Is Staten Island Still the Most Affordable NYC Borough at 7% Mortgage Rates?

Nov 2, 2026

Yes. In April 2026, Staten Island's median home sale price was about $699,000, compared with $795,000 citywide, according to PropertyShark. A local brokerage also reported that Brooklyn's median topped $900,000 in February. At 7.28% rates, that gap means a noticeably lower monthly payment on Staten Island.

How do the prices compare?

The sources use different methods and months, so treat this as a rough comparison.

What does the gap mean for a monthly payment?

Assuming 20% down and a 30-year fixed loan at 7.28%, principal and interest on a $699,000 home is about $3,826 a month. On a $900,000 home it is about $4,926. That is roughly $1,100 a month less on Staten Island before taxes and insurance, based on our calculations.

Where are the most affordable Staten Island neighborhoods?

PropertyShark's April 2026 neighborhood medians ranged widely. The lowest included Tompkinsville at $369,000, Graniteville at $495,000, and Westerleigh at $535,000. The highest included Woodrow at $1,045,000, Annadale at $870,000, and Tottenville at $797,500. Neighborhood medians can swing from month to month because each one covers few sales, so confirm current prices with your agent.

Is it still affordable if rates stay high?

Relatively, yes, but affordable doesn't mean cheap. Rates rose about a point from April to October, which cut borrowing power on the island just as it did everywhere else. Staten Island's advantage is that its price level starts lower. The North Shore has been described as the island's best value per square foot, with the fastest ferry commute to Manhattan.

Frequently asked questions

Is Staten Island the cheapest NYC borough to buy in? Local market reports describe it as the most affordable borough by a wide margin, and its median price is below the citywide figure.

What is the cheapest part of Staten Island? North Shore neighborhoods such as Tompkinsville and Stapleton showed some of the lowest medians in spring 2026.

How much do I need for a down payment? It depends on the loan. A 20% down payment on a $699,000 home is about $140,000. Many buyers put down less and pay mortgage insurance. Ask a lender about your options.

How does the monthly cost compare with renting? One broker put the median Staten Island rent at about $2,850 a month. Owning costs more per month at these rates, but you build equity and your principal-and-interest payment is fixed.

Want to see homes in your price range? Call DiTommaso Real Estate at 718-667-8000.