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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 33,717, 14,331 total housing units (homes and apartments), and a median house value of $577,854, Long Beach house prices are not only among the most expensive in New York, Long Beach real estate also is some of the most expensive in all of America.
Large apartment complexes or high rise apartments are the single most common housing type in Long Beach, accounting for 36.28% of the city's housing units. Other types of housing that are prevalent in Long Beach include single-family detached homes ( 35.89%), duplexes, homes converted to apartments or other small apartment buildings ( 22.49%), and a few row houses and other attached homes ( 5.26%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
People in Long Beach primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Long Beach 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. Long Beach's housing was primarily built during this period, from the '40s through the '60s. A full 44.37% of the city's housing hails from this era. Other housing ages represented in Long Beach include homes built before 1939 ( 27.64%) and housing constructed between 1970-1999 ( 24.52%). There's also some housing in Long Beach built between 2000 and later ( 3.47%).
Vacant housing appears to be an issue in Long Beach. Fully 13.88% of the housing stock is classified as vacant. Left unchecked, vacant Long Beach homes and apartments can be a drag on the real estate market, holding Long Beach 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.
Appreciation rates for homes in Long Beach have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.67%, which ranks in the top 40% nationwide. This equates to an annual average Long Beach house appreciation rate of 1.20%.
Appreciation rates are so strong in Long Beach that despite a nationwide downturn in the housing market, Long Beach real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Long Beach appreciation rates continue to be some of the highest in America, at 9.41%, which is higher than appreciation rates in 87.99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Long Beach. Long Beach appreciation rates in the latest quarter were at 2.15%, which equates to an annual appreciation rate of 8.87%.
Importantly, this makes Long Beach one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to New York, our data show that Long Beach's latest annual appreciation rate is higher than 90% 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 city. Individual neighborhoods within Long Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Long Beach - 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 Long Beach real estate investment or home purchase decisions.
|$919,001 - $1,226,000||7.0|
|$612,001 - $919,000||29.9|
|$490,001 - $612,000||23.3|
|$368,001 - $490,000||18.6|
|$245,001 - $368,000||12.4|
|$122,001 - $245,000||3.3|
|$61,001 - $122,000||0.7|
|$0 - $61,000||1.6|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2017 Q3 - 2017 Q4
Last 12 Months:
2016 Q4 - 2017 Q4
Last 2 Years:
2015 Q4 - 2017 Q4
Last 5 Years:
2012 Q4 - 2017 Q4
Last 10 Years:
2007 Q4 - 2017 Q4
2000 Q1 - 2017 Q4
|* 10 is highest|
|AGE OF Long Beach HOMES|
|2000 or Newer||3.5|
|1970 - 1999||24.5|
|1940 - 1969||44.4|
|1939 or Older||27.6|
|TYPE OF Long Beach HOMES|
|Small Apt. Buildings||22.5|
|SIZE OF Long Beach HOMES|
|5 or more bedrooms||5.26|