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Islip Terrace

Learn about the people, housing, costs and businesses in Islip Terrace, New York

Median Home$519,200
Median Rent$2,640/month
Population5,168
Leading IndustriesPublic Administration · Arts, Food & Hospitality35% public administration
Home Value Growth⬆⬆+17.2% over 2 years
Young Adults29% of residentsslightly above average
Homeowners92% of occupied units
NotableHigh Incomes$155k/year · top 3% nationally
Islip Terrace
NY

Frequently Asked Questions

What are today's mortgage rates in Islip Terrace?

As of today, the 30-year fixed mortgage rate for Islip Terrace is approximately 6.832% (6.866% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Islip Terrace?

The median home value in Islip Terrace is $519k. The median monthly rent is $2,640. Annual property taxes average $10k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Islip Terrace?

Home values in Islip Terrace have increased 17.2% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Islip Terrace?

Based on a typical all-in ownership cost of $1,970/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $84k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Islip Terrace is $155k/year.

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What industries drive the economy in Islip Terrace?

The largest employment sectors in Islip Terrace are public administration (35%) and retail (12%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.