Armonk NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Armonk, NY Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Armonk Housing Market Information

With a population of 4,469, 1,458 total housing units (homes and apartments), and a median house value of $1,297,197, Armonk house prices are not only among the most expensive in New York, Armonk real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Armonk, accounting for 79.72% of the town's housing units. Other types of housing that are prevalent in Armonk include large apartment complexes or high rise apartments ( 9.07%), row houses and other attached homes ( 7.37%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.84%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Armonk. Owner-occupied housing accounts for 85.85% of Armonk's homes, and 60.35% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Armonk built from 1970 to 1999 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 Armonk built between 2000 and later ( 28.14%). A lesser amount of the housing stock also hails from between 1940-1969 ( 27.47%). There's also some housing in Armonk built before 1939 ( 13.76%).

Vacant housing appears to be an issue in Armonk. Fully 11.21% of the housing stock is classified as vacant. Left unchecked, vacant Armonk homes and apartments can be a drag on the real estate market, holding Armonk 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.

Armonk Home Appreciation Rates

Appreciation rates for homes in Armonk have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 33.69%, which ranks in the top 40% nationwide. This equates to an annual average Armonk house appreciation rate of 2.95%.

NeighborhoodScout's data show that during the latest twelve months, Armonk's appreciation rate, at 4.88%, has been at or slightly above the national average. In the latest quarter, Armonk's appreciation rate has been 1.04%, which annualizes to a rate of 4.22%.

Relative to New York, our data show that Armonk's latest annual appreciation rate is lower than 50% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$1,297,197

Armonk, NY HOME PRICES

Value Range
> $1,168,000 45.2
$876,001 - $1,168,000 27.1
$584,001 - $876,000 18.9
$467,001 - $584,000 2.5
$350,001 - $467,000 1.1
$233,001 - $350,000 0.0
$117,001 - $233,000 4.1
$59,001 - $117,000 0.6
$0 - $59,000 0.6

Very High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
0.665693430656934 2.33333333333333

Number Of Homes And Apartments:
1,458

Armonk Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
93.56% 3.32%
7
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,800 / per month

Homeownership Rate

Homeownership
Owners 85.85
Renters 14.15
Vacant 11.21

Housing Market Details

 

Age of Homes

AGE OF Armonk HOMES
2000 or Newer 28.1
1970 - 1999 30.6
1940 - 1969 27.5
1939 or Older 13.8

Types of Homes

TYPE OF Armonk HOMES
Single-Family 79.7
Townhomes 7.4
Small Apt. Buildings 3.8
Apt. Complexes 9.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Armonk HOMES
No Bedroom 5.24
1 Bedroom 3.53
2 Bedrooms 9.68
3 Bedrooms 33.37
4 Bedrooms 26.98
5 or more bedrooms 21.19