Farmingdale, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Farmingdale Neighborhoods Since 2000




Farmingdale, 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

Farmingdale Housing Market Information

With a population of 8,688, 3,359 total housing units (homes and apartments), and a median house value of $376,746, real estate costs in Farmingdale 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 Farmingdale, accounting for 50.35% of the village's housing units. Other types of housing that are prevalent in Farmingdale include large apartment complexes or high rise apartments ( 28.15%), duplexes, homes converted to apartments or other small apartment buildings ( 16.70%), and a few row houses and other attached homes ( 4.80%).

Dwellings in Farmingdale tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 51.52% of the homes in Farmingdale have two or fewer bedrooms.

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. Farmingdale's housing was primarily built during this period, from the '40s through the '60s. A full 45.42% of the village's housing hails from this era. Other housing ages represented in Farmingdale include homes built between 1970-1999 ( 22.99%) and housing constructed before 1939 ( 22.78%). There's also some housing in Farmingdale built between 2000 and later ( 8.81%).

Farmingdale Home Appreciation Rates

Farmingdale's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Farmingdale during the period has been just -1.14%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Farmingdale's appreciation rate, at 4.25%, has been at or slightly above the national average. In the latest quarter, Farmingdale's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New York, our data show that Farmingdale's latest annual appreciation rate is higher than 60% 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 village. Individual neighborhoods within Farmingdale differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Farmingdale - 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 Farmingdale real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$376,746

Farmingdale, NY HOME PRICES

Value Range
> $1,116,000 0.4
$837,001 - $1,116,000 1.5
$558,001 - $837,000 9.6
$446,001 - $558,000 23.3
$335,001 - $446,000 36.7
$223,001 - $335,000 13.8
$112,001 - $223,000 13.1
$56,001 - $112,000 0.2
$0 - $56,000 1.6

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
10.5297081917262 25.9259259259259

Number Of Homes And Apartments:
3,359

Farmingdale 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
55.32% 2.59% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,903 / per month

Homeownership Rate

Homeownership
Owners 68.81
Renters 31.19
Vacant 8.92

Housing Market Details

 

Age of Homes

AGE OF Farmingdale HOMES
2000 or Newer 8.8
1970 - 1999 23.0
1940 - 1969 45.4
1939 or Older 22.8

Types of Homes

TYPE OF Farmingdale HOMES
Single-Family 50.4
Townhomes 4.8
Small Apt. Buildings 16.7
Apt. Complexes 28.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Farmingdale HOMES
No Bedroom 1.03
1 Bedroom 24.11
2 Bedrooms 26.38
3 Bedrooms 28.96
4 Bedrooms 17.25
5 or more bedrooms 2.28