Quick facts: Hempstead, NY

Quick Facts

115.3
Cost of Living
above US average
768,103
Population
2.6
Crime Rate per 1000
below US average
$108,000
Median Income
above US average
$650,000
Median House Price
above US average
$3279.14
Average Rent
above US average
10%
Poverty Rate
below US average
3.3%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $108,000.

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Income Needed to Buy

βœ— Stretch
$204k/year
Based on $650,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $204k vs median $108,000
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Income Needed to Rent

⚠ Stretch
$141k/year
Based on $3279.14/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $141k vs median $108,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Hempstead, NY

Hempstead, located in Nassau County on Long Island, New York, is a vibrant and diverse community known for its rich history and cultural significance. The town is one of the largest in New York and serves as a hub for various services and amenities. With a population of over 55,000 residents, Hempstead boasts a mix of residential areas, commercial centers, and recreational spaces. The town features several parks and recreational facilities, providing residents with opportunities for outdoor activities. Notable spots include Hempstead Lake State Park and Cradle of Aviation Museum, which celebrate local history and the aviation industry. Hempstead's community is characterized by its diversity, with a rich blend of cultures and traditions. This is reflected in the town's restaurants, shops, and community events. The vibrant downtown area offers a variety of dining options and local businesses. Transportation is convenient, with the Long Island Rail Road and several bus routes connecting Hempstead to Manhattan and surrounding areas. The town's proximity to Atlantic Beach and other coastal attractions adds to its appeal, making it a desirable place for both residents and visitors.

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