Penfield appreciation rates and housing market information

Penfield housing market information

With 19,713 people, 7,629 houses or apartments, and a median cost of homes of $209,557, Penfield real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Penfield, accounting for 75.41% of the town's housing units. Other types of housing that are prevalent in Penfield include row houses and other attached homes (10.43%), large apartment complexes or high rise apartments (9.70%), and a few duplexes, homes converted to apartments, or other small apartment buildings (4.10%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Penfield. Owner-occupied housing accounts for 81.78% of Penfield's homes, and 70.33% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Penfield built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Penfield built from 1940-1969 (31.20%). A lesser amount of the housing stock also hails from 1939 and earlier (8.29%), and some were built from 1995 and later (8.29%).

Penfield home appreciation rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Penfield, where house values have increased just 39.35%, which is an average annual increase of 3.93%. NeighborhoodScout's data show that in the latest quarter, Penfield house values appreciated 0.84%, which is an annualized rate of 3.36%. This rate is lower than the appreciation rate found in 40% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Penfield home appreciation rates, at 2.21%, have been at or slightly above the national average. In the latest quarter, Penfield's appreciation rate has been 0.84%, which annualizes to a rate of 3.36%.

Relative to New York, our data show that Penfield's latest annual appreciation rate is higher than 65% of the other cities and towns in New York.