ZIP Code · NY

ZIP 10940

Part of Middletown, NY

Pop. 53,611·Orange County·202nd most expensive ZIP in New York

Median rent (all units)

$2,456/mo

Year-over-Year

+5.7%

Month-over-Month

Stable

vs US Median

+$524

Reported rents

Stable (Monthly)

Be the first to discuss 10940 rents ↓

Most AffordableMost Expensive

ZIP 10940 · $2,456

More expensive than 79% of US ZIP codes · National median $1,932/mo

Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,410

1 BR

$1,600

2 BR

$2,050

3 BR

$2,600

4 BR+

$2,790

Research median

$2,050/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 10940 is at its highest level since Zillow's records here began in February 2023.

Past year vs. the rest of New York

Rent in ZIP 10940 changed +5.7% over the year to September 2026. Across the 251 New York ZIP codes Zillow tracks, the typical change was +5.6%.

Recent direction

Rent has risen 4 months in a row, and rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($87,080) is $2,177 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,050); a 3-bedroom is $2,600.

Cheaper nearby

ZIP 12771, 9 miles away, rents for 27% less ($1,788/mo), about $8,000 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 10940. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$29,472/yr

At $2,456/mo median

Location

CityMiddletown

StateNY

CountyOrange County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (5.7% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+5.7% YoY, +0.0% MoM), not inventory.

Demographics

Who lives here

ZIP 10940 (Middletown, NY) is majority owner-occupied, 23.6% of residents hold a bachelor's degree or higher.

Population

53,611

Median income

$87,080

Median age

38.1

Renters

38.4%

Age distribution

24.8%

21.5%

27.4%

14.3%

Under 1824.8%

18–3421.5%

35–5427.4%

55–6411.9%

65+14.3%

Gender

50%

Male50%

Female50%

Race & ethnicity

42.5%

22.5%

35.2%

White42.5%

Black22.5%

Hispanic35.2%

Asian3.8%

Education (25+)

13.2%

32.1%

31.1%

23.6%

No HS diploma13.2%

HS diploma32.1%

Some college31.1%

Bachelor's+23.6%

Housing tenure

61.6%

38.4%

Owner61.6%

Renter38.4%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How ZIP 10940 in Middletown, NY has changed in 5 years

Rent

$2,173 → $2,456

up 13.0%

Income

$70,407 → $87,080

up 23.7%

Population

50,932 → 53,611

up 5.3%

Renter share

37% → 38.4%

+1.4 pts

Bachelor's+

22.7% → 23.6%

+0.9 pts

Median age

39.6 → 38.1

-1.5 yrs

Five years ago, renters in ZIP 10940 in Middletown, NY paid around $2,173 a month. That figure now sits near $2,456, up 13.0% from the 2023 baseline. Household income in the area moved from $70,407 to $87,080 across the same window, up 23.7% versus 2021. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show ZIP 10940 in Middletown, NY adding about 2,679 residents over the five-year window, up 5.3% on net. Reading these numbers side by side helps frame whether current listings in ZIP 10940 in Middletown, NY look reasonable against where the market sat half a decade ago.

Community

Discussions about ZIP 10940

No discussions yet. Start the conversation.

Local insights

Tips for renters in ZIP 10940

About renting in ZIP 10940

Last updated: October 17, 2026

ZIP code 10940 covers Middletown, NY. The median rent here is $2,456/mo as of October 2026. A 1-bedroom rents for a median of $1,600/mo. A 2-bedroom rents for a median of $2,050/mo.

At 34% of local median household income ($87,080/yr), ZIP 10940 ranks as moderate compared to the national benchmark of 30%. Rents have increased 5.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 10940?

To keep rent at or below 30% of gross income, you would need to earn at least $98,000/year (about $47/hour full-time) to afford the median rent of $2,456/mo in ZIP 10940. The local median household income is $87,080/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 10940?

Rent in ZIP 10940 has risen 5.7% over the past year as of September 2026. That is the highest level since Zillow's records here began in February 2023.

How does ZIP 10940 compare to other ZIPs in New York?

ZIP 10940 is in the middle among New York ZIP codes for rent, ranking #202 of 334 at $2,456/mo. Over the year to September 2026, rent in ZIP 10940 changed +5.7%, against a typical +5.6% across the 251 New York ZIP codes Zillow tracks.