Millbrook, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Millbrook, NY Real Estate Data


Millbrook Housing Market Information

With a population of 1,425, 718 total housing units (homes and apartments), and a median house value of $380,536, real estate costs in Millbrook 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 Millbrook, accounting for 44.08% of the village's housing units. Other types of housing that are prevalent in Millbrook include duplexes, homes converted to apartments or other small apartment buildings ( 35.63%), large apartment complexes or high rise apartments ( 11.59%), and a few row houses and other attached homes ( 8.21%).

People in Millbrook primarily live in small (one, two or no bedroom) single-family detached homes. Millbrook has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Millbrook built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Millbrook built before 1939 ( 34.66%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.67%). There's also some housing in Millbrook built between 2000 and later ( 7.97%).

Vacant housing appears to be an issue in Millbrook. Fully 13.29% of the housing stock is classified as vacant. Left unchecked, vacant Millbrook homes and apartments can be a drag on the real estate market, holding Millbrook 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.

Millbrook Home Appreciation Rates

Millbrook's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Millbrook during the period has been just -1.19%, which is lower than 70% of US communities.

Over the last year, Millbrook appreciation rates have trailed the rest of the nation. In the last twelve months, Millbrook's appreciation rate has been 3.80%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Millbrook were at 1.43%, which equates to an annual appreciation rate of 5.85%.

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

Average Home Values

 

Median Home Value:
$380,536

Rent & Ownership

 

Average Market Rent:
$1,168 / per month

Homeownership Rate

Homeownership
Owners 43.17
Renters 56.83
Vacant 13.29

Housing Market Details

 

Age of Homes

AGE OF Millbrook HOMES
2000 or Newer 8.0
1970 - 1999 40.7
1940 - 1969 16.7
1939 or Older 34.7

Types of Homes

TYPE OF Millbrook HOMES
Single-Family 44.1
Townhomes 8.2
Small Apt. Buildings 35.6
Apt. Complexes 11.6
Mobile Homes 0.0
Other 0.5

Home Size

SIZE OF Millbrook HOMES
No Bedroom 1.69
1 Bedroom 18.72
2 Bedrooms 33.45
3 Bedrooms 27.54
4 Bedrooms 12.80
5 or more bedrooms 5.80

Millbrook Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
84.51% 3.67% 9 9
* 10 is highest