Long Beach NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Long Beach, 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 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

Long Beach Housing Market Information

With a population of 33,534, 14,366 total housing units (homes and apartments), and a median house value of $595,625, 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 36.58% of the city's housing units. Other types of housing that are prevalent in Long Beach include single-family detached homes ( 36.33%), duplexes, homes converted to apartments or other small apartment buildings ( 22.63%), and a few row houses and other attached homes ( 4.38%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

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 47.96% of the city's housing hails from this era. Other housing ages represented in Long Beach include homes built before 1939 ( 24.39%) and housing constructed between 1970-1999 ( 24.18%). 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 12.89% 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.

Long Beach Home Appreciation Rates

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 39.32%, which ranks in the top 30% nationwide. This equates to an annual average Long Beach house appreciation rate of 3.37%.

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 6.54%, which is higher than appreciation rates in 70.59% 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 1.04%, which equates to an annual appreciation rate of 4.22%.

Relative to New York, our data show that Long Beach's latest annual appreciation rate is higher than 70% 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.

Average Home Values

 

Median Home Value:
$595,625

Long Beach, NY HOME PRICES

Value Range
> $1,242,000 3.6
$931,001 - $1,242,000 10.4
$621,001 - $931,000 32.5
$497,001 - $621,000 18.9
$372,001 - $497,000 17.4
$248,001 - $372,000 13.0
$124,001 - $248,000 2.2
$62,001 - $124,000 0.5
$0 - $62,000 1.5

Very High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
5.20875912408759 14.5555555555556

Number Of Homes And Apartments:
14,366

Long Beach Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
144.27% 4.51%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,997 / per month

Homeownership Rate

Homeownership
Owners 54.82
Renters 45.18
Vacant 12.89

Housing Market Details

 

Age of Homes

AGE OF Long Beach HOMES
2000 or Newer 3.5
1970 - 1999 24.2
1940 - 1969 48.0
1939 or Older 24.4

Types of Homes

TYPE OF Long Beach HOMES
Single-Family 36.3
Townhomes 4.4
Small Apt. Buildings 22.6
Apt. Complexes 36.6
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Long Beach HOMES
No Bedroom 7.67
1 Bedroom 24.55
2 Bedrooms 23.36
3 Bedrooms 26.93
4 Bedrooms 14.12
5 or more bedrooms 3.37