Poughkeepsie appreciation rates and housing market information
Poughkeepsie housing market information
With 32,790 people, 12,400 houses or apartments, and a median cost of homes of $214,759, Poughkeepsie real estate prices are well above average cost compared to national prices.
Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Poughkeepsie, accounting for 36.87% of the city's housing units. Other types of housing that are prevalent in Poughkeepsie include large apartment complexes or high rise apartments (31.72%), single-family detached homes (26.44%), and a few row houses and other attached homes (4.47%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
People in Poughkeepsie primarily live in small (one, two or no bedroom) units, chiefly found in duplexes, homes converted to apartments or other small apartment buildings. Poughkeepsie has a mixture of owner-occupied and renter-occupied housing.
The housing in Poughkeepsie was primarily built before 1939 (43.92%), making the housing stock in Poughkeepsie some of the oldest overall in America, although there is a range of ages of homes in Poughkeepsie. The next most important housing age is between 1940-1969 (30.07%), followed by between 1970-1999 (21.80%). There's also some housing in Poughkeepsie built between 2000 and later (4.22%).
Vacant housing appears to be an issue in Poughkeepsie. Fully 13.14% of the housing stock is classified as vacant. Left unchecked, vacant Poughkeepsie homes and apartments can be a drag on the real estate market, holding Poughkeepsie real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Poughkeepsie home appreciation rates
Appreciation rates for homes in Poughkeepsie have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 13.09%, which ranks in the top 30% nationwide. This equates to an annual average Poughkeepsie house appreciation rate of 1.24%.
NeighborhoodScout's data show that during the latest twelve months, Poughkeepsie's appreciation rate, at 1.16%, has been at or slightly above the national average. In the latest quarter, Poughkeepsie's appreciation rate has been 1.17%, which annualizes to a rate of 4.77%.
Relative to New York, our data show that Poughkeepsie's latest annual appreciation rate is higher than 80% of the other cities and towns in New York.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Poughkeepsie differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Poughkeepsie - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Poughkeepsie real estate investment or home purchase decisions.