Franklin Square, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Franklin Square Neighborhoods Since 2000




Franklin Square, 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

Franklin Square Housing Market Information

With 29,728 people, 9,667 houses or apartments, and a median cost of homes of $508,281, Franklin Square house prices are not only among the most expensive in New York, Franklin Square 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 Franklin Square, accounting for 81.24% of the town's housing units. Other types of housing that are prevalent in Franklin Square include duplexes, homes converted to apartments or other small apartment buildings ( 13.83%), large apartment complexes or high rise apartments ( 3.04%), and a few row houses and other attached homes ( 1.36%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Franklin Square. Owner-occupied housing accounts for 82.37% of Franklin Square's homes, and 69.84% 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. Franklin Square's housing was primarily built during this period, from the '40s through the '60s. A full 74.78% of the town's housing hails from this era. Other housing ages represented in Franklin Square include homes built before 1939 ( 14.62%) and housing constructed between 1970-1999 ( 9.70%).

Franklin Square Home Appreciation Rates

Real estate appreciation rates in Franklin Square's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.42% during the period.

NeighborhoodScout's data show that during the latest twelve months, Franklin Square's appreciation rate, at 4.60%, has been at or slightly above the national average. In the latest quarter, Franklin Square's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New York, our data show that Franklin Square's latest annual appreciation rate is higher than 70% 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 Franklin Square differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Franklin Square - 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 Franklin Square real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$508,281

Franklin Square, NY HOME PRICES

Value Range
> $1,164,000 0.1
$873,001 - $1,164,000 0.8
$582,001 - $873,000 20.0
$466,001 - $582,000 39.6
$349,001 - $466,000 30.7
$233,001 - $349,000 5.3
$116,001 - $233,000 1.2
$58,001 - $116,000 0.5
$0 - $58,000 1.7

Very High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
5.74241181296144 16.4983164983165

Number Of Homes And Apartments:
9,667

Franklin Square 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
74.76% 3.29% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,132 / per month

Homeownership Rate

Homeownership
Owners 82.37
Renters 17.63
Vacant 5.12

Housing Market Details

 

Age of Homes

AGE OF Franklin Square HOMES
2000 or Newer 0.9
1970 - 1999 9.7
1940 - 1969 74.8
1939 or Older 14.6

Types of Homes

TYPE OF Franklin Square HOMES
Single-Family 81.2
Townhomes 1.4
Small Apt. Buildings 13.8
Apt. Complexes 3.0
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Franklin Square HOMES
No Bedroom 1.90
1 Bedroom 4.56
2 Bedrooms 15.63
3 Bedrooms 41.19
4 Bedrooms 28.65
5 or more bedrooms 8.06