Garden City, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Garden City Neighborhoods Since 2000




Garden City, 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

Garden City Housing Market Information

With a population of 22,612, 7,344 total housing units (homes and apartments), and a median house value of $888,457, Garden City house prices are not only among the most expensive in New York, Garden City 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 Garden City, accounting for 85.93% of the village's housing units. Other types of housing that are prevalent in Garden City include large apartment complexes or high rise apartments ( 11.32%), row houses and other attached homes ( 1.64%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Garden City. Owner-occupied housing accounts for 89.33% of Garden City's homes, and 68.57% 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. Garden City's housing was primarily built during this period, from the '40s through the '60s. A full 53.05% of the village's housing hails from this era. Other housing ages represented in Garden City include homes built before 1939 ( 38.76%) and housing constructed between 1970-1999 ( 6.97%). There's also some housing in Garden City built between 2000 and later ( 1.22%).

Garden City Home Appreciation Rates

Appreciation rates for homes in Garden City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.38%, which ranks in the top 40% nationwide. This equates to an annual average Garden City house appreciation rate of 0.53%.

NeighborhoodScout's data show that during the latest twelve months, Garden City's appreciation rate, at 4.47%, has been at or slightly above the national average. In the latest quarter, Garden City's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$888,457

Garden City, NY HOME PRICES

Value Range
> $1,140,000 23.7
$855,001 - $1,140,000 27.6
$570,001 - $855,000 34.8
$456,001 - $570,000 3.4
$342,001 - $456,000 3.7
$228,001 - $342,000 2.0
$114,001 - $228,000 1.1
$57,001 - $114,000 1.4
$0 - $57,000 2.3

Very High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
1.48247978436658 4.82603815937149

Number Of Homes And Apartments:
7,344

Garden City 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
70.41% 3.14% 8 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,724 / per month

Homeownership Rate

Homeownership
Owners 89.33
Renters 10.67
Vacant 4.35

Housing Market Details

 

Age of Homes

AGE OF Garden City HOMES
2000 or Newer 1.2
1970 - 1999 7.0
1940 - 1969 53.0
1939 or Older 38.8

Types of Homes

TYPE OF Garden City HOMES
Single-Family 85.9
Townhomes 1.6
Small Apt. Buildings 0.8
Apt. Complexes 11.3
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Garden City HOMES
No Bedroom 0.33
1 Bedroom 5.48
2 Bedrooms 8.37
3 Bedrooms 38.33
4 Bedrooms 30.24
5 or more bedrooms 17.24