New Paltz, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating New Paltz Neighborhoods Since 2000




New Paltz, NY Real Estate Data


New Paltz Housing Market Information

With 7,070 people, 1,994 houses or apartments, and a median cost of homes of $318,609, New Paltz real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in New Paltz, accounting for 52.30% of the village's housing units. Other types of housing that are prevalent in New Paltz include single-family detached homes ( 24.09%), duplexes, homes converted to apartments or other small apartment buildings ( 16.98%), and a few row houses and other attached homes ( 6.63%). This particular housing mix is relatively uncommon and characteristic of villages that are compact and walkable, and which often have a lively downtown.

New Paltz is dominated by renter-occupied one, two, or no bedrooms apartments. 83.15% 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 ( 26.17%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.27%). There's also some housing in New Paltz built before 1939 ( 14.32%).

Vacant housing appears to be an issue in New Paltz. Fully 11.85% 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 -0.91%, which is lower than 70% of US communities.

Over the last year, New Paltz appreciation rates have trailed the rest of the nation. In the last twelve months, New Paltz's appreciation rate has been -0.27%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Paltz were at 3.22%, which equates to an annual appreciation rate of 13.52%.

Importantly, this makes New Paltz one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

Relative to New York, our data show that New Paltz's latest annual appreciation rate is lower than 90% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$318,609

New Paltz, NY HOME PRICES

Value Range
> $1,036,000 0.3
$777,001 - $1,036,000 0.4
$518,001 - $777,000 3.2
$414,001 - $518,000 10.6
$311,001 - $414,000 40.2
$208,001 - $311,000 35.0
$103,001 - $208,000 7.0
$52,001 - $103,000 2.7
$0 - $52,000 0.5

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
15.1021842243954 31.4253647586981

Number Of Homes And Apartments:
1,994

Rent & Ownership

 

Average Market Rent:
$1,428 / per month

Homeownership Rate

Homeownership
Owners 16.85
Renters 83.15
Vacant 11.85

Housing Market Details

 

Age of Homes

AGE OF New Paltz HOMES
2000 or Newer 19.3
1970 - 1999 40.2
1940 - 1969 26.2
1939 or Older 14.3

Types of Homes

TYPE OF New Paltz HOMES
Single-Family 24.1
Townhomes 6.6
Small Apt. Buildings 17.0
Apt. Complexes 52.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF New Paltz HOMES
No Bedroom 3.36
1 Bedroom 35.28
2 Bedrooms 33.60
3 Bedrooms 16.27
4 Bedrooms 6.50
5 or more bedrooms 5.00

New Paltz 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
67.48% 3.08% 7 8
* 10 is highest