Renter percentages in Cold Spring Harbor have been relatively low, ranging from 2% to 7% between 2013 and 2022. Average rent prices showed an overall increasing trend, rising from $2,139 in 2013 to $2,233 in 2022, a 4.4% increase. However, rent prices fluctuated during this period, reaching a peak of $2,394 in 2018 before declining. The low renter percentages, coupled with the area's small population (2,998 in 2022), suggest a limited rental market in this predominantly owner-occupied community.

In 2023, the average home price in Cold Spring Harbor reached $1,566,215, showing a continued upward trend from previous years. The federal interest rate in 2023 was 5.02%, significantly higher than the near-zero rates seen in the early 2020s. As of 2024, the average home price has slightly decreased to $1,564,161, while the federal interest rate has further increased to 5.33%. These higher interest rates may impact future homeownership trends and property values in the area.

Looking ahead, predictive models suggest that average home prices in Cold Spring Harbor may continue to rise moderately over the next five years, potentially reaching around $1.7 million by 2029. Average rent prices are also expected to increase, possibly surpassing $2,500 per month within the same timeframe. However, these projections are subject to various economic factors and market conditions.

In summary, Cold Spring Harbor (11724) is characterized by consistently high homeownership rates and substantial average home prices. The area has experienced significant growth in property values over the past decade, with a strong correlation between low interest rates and high homeownership percentages. While the rental market remains small, both home prices and rent rates have shown an overall upward trend, reflecting the desirability and stability of this community.