Melville, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Melville Neighborhoods Since 2000




Melville, 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

Melville Housing Market Information

With 19,121 people, 6,836 houses or apartments, and a median cost of homes of $738,101, Melville house prices are not only among the most expensive in New York, Melville real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Melville, accounting for 59.64% of the town's housing units. Other types of housing that are prevalent in Melville include row houses and other attached homes ( 20.61%), large apartment complexes or high rise apartments ( 11.84%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.91%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Melville. Owner-occupied housing accounts for 85.45% of Melville's homes, and 55.37% 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. Melville's housing was primarily built during this period, from the '40s through the '60s. A full 36.57% of the town's housing hails from this era. Other housing ages represented in Melville include homes built between 1970-1999 ( 35.32%) and housing constructed between 2000 and later ( 26.25%). There's also some housing in Melville built before 1939 ( 1.86%).

Melville Home Appreciation Rates

Real estate appreciation rates in Melville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.65% during the period.

Over the last year, Melville appreciation rates have trailed the rest of the nation. In the last twelve months, Melville's appreciation rate has been 2.18%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Melville were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New York, our data show that Melville's latest annual appreciation rate is lower than 50% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$738,101

Melville, NY HOME PRICES

Value Range
> $1,096,000 13.5
$822,001 - $1,096,000 21.3
$548,001 - $822,000 29.4
$438,001 - $548,000 18.7
$328,001 - $438,000 5.9
$219,001 - $328,000 2.7
$109,001 - $219,000 5.0
$55,001 - $109,000 1.0
$0 - $55,000 2.5

Very High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
2.37313957576468 7.07070707070707

Number Of Homes And Apartments:
6,836

Melville 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
66.18% 2.99% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,753 / per month

Homeownership Rate

Homeownership
Owners 85.45
Renters 14.55
Vacant 4.34

Housing Market Details

 

Age of Homes

AGE OF Melville HOMES
2000 or Newer 26.3
1970 - 1999 35.3
1940 - 1969 36.6
1939 or Older 1.9

Types of Homes

TYPE OF Melville HOMES
Single-Family 59.6
Townhomes 20.6
Small Apt. Buildings 7.9
Apt. Complexes 11.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Melville HOMES
No Bedroom 0.32
1 Bedroom 6.17
2 Bedrooms 23.59
3 Bedrooms 30.03
4 Bedrooms 25.34
5 or more bedrooms 14.54