The typical owner-occupied home in Shelter Island Heights is worth about $1,157,200, 2.7 times the New York median of $423,800 and 3.5 times the national median of $332,700. Owners pay a median $7,133 a year in property taxes, about 0.62% of their home's value, lower than the New York rate of 1.55%. The median household earns $113,091 a year, so the median home costs 10.2 times the median income (4.9 times for New York). 100% of occupied homes here are lived in by their owners, and 31% of those owners still have a mortgage.
Shelter Island Heights at a glance
| Shelter Island Heights | New York | U.S. | |
|---|---|---|---|
| Median home value | $1,157,200 | $423,800 | $332,700 |
| Median property tax paid per year | $7,133 | $6,582 | $3,119 |
| Property tax as a share of value | 0.62% | 1.55% | 0.94% |
| Median household income | $113,091 | $85,974 | $80,734 |
| Homes lived in by their owners | 100% | 54% | 65% |
| Owner homes with a mortgage | 31% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $3,420 | $2,555 | $1,963 |
| Those costs as a share of the owners' income | 27.8% | 22.5% | 21.0% |
| Median rent | – | $1,621 | $1,413 |
| Median year homes were built | 1984 | 1959 | 1980 |
| Vacant homes | 65.4% | 10.0% | 10.1% |
| Population | 1,230 | 19,852,366 | 334,922,499 |
What a typical home costs per month in Shelter Island Heights
At this week's average 30-year rate of 7.11%, buying the median Shelter Island Heights home of $1,157,200 with 20% down costs about $7,308 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $9,422, 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 $313,187 for the 20%-down payment. That payment is 78% of the median Shelter Island Heights household income of $113,091; at that income and 20% down, the 28% guideline points to a home of about $418,000.
| Down payment | $231,440 |
|---|---|
| Loan amount | $925,760 |
| Principal and interest | $6,228 |
| Property taxes (0.62% a year) | $598 |
| Homeowners insurance (our estimate, 0.5% a year) | $482 |
| PMI | $0 |
| Total per month | $7,308 |
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| Down payment | $40,502 |
|---|---|
| Loan amount | $1,136,240 |
| Principal and interest | $7,644 |
| Property taxes (0.62% a year) | $598 |
| Homeowners insurance (our estimate, 0.5% a year) | $482 |
| FHA mortgage insurance | $698 |
| Total per month | $9,422 |
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Questions about home buying in Shelter Island Heights
What is the median home value in Shelter Island Heights?
About $1,157,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Shelter Island Heights?
Homeowners pay a median $7,133 a year, which is about 0.62% 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 Shelter Island Heights?
For the median home with 20% down at 7.11%, the payment is about $7,308 a month. Keeping that under 28% of gross income takes about $313,187 a year.
More about Shelter Island Heights
- Mortgage Refinance in Shelter Island Heights
- Debt Relief in Shelter Island Heights
- Home Equity Loans in Shelter Island Heights
- 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