ZIP Code 11416 Housing Market

📝 Local Market Notes

The housing market in ZIP code 11416, located in Kings County, New York, exhibits a volatile yet recovering price trajectory over the recent five-year period. The FHFA Home Price Index (HPI) indicates a significant appreciation from 322.72 in 2021 to a peak of 416.21 in 2023. Following a sharp correction in 2024, where the index dropped to 380.38, the market has stabilized with a 2025 HPI of 399.52. This pattern suggests a sub-market that experienced aggressive valuation adjustments mid-decade before settling into a more moderate growth phase, reflecting broader regional shifts in housing affordability and inventory dynamics. In terms of relative performance, ZIP 11416 demonstrates superior momentum compared to both the county and state averages. The ZIP’s year-over-year growth of 5.03% outpaces the Kings County rate of 4.63% and the New York State rate of 3.55%. This positive divergence signals that local demand in 11416 is currently stronger than the broader metropolitan trends, potentially driven by specific neighborhood amenities or relative value compared to adjacent areas. Nearby ZIPs, such as 11224 with a 13.32% increase, indicate a highly active regional market, but 11416 maintains a steady, above-average appreciation pace without the extreme volatility seen in neighboring codes. The sub-market character of 11416 is defined by a renter-heavy demographic structure, with an owner occupancy rate of only 29.5% in Kings County. The median home value of $905,000 positions the area as a mid-to-upper-tier market, well above the national entry-level threshold. Given the 7.40% mortgage rate, the high median gross rent of $1,833, and the substantial home values, this ZIP code functions primarily as an established residential area for higher-income households rather than a first-time buyer zone. Prospective buyers should anticipate competitive pricing and significant entry costs, while residents should note that the market’s resilience and above-average growth rates suggest sustained demand for housing in this specific Kings County sector.

Based on FHFA House Price Index data.