New Hempstead, NY
Population 5,431 · New York
About New Hempstead, NY
New Hempstead is a small town located in New York with a population of 5,431 residents according to the latest US Census Bureau American Community Survey data. The median household income is $131,293 per year, which is 75% above the national median of $75,149. The median age of 37.3 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in New Hempstead features a median home value of $707,300, which is 189% above the national median of $244,900. This places New Hempstead in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,409, 107% above the national average of $1,163/month. Of the 1,577 total housing units, 97% are owner-occupied (1,398 units) and 3% are renter-occupied (48 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Hempstead shows an unemployment rate of 5.3%, which is near the national rate of 3.7%. The poverty rate stands at 2.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in New Hempstead have an average one-way commute time of 29.9 minutes.
Education & Demographics
53.4% of New Hempstead residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 1.3% White, 0.0% Hispanic or Latino, 2.0% Black or African American, and 14.7% Asian residents, with 16.7% of the population being foreign-born.
Cost of Living in New Hempstead, NY
Compared to national averages, New Hempstead has a median household income of $131,293 (75% above the national median of $75,149). Home values average $707,300, which is 189% above the national median. Monthly rent at $2,409 is 107% above the US average of $1,163. Within New York, New Hempstead's income is 35% above the state average of $96,987, and home values are 83% above the state median of $387,181.
Why Live in New Hempstead, NY?
New Hempstead offers a strong local economy with a median household income of $131,293, well above the national average, and a well-educated community where 53.4% of residents hold a bachelor’s degree or higher, and a low poverty rate of 2.7%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $707,300. However, New Hempstead’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Hempstead has a population of 5,431 with a median age of 37.3 years. Compare New Hempstead with other cities to see how it stacks up, or explore all cities in New York.
Similar Cities Near New Hempstead
Cities in New York with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Williamsville | 5,430 | $106,250 | $242,800 | Compare |
| Fairport | 5,436 | $99,805 | $262,600 | Compare |
| North Hills | 5,419 | $196,938 | $1,212,900 | Compare |
| Hampton Manor | 5,448 | $105,504 | $223,300 | Compare |
| Malone | 5,466 | $59,489 | $103,500 | Compare |
| Blauvelt | 5,485 | $172,083 | $629,000 | Compare |
| Albion | 5,495 | $45,474 | $81,300 | Compare |
| Lake Mohegan | 5,566 | $160,741 | $483,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New York
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare New Hempstead With Other Cities
Frequently Asked Questions about New Hempstead
What is the population of New Hempstead, NY?
The population of New Hempstead, NY is 5,431 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New York.
What is the median household income in New Hempstead?
The median household income in New Hempstead, NY is $131,293 per year, which is 75% above the national median of $75,149.
What is the median home value in New Hempstead?
The median home value in New Hempstead, NY is $707,300, which is 189% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Hempstead?
The median monthly rent in New Hempstead, NY is $2,409, which is 107% above the national average of $1,163/month.
What is the unemployment rate in New Hempstead?
The unemployment rate in New Hempstead, NY is 5.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is New Hempstead, NY a good place to live?
New Hempstead offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 5,431 and a median age of 37.3, the city appeals to a broad range of residents.
How educated is New Hempstead, NY?
53.4% of residents in New Hempstead aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in New Hempstead?
Key cost-of-living indicators for New Hempstead, NY: median home value is $707,300 (189% above national), median rent is $2,409/month, and median household income is $131,293. The home-value-to-income ratio is 5.4x, a moderate figure by national standards.
What is the poverty rate in New Hempstead?
The poverty rate in New Hempstead, NY is 2.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is New Hempstead, NY?
New Hempstead's population is 1.3% White, 0.0% Hispanic or Latino, 2.0% Black or African American, 14.7% Asian, and 9.0% two or more races. 16.7% of residents are foreign-born.