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Putnam Valley, NY Real Estate Market

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 Q3 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Putnam Valley, NY Housing Market Trends

With a population of 11,778, 3,944 total housing units (homes and apartments), and a median house value of $504,854, real estate costs in Putnam Valley 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 Putnam Valley, accounting for 93.42% of the town's housing units. Other types of housing that are prevalent in Putnam Valley include duplexes, homes converted to apartments or other small apartment buildings ( 3.18%), row houses and other attached homes ( 2.56%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Putnam Valley. Owner-occupied housing accounts for 90.06% of Putnam Valley's homes, and 64.44% 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. Putnam Valley's housing was primarily built during this period, from the '40s through the '60s. A full 35.64% of the town's housing hails from this era. Other housing ages represented in Putnam Valley include homes built before 1939 ( 28.07%) and housing constructed between 1970-1999 ( 24.96%). There's also some housing in Putnam Valley built between 2000 and later ( 11.32%).

Vacant housing appears to be an issue in Putnam Valley. Fully 18.65% of the housing stock is classified as vacant. Left unchecked, vacant Putnam Valley homes and apartments can be a drag on the real estate market, holding Putnam Valley 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.

Putnam Valley Home Appreciation Rates

Putnam Valley's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Putnam Valley during the period has been just 4.08%, which is lower than 80% of US communities.

Over the last year, Putnam Valley appreciation rates have trailed the rest of the nation. In the last twelve months, Putnam Valley's appreciation rate has been 10.91%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Putnam Valley were at 3.88%, which equates to an annual appreciation rate of 16.44%.

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

Average Home Values

 

Median Home Value:
$504,854

Putnam Valley, NY HOME PRICES

> $1,356,000
$1,017,001 - $1,356,000
$678,001 - $1,017,000
$542,001 - $678,000
$407,001 - $542,000
$271,001 - $407,000
$136,001 - $271,000
$68,001 - $136,000
$0 - $68,000
2.4%
2.4%
2.4%
2.4%
15.1%
15.1%
19.5%
19.5%
26.2%
26.2%
22.5%
22.5%
8.1%
8.1%
2.5%
2.5%
1.4%
1.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for NY

Value Relative To Nation

Number Of Homes And Apartments:
3,944

Putnam Valley Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2022 Q2 - 2022 Q3
Last 12 Months:
2021 Q3 - 2022 Q3
Last 2 Years:
2020 Q3 - 2022 Q3
Last 5 Years:
2017 Q3 - 2022 Q3
Last 10 Years:
2012 Q3 - 2022 Q3
Since 2000:
2000 Q1 - 2022 Q3
90.19% 2.87%
1
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,432 / per month

Homeownership Rate

Owners
Renters
Vacant
90.1%
90.1%
9.9%
9.9%
18.6%
18.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.3%
11.3%
25.0%
25.0%
35.6%
35.6%
28.1%
28.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
93.4%
93.4%
2.6%
2.6%
3.2%
3.2%
0.8%
0.8%
0.0%
0.0%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.6%
0.6%
6.1%
6.1%
23.6%
23.6%
40.9%
40.9%
23.5%
23.5%
5.2%
5.2%
0.0% 100.0%
% OF HOMES