Lake Grove, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Lake Grove Neighborhoods Since 2000




Lake Grove, 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

Lake Grove Housing Market Information

With 11,235 people, 3,727 houses or apartments, and a median cost of homes of $416,375, real estate costs in Lake Grove 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 Lake Grove, accounting for 81.63% of the village's housing units. Other types of housing that are prevalent in Lake Grove include large apartment complexes or high rise apartments ( 10.81%), row houses and other attached homes ( 4.23%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.17%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lake Grove. Owner-occupied housing accounts for 81.00% of Lake Grove's homes, and 63.80% 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. Lake Grove's housing was primarily built during this period, from the '40s through the '60s. A full 48.04% of the village's housing hails from this era. Other housing ages represented in Lake Grove include homes built between 1970-1999 ( 33.95%) and housing constructed between 2000 and later ( 13.00%). There's also some housing in Lake Grove built before 1939 ( 5.01%).

Lake Grove Home Appreciation Rates

Lake Grove's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Lake Grove during the period has been just -1.93%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Lake Grove's appreciation rate, at 3.44%, has been at or slightly above the national average. In the latest quarter, Lake Grove's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New York, our data show that Lake Grove's latest annual appreciation rate is higher than 60% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$416,375

Lake Grove, NY HOME PRICES

Value Range
> $1,052,000 0.4
$789,001 - $1,052,000 1.3
$526,001 - $789,000 12.8
$421,001 - $526,000 26.4
$316,001 - $421,000 39.4
$210,001 - $316,000 16.9
$105,001 - $210,000 2.1
$52,001 - $105,000 0.0
$0 - $52,000 0.6

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
8.67221375834994 22.4466891133558

Number Of Homes And Apartments:
3,727

Lake Grove 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
53.39% 2.51% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,528 / per month

Homeownership Rate

Homeownership
Owners 81.00
Renters 19.00
Vacant 3.84

Housing Market Details

 

Age of Homes

AGE OF Lake Grove HOMES
2000 or Newer 13.0
1970 - 1999 34.0
1940 - 1969 48.0
1939 or Older 5.0

Types of Homes

TYPE OF Lake Grove HOMES
Single-Family 81.6
Townhomes 4.2
Small Apt. Buildings 3.2
Apt. Complexes 10.8
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Lake Grove HOMES
No Bedroom 0.54
1 Bedroom 9.93
2 Bedrooms 19.04
3 Bedrooms 27.84
4 Bedrooms 35.96
5 or more bedrooms 6.68