Merrick, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Merrick Neighborhoods Since 2000




Merrick, 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

Merrick Housing Market Information

With 22,405 people, 6,913 houses or apartments, and a median cost of homes of $617,759, Merrick house prices are not only among the most expensive in New York, Merrick real estate also is some of the most expensive in all of America.

Merrick is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Merrick than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Merrick. Owner-occupied housing accounts for 94.17% of Merrick's homes, and 77.30% 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. Merrick's housing was primarily built during this period, from the '40s through the '60s. A full 64.84% of the town's housing hails from this era. Other housing ages represented in Merrick include homes built before 1939 ( 23.51%) and housing constructed between 1970-1999 ( 9.14%). There's also some housing in Merrick built between 2000 and later ( 2.51%).

Merrick Home Appreciation Rates

Real estate appreciation rates in Merrick's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.56% during the period.

NeighborhoodScout's data show that during the latest twelve months, Merrick's appreciation rate, at 4.39%, has been at or slightly above the national average. In the latest quarter, Merrick's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New York, our data show that Merrick'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 town. Individual neighborhoods within Merrick differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Merrick - 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 Merrick real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$617,759

Merrick, NY HOME PRICES

Value Range
> $1,108,000 4.0
$831,001 - $1,108,000 7.4
$554,001 - $831,000 42.4
$443,001 - $554,000 24.2
$332,001 - $443,000 16.6
$221,001 - $332,000 2.9
$110,001 - $221,000 0.6
$55,001 - $110,000 0.4
$0 - $55,000 1.5

Very High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
3.66225243173561 10.1010101010101

Number Of Homes And Apartments:
6,913

Merrick 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
58.83% 2.72% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,915 / per month

Homeownership Rate

Homeownership
Owners 94.17
Renters 5.83
Vacant 4.71

Housing Market Details

 

Age of Homes

AGE OF Merrick HOMES
2000 or Newer 2.5
1970 - 1999 9.1
1940 - 1969 64.8
1939 or Older 23.5

Types of Homes

TYPE OF Merrick HOMES
Single-Family 95.2
Townhomes 0.8
Small Apt. Buildings 2.3
Apt. Complexes 1.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Merrick HOMES
No Bedroom 0.14
1 Bedroom 1.57
2 Bedrooms 5.93
3 Bedrooms 36.25
4 Bedrooms 41.05
5 or more bedrooms 15.07