Merrick, New York Housing Market Prices
Merrick Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 5% below the New York median$450,000
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Median rent 80% above the New York median$2,915
Housing Market Overview
| Metric | Merrick | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $450,000 | $471,885 | $248,835 |
| Price Trend (Annual %) | 1.1% | 7.1% | 7.5% |
| Median Gross Rent | $2,915 | $1,621 | $1,407 |
| Rent Trend (Annual %) | 3.9% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Merrick is about 5% lower than in New York. Rent is about 80% higher than the New York average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Merrick, up about 1.1% and 3.9% a year respectively. Rent is changing faster.
Median rent in Merrick rose about 37.9% between 2015 and 2024, from $2,114 to $2,915. Over the same span, rent in New York rose about 43.2%.
Affordability
On average, housing unit costs 2.5 yearly household incomes in Merrick.
Buying the median-priced home in Merrick costs roughly 12.9 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Merrick. The price-to-rent ratio in New York is about 24.3.
| Metric | Merrick | New York Avg | US Average |
|---|---|---|---|
| Median Home Price | $450,000 | $471,885 | $248,835 |
| Median Household Income | $181,390 | $86,556 | $80,455 |
| Price-to-Income Ratio | 2.5 | 5.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Merrick fell about 4.3%, while median household income rose about 45.9% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Merrick | New York Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 96.2% | 48.8% | 58.5% |
| Rental Rate | 3.4% | 41.1% | 31.2% |
| Vacancy Rate | 0.4% | 10.1% | 10.2% |
| Median Tenure (years) | 21.0 | 17.0 | 15.0 |
| Median Year Moved In | 2005 | 2009 | 2011 |
Merrick has a homeownership rate of 96.2%, higher than the New York average of 48.8%. Its housing vacancy rate is 0.4%, compared with 10.1% in New York.
Housing Stock
| Metric | Merrick | New York Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.96 people | 2.49 people | 2.53 people |
| Median Structure Built Year | 1953 | 1960 | 1978 |
| Median Number of Rooms | 7.5 | 5.0 | 5.5 |
The typical housing unit in Merrick was built around 1953. On average, 3.0 people live in a home with about 7.5 rooms, staying for about 21.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Merrick, New York.
What is the median home price in Merrick, New York?
The median home price in Merrick, New York is $450,000, lower than the New York average of $471,885.
What is the average home price in Merrick, New York?
The typical home price in Merrick, New York, reported as the median sale price, is $450,000. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Merrick, New York?
The median gross rent in Merrick, New York is $2,915 per month, higher than the New York average of $1,621.
What was the median gross rent in Merrick in 2020?
In 2020, the median gross rent in Merrick, New York was $1,966 per month.
What is the price-to-rent ratio in Merrick, New York?
The price-to-rent ratio in Merrick, New York is about 12.9, meaning it would take roughly 12.9 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Merrick.
Are home prices or rent rising faster in Merrick, New York?
Both home prices and rent are rising in Merrick, up about 1.1% and 3.9% a year respectively. Rent is changing faster.
What is the homeownership rate in Merrick, New York?
96.2% of households in Merrick, New York own their home, higher than the New York average of 48.8%.
What is the vacancy rate in Merrick, New York?
The housing vacancy rate in Merrick, New York is 0.4%, lower than the New York average of 10.1%.
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