Millbrook, NY Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Millbrook, NY Housing Market Trends

With 1,406 people, 724 houses or apartments, and a median cost of homes of $357,754, Millbrook real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Millbrook, accounting for 50.49% 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 ( 24.32%), large apartment complexes or high rise apartments ( 14.99%), and a few row houses and other attached homes ( 8.85%).

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.

The housing in Millbrook was primarily built before 1939 ( 49.02%), making the housing stock in Millbrook some of the oldest overall in America, although there is a range of ages of homes in Millbrook. The next most important housing age is between 1970-1999 ( 23.46%), followed by between 1940-1969 ( 18.43%). There's also some housing in Millbrook built between 2000 and later ( 9.09%).

Vacant housing appears to be an issue in Millbrook. Fully 11.06% 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 1.44%, which is lower than 80% 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 4.91%, 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 1.68%, which equates to an annual appreciation rate of 6.90%.

Relative to New York, our data show that Millbrook's latest annual appreciation rate is lower than 80% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$357,754

Millbrook Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
100.60% 3.33%
6
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,985 / per month

Homeownership Rate

Owners
50.7%
50.7%
Renters
49.3%
49.3%
Vacant
11.1%
11.1%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
9.1%
9.1%
1970 - 1999
23.5%
23.5%
1940 - 1969
18.4%
18.4%
1939 or Older
49.0%
49.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
50.5%
50.5%
Townhomes
8.8%
8.8%
Small Apt. Buildings
24.3%
24.3%
Apt. Complexes
15.0%
15.0%
Mobile Homes
1.4%
1.4%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
5.5%
5.5%
1 Bedroom
12.9%
12.9%
2 Bedrooms
35.3%
35.3%
3 Bedrooms
29.0%
29.0%
4 Bedrooms
10.8%
10.8%
5 or more bedrooms
6.5%
6.5%
0.0% 100.0%
% OF HOMES