Peekskill, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Peekskill Neighborhoods Since 2000




Peekskill, 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

Peekskill Housing Market Information

With 24,043 people, 9,072 houses or apartments, and a median cost of homes of $329,479, real estate costs in Peekskill 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 Peekskill, accounting for 34.32% of the city's housing units. Other types of housing that are prevalent in Peekskill include single-family detached homes ( 29.61%), duplexes, homes converted to apartments or other small apartment buildings ( 22.90%), and a few row houses and other attached homes ( 13.17%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.

People in Peekskill primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Peekskill has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Peekskill 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 Peekskill built between 1940-1969 ( 32.61%). A lesser amount of the housing stock also hails from before 1939 ( 27.52%). There's also some housing in Peekskill built between 2000 and later ( 6.83%).

Peekskill Home Appreciation Rates

Homes have actually lost value in Peekskill over the last then years, as home values have seen a decline of 20.54% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Peekskill home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

Appreciation rates are so strong in Peekskill that despite a nationwide downturn in the housing market, Peekskill real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Peekskill appreciation rates continue to be some of the highest in America, at 6.75%, which is higher than appreciation rates in 79.61% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Peekskill. Peekskill appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New York, our data show that Peekskill's latest annual appreciation rate is higher than 90% 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 city. Individual neighborhoods within Peekskill differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Peekskill - 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 Peekskill real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$329,479

Peekskill, NY HOME PRICES

Value Range
> $1,137,000 1.1
$853,001 - $1,137,000 1.0
$568,001 - $853,000 5.6
$455,001 - $568,000 10.6
$342,001 - $455,000 31.9
$228,001 - $342,000 33.9
$114,001 - $228,000 9.7
$57,001 - $114,000 4.9
$0 - $57,000 1.3

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
13.7642095394351 29.96632996633

Number Of Homes And Apartments:
9,072

Peekskill 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
48.76% 2.33% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,751 / per month

Homeownership Rate

Homeownership
Owners 49.27
Renters 50.73
Vacant 8.69

Housing Market Details

 

Age of Homes

AGE OF Peekskill HOMES
2000 or Newer 6.8
1970 - 1999 33.0
1940 - 1969 32.6
1939 or Older 27.5

Types of Homes

TYPE OF Peekskill HOMES
Single-Family 29.6
Townhomes 13.2
Small Apt. Buildings 22.9
Apt. Complexes 34.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Peekskill HOMES
No Bedroom 3.88
1 Bedroom 26.88
2 Bedrooms 30.80
3 Bedrooms 25.17
4 Bedrooms 10.65
5 or more bedrooms 2.62