Penfield, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Penfield Neighborhoods Since 2000




Penfield, NY Real Estate Data


Penfield Housing Market Information

With a population of 20,163, 2,222 total housing units (homes and apartments), and a median house value of $191,688, Penfield real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Penfield, accounting for 76.06% of the town's housing units. Other types of housing that are prevalent in Penfield include large apartment complexes or high rise apartments ( 11.32%), row houses and other attached homes ( 8.51%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.72%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Penfield. Owner-occupied housing accounts for 83.84% of Penfield's homes, and 70.21% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Penfield 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 Penfield built between 1940-1969 ( 29.94%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.14%). There's also some housing in Penfield built before 1939 ( 7.26%).

Penfield Home Appreciation Rates

Appreciation rates for homes in Penfield have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.11%, which ranks in the top 40% nationwide. This equates to an annual average Penfield house appreciation rate of 0.88%.

Over the last year, Penfield appreciation rates have trailed the rest of the nation. In the last twelve months, Penfield's appreciation rate has been 4.13%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Penfield were at 2.93%, which equates to an annual appreciation rate of 12.25%.

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

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

Average Home Values

 

Median Home Value:
$191,688

Penfield, NY HOME PRICES

Value Range
> $1,088,000 0.0
$815,001 - $1,088,000 0.2
$544,001 - $815,000 0.2
$435,001 - $544,000 1.5
$326,001 - $435,000 7.6
$217,001 - $326,000 26.0
$109,001 - $217,000 55.8
$54,001 - $109,000 5.6
$0 - $54,000 3.2

Average for NY
High for Nation

Value Relative to Nation Value Relative to State
35.216958482169 46.1279461279461

Number Of Homes And Apartments:
2,222

Rent & Ownership

 

Average Market Rent:
$1,234 / per month

Homeownership Rate

Homeownership
Owners 83.84
Renters 16.16
Vacant 3.61

Housing Market Details

 

Age of Homes

AGE OF Penfield HOMES
2000 or Newer 8.1
1970 - 1999 54.7
1940 - 1969 29.9
1939 or Older 7.3

Types of Homes

TYPE OF Penfield HOMES
Single-Family 76.1
Townhomes 8.5
Small Apt. Buildings 3.7
Apt. Complexes 11.3
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Penfield HOMES
No Bedroom 1.93
1 Bedroom 5.12
2 Bedrooms 16.96
3 Bedrooms 35.98
4 Bedrooms 34.23
5 or more bedrooms 5.78

Penfield 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
31.18% 1.61% 1 3
* 10 is highest