Hopewell Junction, 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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Hopewell Junction Housing Market Information

With a population of 380, 118 total housing units (homes and apartments), and a median house value of $426,145, real estate costs in Hopewell Junction 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 Hopewell Junction, accounting for 83.02% of the town's housing units. Other types of housing that are prevalent in Hopewell Junction include row houses and other attached homes ( 10.69%), large apartment complexes or high rise apartments ( 6.29%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hopewell Junction. Owner-occupied housing accounts for 83.05% of Hopewell Junction's homes, and 67.30% 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. Hopewell Junction's housing was primarily built during this period, from the '40s through the '60s. A full 52.83% of the town's housing hails from this era. Other housing ages represented in Hopewell Junction include homes built before 1939 ( 40.88%) and housing constructed between 1970-1999 ( 6.29%).

Vacant housing appears to be an issue in Hopewell Junction. Fully 25.79% of the housing stock is classified as vacant. Left unchecked, vacant Hopewell Junction homes and apartments can be a drag on the real estate market, holding Hopewell Junction real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Hopewell Junction Home Appreciation Rates

Hopewell Junction's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hopewell Junction during the period has been just 1.30%, which is lower than 80% of US communities.

Over the last year, Hopewell Junction appreciation rates have trailed the rest of the nation. In the last twelve months, Hopewell Junction's appreciation rate has been 3.01%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hopewell Junction were at 0.70%, which equates to an annual appreciation rate of 2.82%.

Notably, Hopewell Junction's appreciation rate in the latest quarter is one of the lowest in America.

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

Average Home Values

 
info

Median Home Value:
$426,145

Hopewell Junction, NY HOME PRICES

> $1,160,000
1.2%
1.2%
$870,001 - $1,160,000
2.3%
2.3%
$580,001 - $870,000
9.3%
9.3%
$464,001 - $580,000
21.4%
21.4%
$348,001 - $464,000
30.8%
30.8%
$232,001 - $348,000
24.0%
24.0%
$116,001 - $232,000
6.5%
6.5%
$58,001 - $116,000
0.6%
0.6%
$0 - $58,000
4.0%
4.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for NY

Value Relative To Nation

Number Of Homes And Apartments:
118

Hopewell Junction Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
52.03% 2.04%
1
3
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,726 / per month

Homeownership Rate

Owners
83.1%
83.1%
Renters
16.9%
16.9%
Vacant
25.8%
25.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
0.0%
0.0%
1970 - 1999
6.3%
6.3%
1940 - 1969
52.8%
52.8%
1939 or Older
40.9%
40.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
83.0%
83.0%
Townhomes
10.7%
10.7%
Small Apt. Buildings
0.0%
0.0%
Apt. Complexes
6.3%
6.3%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
0.0%
0.0%
2 Bedrooms
32.7%
32.7%
3 Bedrooms
20.8%
20.8%
4 Bedrooms
46.5%
46.5%
5 or more bedrooms
0.0%
0.0%
0.0% 100.0%
% OF HOMES