built between 2000 and later ( 1.57%).

Garden City Home Appreciation Rates

Garden City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Garden City during the period has been just 4.05%, which is lower than 70% of US communities.

Over the last year, Garden City appreciation rates have trailed the rest of the nation. In the last twelve months, Garden City's appreciation rate has been 8.94%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Garden City were at 0.87%, which equates to an annual appreciation rate of 3.51%.

Notably, Garden City's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New York, our data show that Garden City's latest annual appreciation rate is lower than 80% of the other cities and towns in New York.

One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Garden City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Garden City - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Garden City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$1,044,367

Garden City, NY HOME PRICES

> $1,194,000
$896,001 - $1,194,000
$597,001 - $896,000
$478,001 - $597,000
$358,001 - $478,000
$239,001 - $358,000
$119,001 - $239,000
$60,001 - $119,000
$0 - $60,000
27.9%
27.9%
44.7%
44.7%
18.3%
18.3%
1.4%
1.4%
1.1%
1.1%
4.4%
4.4%
0.6%
0.6%
1.3%
1.3%
0.3%
0.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for NY

Value Relative To Nation

Number Of Homes And Apartments:
7,338

Garden City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
114.32% 3.45%
4
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$5,436 / per month

Homeownership Rate

Owners
Renters
Vacant
89.6%
89.6%
10.4%
10.4%
5.3%
5.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
1.6%
1.6%
7.2%
7.2%
54.7%
54.7%
36.5%
36.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
82.8%
82.8%
0.8%
0.8%
1.0%
1.0%
15.2%
15.2%
0.2%
0.2%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.2%
0.2%
7.0%
7.0%
8.3%
8.3%
38.0%
38.0%
33.8%
33.8%
12.7%
12.7%
0.0% 100.0%
% OF HOMES