Hempstead, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Hempstead Neighborhoods Since 2000




Hempstead, 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

Hempstead Housing Market Information

With a population of 55,547, 15,863 total housing units (homes and apartments), and a median house value of $336,167, real estate costs in Hempstead 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 Hempstead, accounting for 45.94% of the village's housing units. Other types of housing that are prevalent in Hempstead include large apartment complexes or high rise apartments ( 39.14%), duplexes, homes converted to apartments or other small apartment buildings ( 12.20%), and a few row houses and other attached homes ( 2.65%).

People in Hempstead primarily live in small (one, two or no bedroom) single-family detached homes. Hempstead has a mixture of owner-occupied and renter-occupied housing.

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. Hempstead's housing was primarily built during this period, from the '40s through the '60s. A full 51.92% of the village's housing hails from this era. Other housing ages represented in Hempstead include homes built before 1939 ( 23.08%) and housing constructed between 1970-1999 ( 20.77%). There's also some housing in Hempstead built between 2000 and later ( 4.23%).

Hempstead Home Appreciation Rates

Homes have actually lost value in Hempstead over the last then years, as home values have seen a decline of 26.75% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Hempstead home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Appreciation rates are so strong in Hempstead that despite a nationwide downturn in the housing market, Hempstead real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hempstead appreciation rates continue to be some of the highest in America, at 6.30%, which is higher than appreciation rates in 76.47% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hempstead. Hempstead 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 Hempstead'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 village. Individual neighborhoods within Hempstead differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hempstead - 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 Hempstead real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$336,167

Hempstead, NY HOME PRICES

Value Range
> $1,114,000 0.6
$835,001 - $1,114,000 1.6
$557,001 - $835,000 7.3
$445,001 - $557,000 9.7
$334,001 - $445,000 29.4
$223,001 - $334,000 40.2
$111,001 - $223,000 8.9
$56,001 - $111,000 1.6
$0 - $56,000 0.7

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
13.189968358139 29.0684624017957

Number Of Homes And Apartments:
15,863

Hempstead 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
53.62% 2.52% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,789 / per month

Homeownership Rate

Homeownership
Owners 42.80
Renters 57.20
Vacant 7.72

Housing Market Details

 

Age of Homes

AGE OF Hempstead HOMES
2000 or Newer 4.2
1970 - 1999 20.8
1940 - 1969 51.9
1939 or Older 23.1

Types of Homes

TYPE OF Hempstead HOMES
Single-Family 45.9
Townhomes 2.6
Small Apt. Buildings 12.2
Apt. Complexes 39.1
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Hempstead HOMES
No Bedroom 6.53
1 Bedroom 20.91
2 Bedrooms 22.45
3 Bedrooms 24.99
4 Bedrooms 16.11
5 or more bedrooms 9.02