The story of this market
The typical home in ZIP 10016 sells for about $988,000, or $1,350 per square foot.
Prices are roughly flat from a year ago (+0.8%), a market in balance. Homes take about 76 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $3,433 a month.
ZIP 10016 — New York
The 10016 housing market remains neutral, characterized by high median listing prices and a stable year-over-year value growth of 0.8%. Demand is supported by a highly educated, professional demographic, though high interest rates and inventory levels have kept the market balanced. Rental demand remains robust, with median rents holding steady at approximately $5,315 per month.
This ZIP is ideal for young professionals and commuters who prioritize proximity to Midtown employment hubs and urban amenities, as well as investors seeking stable, high-demand rental assets.
Median prices moved up 0.8% year over year.
Homes spend a median of 76 days on market with 6.0 months of supply — a balanced-paced market.
12% of listings have cut prices · homes sell at 97% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.1% · poverty 10.8% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 0.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 1.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 10016, New York County, NY
Crime trends in the Murray Hill and Kips Bay areas of 10016 generally mirror broader Manhattan patterns, with property-related offenses being more common than violent crime. The area is considered relatively safe for a high-density urban environment.
The ZIP is served by the New York City Department of Education, featuring a mix of highly-rated public schools and specialized programs, though access is highly competitive.
The area faces standard urban risks, including potential for localized flooding during extreme weather events; property insurance premiums are influenced by high-density building construction and regional climate exposure.
Economic momentum is driven by proximity to the Midtown Manhattan business core, with ongoing redevelopment of older residential stock and high-end mixed-use projects.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. City (New York, New York) — NYC Real Property Tax: Tax is calculated by multiplying the Taxable Billable Assessed Value by the class-specific tax rate set annually by the City Council. For Fiscal Year 2026, rates are: Class 1 (19.843%), Class 2 (12.439%), Class 3 (11.108%), and Class 4 (10.848%).
Residents benefit from exceptional transit access, including the 6 train, multiple bus lines, and proximity to Grand Central Terminal for regional rail connections.
The area features proximity to the East River Esplanade, St. Vartan Park, and numerous dining and shopping corridors along Third and Lexington Avenues.
The rental market is characterized by high demand and low vacancy rates, with a significant presence of long-term professional renters and limited short-term rental availability due to strict city regulations.
The economy is anchored by the Midtown Manhattan financial, legal, and corporate services sectors, with a high concentration of professional service firms.
The area is highly walkable and served by an extensive network of subway lines, buses, and proximity to major transit hubs like Grand Central.
Development is largely focused on the modernization of existing high-rise residential buildings and selective mixed-use infill projects.
The New York City Department of Finance assesses properties based on market value and classification, with specific tax caps for certain residential classes.
Parcels are subject to standard New York City municipal services, including city-wide school and utility districts.
Property insurance costs are reflective of high-density urban construction and the specific flood zone designations near the East River.
New York is a judicial foreclosure state, requiring court intervention for all foreclosure proceedings.
New York requires a standard property condition disclosure statement, though sellers may opt to pay a credit in lieu of providing the disclosure.
Data retrieved from Census Reporter and ACS 2024 ZCTA tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- American Dream4.56.3 mi
- DreamWorks Water Park4.36.2 mi
- Nickelodeon Universe Theme Park4.56.3 mi
- Area 53 - Adventure Park4.53.8 mi
- Color Factory NYC4.42 mi
- American Dream4.56.3 mi
- MetLife Stadium4.56.7 mi
- Madison Square Garden4.70.7 mi
- Yankee Stadium4.76.4 mi
- Barclays Center4.54.5 mi
- Times Square4.70.8 mi
- The Metropolitan Museum of Art4.82.4 mi
- Rockefeller Center4.70.8 mi
- Central Park4.82.6 mi
- Brooklyn Bridge4.83 mi
- The Metropolitan Museum of Art4.82.4 mi
- Rockefeller Center4.70.8 mi
- Empire State Building4.70.3 mi
- The Museum of Modern Art4.61 mi
- American Museum of Natural History4.62.4 mi
- Central Park4.82.6 mi
- 9/11 Memorial & Museum4.83 mi
- Bryant Park4.70.5 mi
- The High Line4.71.3 mi
- The Battery4.63.6 mi
- Pier 26 at Hudson River Park4.82.5 mi
- Pier 13 Hoboken4.52.2 mi
- Skyport Marina4.20.9 mi
- Pier 814.51.5 mi
- Liberty Landing Marina4.64.1 mi
- Van Cortlandt Park Golf Course4.310.8 mi
- 21 Golf Range Powered by Toptracer4.56.9 mi
- Forest Park Golf Course46.9 mi
- Puttery4.71.5 mi
- Dyker Beach Golf Course4.19.3 mi
- American Dream4.56.3 mi
- Chelsea Market4.61.4 mi
- Macy's4.40.5 mi
- The Mills at Jersey Gardens4.511.7 mi
- Hudson Yards4.71.2 mi
- Newark Liberty International Airport3.711.1 mi
- LaGuardia Airport4.15.9 mi
- Westchester County Airport426.3 mi
- Teterboro Airport4.48.8 mi
- Republic Airport4.529.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A popular local green space offering playgrounds and sports courts.
Provides walking and cycling paths along the riverfront.
A historic landmark and cultural institution located within the ZIP.
Key-figure check: median price corroborated by the published ten-year series (2024) (within 12.5%).