Patterson, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Patterson, 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

Patterson Housing Market Information

With a population of 11,910, 2,037 total housing units (homes and apartments), and a median house value of $359,088, real estate costs in Patterson 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 Patterson, accounting for 75.49% of the town's housing units. Other types of housing that are prevalent in Patterson include large apartment complexes or high rise apartments ( 11.63%), row houses and other attached homes ( 6.17%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.40%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Patterson. Owner-occupied housing accounts for 72.05% of Patterson's homes, and 55.01% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Patterson 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 Patterson built between 1940-1969 ( 26.39%). A lesser amount of the housing stock also hails from before 1939 ( 17.58%). There's also some housing in Patterson built between 2000 and later ( 12.42%).

Vacant housing appears to be an issue in Patterson. Fully 16.03% of the housing stock is classified as vacant. Left unchecked, vacant Patterson homes and apartments can be a drag on the real estate market, holding Patterson 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.

Patterson Home Appreciation Rates

Homes have actually lost value in Patterson over the last then years, as home values have seen a decline of 26.99% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Patterson home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Over the last year, Patterson appreciation rates have trailed the rest of the nation. In the last twelve months, Patterson's appreciation rate has been 2.38%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Patterson were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New York, our data show that Patterson's latest annual appreciation rate is higher than 50% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$359,088

Patterson, NY HOME PRICES

Value Range
> $1,037,000 0.0
$778,001 - $1,037,000 0.0
$519,001 - $778,000 12.5
$415,001 - $519,000 15.7
$311,001 - $415,000 24.2
$207,001 - $311,000 20.5
$104,001 - $207,000 20.5
$52,001 - $104,000 5.0
$0 - $52,000 1.6

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
11.5492792687214 27.2727272727273

Number Of Homes And Apartments:
2,037

Patterson 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
28.47% 1.46% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,659 / per month

Homeownership Rate

Homeownership
Owners 72.05
Renters 27.95
Vacant 16.03

Housing Market Details

 

Age of Homes

AGE OF Patterson HOMES
2000 or Newer 12.4
1970 - 1999 43.6
1940 - 1969 26.4
1939 or Older 17.6

Types of Homes

TYPE OF Patterson HOMES
Single-Family 75.5
Townhomes 6.2
Small Apt. Buildings 5.4
Apt. Complexes 11.6
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF Patterson HOMES
No Bedroom 2.63
1 Bedroom 12.68
2 Bedrooms 26.97
3 Bedrooms 38.34
4 Bedrooms 16.66
5 or more bedrooms 2.71

Popular Neighborhoods in Patterson

Zip Codes in Patterson, NY