Elmont, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Elmont Neighborhoods Since 2000




Elmont, 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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Elmont Housing Market Information

With 33,660 people, 9,857 houses or apartments, and a median cost of homes of $440,789, real estate costs in Elmont are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New York communities.

Single-family detached homes are the single most common housing type in Elmont, accounting for 78.30% of the town's housing units. Other types of housing that are prevalent in Elmont include duplexes, homes converted to apartments or other small apartment buildings ( 15.69%), row houses and other attached homes ( 2.83%), and a few large apartment complexes or high rise apartments ( 2.82%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elmont. Owner-occupied housing accounts for 80.50% of Elmont's homes, and 68.50% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Elmont's housing was primarily built during this period, from the '40s through the '60s. A full 70.32% of the town's housing hails from this era. Other housing ages represented in Elmont include homes built before 1939 ( 15.81%) and housing constructed between 1970-1999 ( 9.95%). There's also some housing in Elmont built between 2000 and later ( 3.91%).

Elmont Home Appreciation Rates

Elmont's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Elmont during the period has been just -1.28%, which is lower than 70% of US communities.

Appreciation rates are so strong in Elmont that despite a nationwide downturn in the housing market, Elmont real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Elmont appreciation rates continue to be some of the highest in America, at 5.83%, which is higher than appreciation rates in 72.57% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Elmont. Elmont appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New York, our data show that Elmont'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 town. Individual neighborhoods within Elmont differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Elmont - 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 2000, to assist you in making the best Elmont real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$440,789

Elmont, NY HOME PRICES

Value Range
> $1,182,000 0.4
$886,001 - $1,182,000 0.6
$591,001 - $886,000 7.8
$473,001 - $591,000 27.1
$354,001 - $473,000 45.9
$236,001 - $354,000 13.4
$118,001 - $236,000 1.6
$59,001 - $118,000 1.6
$0 - $59,000 1.6

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
7.69951951248096 20.8754208754209

Number Of Homes And Apartments:
9,857

Elmont Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
72.52% 3.21% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,313 / per month

Homeownership Rate

Homeownership
Owners 80.50
Renters 19.50
Vacant 4.78

Housing Market Details

 

Age of Homes

AGE OF Elmont HOMES
2000 or Newer 3.9
1970 - 1999 9.9
1940 - 1969 70.3
1939 or Older 15.8

Types of Homes

TYPE OF Elmont HOMES
Single-Family 78.3
Townhomes 2.8
Small Apt. Buildings 15.7
Apt. Complexes 2.8
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Elmont HOMES
No Bedroom 1.97
1 Bedroom 4.51
2 Bedrooms 15.75
3 Bedrooms 35.80
4 Bedrooms 32.70
5 or more bedrooms 9.27