Three development projects are currently underway along the northern coast of Staten Island. In the Stapleton area, over 500 new housing units are being supplied, and a mixed-use development of up to 2,500 units at the New York Wheel and Empire Outlet site is expected to enter the city planning review process in the first half of 2026.

In the Midland Beach and South Beach areas, Urban Ecospaces is building 15 modular homes with flood prevention designs on land that was damaged by Hurricane Sandy, aiming for completion by 2026. Notably, the Stapleton project has allocated about 25% of the total units for families earning between 40% and 80% of the area median income.

Separately from these development updates, what is the current market price? According to DeFalco Realty, as of March 2026, the median sale price in Staten Island is $762,000, which is a 4.1% increase from the previous year. The industry predicts it will rise to between $780,000 and $795,000 by the end of the year.

Inventory has decreased by 26% to 29% compared to a year ago, with active listings hovering around 900, and the supply is at 2.6 months, significantly below the balanced market standard of 5 to 6 months. This situation favors sellers, but it also means buyers have fewer options. However, the average selling period has shortened from 72 days at the beginning of the year to around 41 to 50 days in the first half, indicating a faster transaction pace.

When viewing properties in neighborhoods with new developments, there are generally three things to check. First, determine whether the development is in the construction phase or the review phase. Projects in the review phase may take years before actual occupancy. Second, consider how the surrounding commercial areas and transportation will change once the development is completed. Third, assess whether the area is at risk of flooding and the associated insurance costs. Areas like Midland Beach, which have a history of flooding, may have significant flood insurance premiums relative to the sale price.

The Staten Island school district preferred by Korean families is around Tottenville or Annadale, and it is advisable to check the ratings on GreatSchools or Niche and verify the assigned school based on the address before signing a contract.

Families moving from other states to New York should consider that Staten Island's unique ferry commuting method and reliance on cars, along with the corresponding insurance structures, may differ from their previous residences. If considering rental investments, it is safer to reflect on the potential for limited rent increases due to future supply increases in areas with new developments when calculating cap rates and the 1% rule.

When calculating rental income, it is also important to consider Staten Island's low population density. The rental demand is not as dense as in Manhattan or Brooklyn, which may lead to longer vacancy periods than expected, so it is prudent to conservatively estimate vacancy rates when calculating cap rates.

If the purpose is for actual residence, it is advisable to check the distance to the ferry terminal and the traffic congestion times on the Staten Island Expressway during car commutes. It is also necessary to keep in mind the potential for increased traffic volume in the northern coastal areas where new developments are concentrated.

As of July 2026, the average interest rate for a 30-year fixed mortgage is around 6.6% according to Freddie Mac PMMS. Rather than rushing to buy due to expectations for development projects, it is safer to budget based on the total holding costs, including interest rates, insurance, and property taxes.

The combination of development news, low inventory, and shortened selling periods has created a market in Staten Island that has both favorable and challenging aspects. It is important to check and assess the development stage, insurance, and school district. This article is not investment or legal advice, and it is recommended to consult with a professional before making any actual contracts. The data is based on information from DeFalco Realty and NYCEDC from March to July 2026.