Orchard Park, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Orchard Park, NY Real Estate Data


Orchard Park Housing Market Information

With 3,206 people, 1,383 houses or apartments, and a median cost of homes of $249,362, Orchard Park real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Orchard Park, accounting for 66.39% of the village's housing units. Other types of housing that are prevalent in Orchard Park include large apartment complexes or high rise apartments ( 21.95%), duplexes, homes converted to apartments or other small apartment buildings ( 10.28%), and a few row houses and other attached homes ( 1.38%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Orchard Park. Owner-occupied housing accounts for 68.08% of Orchard Park's homes, and 62.66% 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. Orchard Park's housing was primarily built during this period, from the '40s through the '60s. A full 60.11% of the village's housing hails from this era. Other housing ages represented in Orchard Park include homes built before 1939 ( 20.29%) and housing constructed between 1970-1999 ( 19.60%).

Orchard Park Home Appreciation Rates

In the last 10 years, Orchard Park has experienced some of the highest home appreciation rates of any community in the nation. Orchard Park real estate appreciated 18.36% over the last ten years, which is an average annual home appreciation rate of 1.70%, putting Orchard Park in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Orchard Park definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Orchard Park appreciation rates have trailed the rest of the nation. In the last twelve months, Orchard Park's appreciation rate has been 3.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Orchard Park were at 2.02%, which equates to an annual appreciation rate of 8.33%.

Relative to New York, our data show that Orchard Park's latest annual appreciation rate is lower than 50% 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 village. Individual neighborhoods within Orchard Park differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Orchard Park - 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 Orchard Park real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$249,362

Orchard Park, NY HOME PRICES

Value Range
> $1,150,000 0.1
$863,001 - $1,150,000 0.2
$575,001 - $863,000 1.2
$460,001 - $575,000 2.4
$345,001 - $460,000 8.6
$230,001 - $345,000 46.3
$115,001 - $230,000 37.4
$58,001 - $115,000 2.7
$0 - $58,000 1.2

High for NY
High for Nation

Value Relative to Nation Value Relative to State
23.2886338349827 38.1593714927048

Number Of Homes And Apartments:
1,383

Rent & Ownership

 

Average Market Rent:
$1,341 / per month

Homeownership Rate

Homeownership
Owners 68.08
Renters 31.92
Vacant 4.55

Housing Market Details

 

Age of Homes

AGE OF Orchard Park HOMES
2000 or Newer 0.0
1970 - 1999 19.6
1940 - 1969 60.1
1939 or Older 20.3

Types of Homes

TYPE OF Orchard Park HOMES
Single-Family 66.4
Townhomes 1.4
Small Apt. Buildings 10.3
Apt. Complexes 21.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Orchard Park HOMES
No Bedroom 0.00
1 Bedroom 4.14
2 Bedrooms 28.99
3 Bedrooms 36.09
4 Bedrooms 26.57
5 or more bedrooms 4.21

Orchard Park 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
50.44% 2.43% 4 6
* 10 is highest