States › New York › New Hempstead

Is New Hempstead, NY expensive to live in?

CheapRent takes 16 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,8666% higher than U.S. average
💵 Families earn per year (2026)$136,069about $11,339/month · 56% higher than U.S. average
🔑 House price$816,600145% higher than U.S. average

Rent is higher than in 61% of U.S. cities. Household incomes are higher than in 85% of U.S. cities. A typical house costs about 6.0 years of household income, so buying is hard for most locals. Most homes (95.2%) are owned, so rentals can be hard to find.

How much money do I need?

To rent here comfortably, you should earn about $74,640 a year. That is $36 an hour at a full-time job.

Is rent cheaper than other New York cities?

Yes. Rent here is cheaper than in most of New York. It is number 130 of 343 cities from cheapest to most expensive.

New Hempstead
$1,866
Williamsville
$1,549
Lake Mohegan
$3,172
Country Knolls
$1,320
Albion
$972
Firthcliffe
$2,057
Malone
$907

How much do households earn in New Hempstead?

Under $25k
1.1%
$25k–50k
13.0%
$50k–100k
31.0%
$100k–150k
27.8%
$150k+
26.2%

Share of households by yearly income. 54.0% of households earn $100,000 or more.

How expensive is New Hempstead overall?

Everyday prices in New York overall are 8% above the U.S. average (index 107.9, U.S. = 100).

Housing
122
Goods (food, clothes…)
107
Utilities
134
Other services
104
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for New Hempstead, so the New York figure is shown.

Taxes and bills in New Hempstead

🏛️ Property tax$10,000+a year · 1.22% of home value · U.S. $3,119
⚡ Electric bill$273a month (typical) · U.S. $156

Life in New Hempstead

Commute to work28.7 minU.S.: 26.4 min
College degree46.6%U.S.: 35.7%
Own their home95.2%U.S.: 65.2%
Below poverty line12.2%U.S.: 12.5%
Unemployment5.5%U.S.: 5.2%

Is it cheaper to rent or buy in New Hempstead?

Renting is cheaper right now: about $3,800 a month less.

Renting
$1,866
Owning
$5,666

Owning assumes a typical $816,600 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $81,660 for the down payment.

Frequently asked questions

What is the average rent in New Hempstead, NY?

Renting in New Hempstead costs a median of about $1,866 a month in 2026, including utilities. The New York median is $2,177.

How much do I need to make to live in New Hempstead?

To keep rent under 30% of income, you need about $74,640 a year, or $36 an hour at a full-time job.

Is New Hempstead cheap or expensive?

New Hempstead is rated Cheap: rent takes 16.5% of the typical household income of $136,069. It ranks 130th cheapest of 343 New York cities we track.

How much are property taxes in New Hempstead?

The median homeowner in New Hempstead pays $10,000+ a year in property taxes, about 1.22% of the median home value.

Is New Hempstead more expensive than the national average?

Overall prices in New York are 8% above the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in New Hempstead?

The median home value in New Hempstead is $816,600, about 6.0 times the typical yearly household income.

5,472 people live in New Hempstead. Numbers are typical (middle) values.