New Paltz, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating New Paltz Neighborhoods Since 2000




New Paltz, 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

New Paltz Housing Market Information

With 7,070 people, 1,983 houses or apartments, and a median cost of homes of $360,663, real estate costs in New Paltz 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.

Large apartment complexes or high rise apartments are the single most common housing type in New Paltz, accounting for 54.01% of the village's housing units. Other types of housing that are prevalent in New Paltz include single-family detached homes ( 25.84%), duplexes, homes converted to apartments or other small apartment buildings ( 14.26%), and a few row houses and other attached homes ( 5.88%). Villages with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact villages that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

New Paltz is dominated by renter-occupied one, two, or no bedrooms apartments. 82.42% of New Paltz's dwellings are rentals.

There is a lot of housing in New Paltz 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 New Paltz built between 1940-1969 ( 30.14%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.09%). There's also some housing in New Paltz built before 1939 ( 15.05%).

Vacant housing appears to be an issue in New Paltz. Fully 12.99% of the housing stock is classified as vacant. Left unchecked, vacant New Paltz homes and apartments can be a drag on the real estate market, holding New Paltz 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.

New Paltz Home Appreciation Rates

New Paltz's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in New Paltz during the period has been just -0.94%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, New Paltz's appreciation rate, at 4.44%, has been at or slightly above the national average. In the latest quarter, New Paltz's appreciation rate has been -2.15%, which annualizes to a rate of -8.33%.

Notably, New Paltz's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New York, our data show that New Paltz's latest annual appreciation rate is higher than 70% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$360,663

New Paltz 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
66.11% 2.99% 7 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,568 / per month

Homeownership Rate

Homeownership
Owners 17.58
Renters 82.42
Vacant 12.99

Housing Market Details

 

Age of Homes

AGE OF New Paltz HOMES
2000 or Newer 19.1
1970 - 1999 35.7
1940 - 1969 30.1
1939 or Older 15.1

Types of Homes

TYPE OF New Paltz HOMES
Single-Family 25.8
Townhomes 5.9
Small Apt. Buildings 14.3
Apt. Complexes 54.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF New Paltz HOMES
No Bedroom 4.74
1 Bedroom 32.60
2 Bedrooms 36.86
3 Bedrooms 15.80
4 Bedrooms 5.97
5 or more bedrooms 4.04