11030, Manhasset, NY

The 11030 zip code of Manhasset, NY has a median home value of $1,073,000 and a median home equity value of $539,000. The 11030 zip code has a population of 9,812 and an average household size of 2.6 people. Approximately 54% of the households in the 11030 zip code own their homes outright while 46% are occupied by renters. The average household size in the 11030 zip code is 2.6 people which is lower than the national average of 3.65 people.

The 11030 zip code has a low homeownership rate when compared to other ZIP codes in Nassau County with only 54% owning their homes outright which is lower than the countywide homeownership rate of 63%. This may be due to the high cost of housing in Manhasset as well as its relatively small population size which may limit opportunities for individuals to purchase homes outright. Renters make up 46% of households in the 11030 zip code which is higher than the countywide percentage of renters (41%). This may be due to the high cost of housing as well as limited opportunities for individuals to purchase homes in Manhasset.

Despite having a relatively low homeownership rate, renters have been able to benefit from rising home prices over time as they have been able to increase their equity within their homes over time. Home prices have increased by 8% since 2013 while wages have only increased by 3%. This suggests that home ownership may not be an ideal option for all residents within the 11030 zip code and that renting may be a more viable option for some residents over time if wages continue to stagnate or decline relative to prices for housing units within this area