Hopewell Junction, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Hopewell Junction Neighborhoods Since 2000




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 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

Hopewell Junction Housing Market Information

With a population of 380, 154 total housing units (homes and apartments), and a median house value of $372,736, 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 74.68% of the town's housing units. Other types of housing that are prevalent in Hopewell Junction include duplexes, homes converted to apartments or other small apartment buildings ( 15.58%), row houses and other attached homes ( 5.19%), and a few large apartment complexes or high rise apartments ( 4.55%).

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 85.06% of Hopewell Junction's homes, and 77.27% 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 61.04% of the town's housing hails from this era. Other housing ages represented in Hopewell Junction include homes built before 1939 ( 38.96%) and housing constructed between 1970-1999 ( 0.00%).

Hopewell Junction Home Appreciation Rates

Homes have actually lost value in Hopewell Junction over the last then years, as home values have seen a decline of 20.54% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Hopewell Junction home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

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 2.56%, 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 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New York, our data show that Hopewell Junction's latest annual appreciation rate is higher than 50% 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

 

Median Home Value:
$372,736

Hopewell Junction, NY HOME PRICES

Value Range
> $1,036,000 0.3
$777,001 - $1,036,000 2.5
$518,001 - $777,000 11.9
$414,001 - $518,000 18.1
$311,001 - $414,000 34.4
$207,001 - $311,000 26.5
$104,001 - $207,000 2.3
$52,001 - $104,000 1.5
$0 - $52,000 2.7

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
10.7582327434665 26.0381593714927

Number Of Homes And Apartments:
154

Hopewell Junction 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
31.89% 1.62% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,605 / per month

Homeownership Rate

Homeownership
Owners 85.06
Renters 14.94
Vacant 0.00

Housing Market Details

 

Age of Homes

AGE OF Hopewell Junction HOMES
2000 or Newer 0.0
1970 - 1999 0.0
1940 - 1969 61.0
1939 or Older 39.0

Types of Homes

TYPE OF Hopewell Junction HOMES
Single-Family 74.7
Townhomes 5.2
Small Apt. Buildings 15.6
Apt. Complexes 4.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Hopewell Junction HOMES
No Bedroom 0.00
1 Bedroom 2.60
2 Bedrooms 20.13
3 Bedrooms 77.27
4 Bedrooms 0.00
5 or more bedrooms 0.00