Port Jervis, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Port Jervis, 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

Port Jervis Housing Market Information

With a population of 8,609, 3,420 total housing units (homes and apartments), and a median house value of $178,906, Port Jervis real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Port Jervis, accounting for 58.68% of the city's housing units. Other types of housing that are prevalent in Port Jervis include large apartment complexes or high rise apartments ( 19.88%), duplexes, homes converted to apartments or other small apartment buildings ( 19.75%), and a few row houses and other attached homes ( 1.56%).

The most prevalent building size and type in Port Jervis are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.21% owning and 49.79% renting.

The housing in Port Jervis was primarily built before 1939 ( 60.12%), making the housing stock in Port Jervis some of the oldest overall in America, although there is a range of ages of homes in Port Jervis. The next most important housing age is between 1940-1969 ( 19.38%), followed by between 1970-1999 ( 13.78%). There's also some housing in Port Jervis built between 2000 and later ( 6.73%).

Vacant housing appears to be an issue in Port Jervis. Fully 14.16% of the housing stock is classified as vacant. Left unchecked, vacant Port Jervis homes and apartments can be a drag on the real estate market, holding Port Jervis 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.

Port Jervis Home Appreciation Rates

Homes have actually lost value in Port Jervis over the last then years, as home values have seen a decline of 27.08% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Port Jervis home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

NeighborhoodScout's data show that during the latest twelve months, Port Jervis's appreciation rate, at 3.44%, has been at or slightly above the national average. In the latest quarter, Port Jervis's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New York, our data show that Port Jervis's latest annual appreciation rate is higher than 60% 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 Port Jervis differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Port Jervis - 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 Port Jervis real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$178,906

Port Jervis, NY HOME PRICES

Value Range
> $1,052,000 0.7
$788,001 - $1,052,000 1.3
$525,001 - $788,000 0.3
$421,001 - $525,000 0.3
$316,001 - $421,000 4.5
$210,001 - $316,000 15.1
$105,001 - $210,000 60.5
$52,001 - $105,000 13.8
$0 - $52,000 3.7

Average for NY
High for Nation

Value Relative to Nation Value Relative to State
38.5151763740771 49.2704826038159

Number Of Homes And Apartments:
3,420

Port Jervis 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
49.59% 2.36% 4 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,330 / per month

Homeownership Rate

Homeownership
Owners 50.21
Renters 49.79
Vacant 14.16

Housing Market Details

 

Age of Homes

AGE OF Port Jervis HOMES
2000 or Newer 6.7
1970 - 1999 13.8
1940 - 1969 19.4
1939 or Older 60.1

Types of Homes

TYPE OF Port Jervis HOMES
Single-Family 58.7
Townhomes 1.6
Small Apt. Buildings 19.8
Apt. Complexes 19.9
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Port Jervis HOMES
No Bedroom 2.76
1 Bedroom 20.31
2 Bedrooms 22.26
3 Bedrooms 39.26
4 Bedrooms 12.45
5 or more bedrooms 2.96