Compare Hempstead, NY mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Hempstead.
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August 13, 2025
Below we provide helpful information on the real estate market, home prices and housing affordability in Hempstead. Understand how much you need to earn to afford a home in Hempstead, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Hempstead fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Hempstead is right for you.
The median home value for Hempstead, NY (Nassau County) is $683,020
Based on current mortgage rates and a 10% down payment, you need to make $142,489 per year to buy the median priced home in Hempstead
With this income, you could qualify for a $614,718 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Hempstead is $3,300
The median household income for Hempstead, NY (Nassau County) is $127,531
Based on this income, you can afford a home valued at approximately $611,320
The home price you can afford to buy based on household income in Hempstead is 90% of the median home value which means housing prices are expensive. Hempstead (Nassau County) ranks 55 out of 62 counties in New York and 2,915 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Hempstead, NY is expensive
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Hempstead (Nassau County) below.
Conforming loan limits for Hempstead, NY
FHA loan limits for Hempstead, NY