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In Shelter Island 11% of the housing is rented out compared to 89% of homes are owned, according to the most recent Census Bureau estimates. none of Shelter Island's apartments are found in large buildings of 50 units or more, all are located in smaller apartment complexes with less than 50 units, and none are single-family rentals.

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Shelter Island are about 0 years old, on average. Of these, none have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 0 stories. About none of the rental communities here are low-rise, garden-style communities, none are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

Rental apartments in Shelter Island come in a range of sizes and floorplans. Studio apartments represent 0% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 0% of the total apartments in the city, while 2-bedroom floorplans represent around 0% of all rentals in Shelter Island. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.