The typical owner-occupied home in Oyster Bay is worth about $695,500, 64% above the New York median of $423,800 and 2.1 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 1.44% of their home's value, lower than the New York rate of 1.55%. The median household earns $111,264 a year, so the median home costs 6.3 times the median income (4.9 times for New York). 58% of occupied homes here are lived in by their owners, and 56% of those owners still have a mortgage.
Oyster Bay at a glance
| Oyster Bay | New York | U.S. | |
|---|---|---|---|
| Median home value | $695,500 | $423,800 | $332,700 |
| Median property tax paid per year | $10,001 | $6,582 | $3,119 |
| Property tax as a share of value | 1.44% | 1.55% | 0.94% |
| Median household income | $111,264 | $85,974 | $80,734 |
| Homes lived in by their owners | 58% | 54% | 65% |
| Owner homes with a mortgage | 56% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 31.3% | 22.5% | 21.0% |
| Median rent | $2,225 | $1,621 | $1,413 |
| Rent as a share of renters' income | 33.2% | 31.2% | 30.6% |
| Median year homes were built | 1957 | 1959 | 1980 |
| Vacant homes | 2.5% | 10.0% | 10.1% |
| Population | 7,308 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Oyster Bay
At this week's average 30-year rate of 7.11%, buying the median Oyster Bay home of $695,500 with 20% down costs about $4,867 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $6,026, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $208,600 for the 20%-down payment. That payment is 52% of the median Oyster Bay household income of $111,264; at that income and 20% down, the 28% guideline points to a home of about $371,000.
The median rent here is $2,225 a month, so owning the median home costs about $2,642 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $139,100 |
|---|---|
| Loan amount | $556,400 |
| Principal and interest | $3,743 |
| Property taxes (1.44% a year) | $835 |
| Homeowners insurance (our estimate, 0.5% a year) | $290 |
| PMI | $0 |
| Total per month | $4,867 |
Change the numbers in the calculator
| Down payment | $24,342 |
|---|---|
| Loan amount | $682,903 |
| Principal and interest | $4,594 |
| Property taxes (1.44% a year) | $835 |
| Homeowners insurance (our estimate, 0.5% a year) | $290 |
| FHA mortgage insurance | $308 |
| Total per month | $6,026 |
Change the numbers in the calculator
Questions about home buying in Oyster Bay
What is the median home value in Oyster Bay?
About $695,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Oyster Bay?
Homeowners pay a median $10,001 a year, which is about 1.44% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Oyster Bay?
For the median home with 20% down at 7.11%, the payment is about $4,867 a month. Keeping that under 28% of gross income takes about $208,600 a year.
More about Oyster Bay
- Mortgage Refinance in Oyster Bay
- Debt Relief in Oyster Bay
- Home Equity Loans in Oyster Bay
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data