Red Hook, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Red Hook Neighborhoods Since 2000




Red Hook, 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

Red Hook Housing Market Information

With 1,990 people, 818 houses or apartments, and a median cost of homes of $270,336, Red Hook real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Red Hook, accounting for 59.64% of the village's housing units. Other types of housing that are prevalent in Red Hook include large apartment complexes or high rise apartments ( 19.91%), duplexes, homes converted to apartments or other small apartment buildings ( 17.88%), and a few row houses and other attached homes ( 2.57%).

People in Red Hook primarily live in small (one, two or no bedroom) single-family detached homes. Red Hook has a mixture of owner-occupied and renter-occupied housing.

The housing in Red Hook was primarily built before 1939 ( 30.09%), making the housing stock in Red Hook some of the oldest overall in America, although there is a range of ages of homes in Red Hook. The next most important housing age is between 1970-1999 ( 26.98%), followed by between 1940-1969 ( 25.05%). There's also some housing in Red Hook built between 2000 and later ( 17.88%).

Vacant housing appears to be an issue in Red Hook. Fully 12.42% of the housing stock is classified as vacant. Left unchecked, vacant Red Hook homes and apartments can be a drag on the real estate market, holding Red Hook 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.

Red Hook Home Appreciation Rates

Red Hook's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Red Hook during the period has been just -1.81%, which is lower than 80% of US communities.

Over the last year, Red Hook appreciation rates have trailed the rest of the nation. In the last twelve months, Red Hook's appreciation rate has been 2.60%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Red Hook were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New York, our data show that Red Hook's latest annual appreciation rate is higher than 50% 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 village. Individual neighborhoods within Red Hook differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Red Hook - 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 Red Hook real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$270,336

Red Hook, NY HOME PRICES

Value Range
> $1,058,000 0.9
$794,001 - $1,058,000 0.0
$529,001 - $794,000 0.0
$423,001 - $529,000 1.9
$317,001 - $423,000 23.4
$212,001 - $317,000 60.5
$106,001 - $212,000 10.9
$53,001 - $106,000 0.0
$0 - $53,000 2.4

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
19.7175670924645 35.3535353535354

Number Of Homes And Apartments:
818

Red Hook 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
43.30% 2.11% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,208 / per month

Homeownership Rate

Homeownership
Owners 54.16
Renters 45.84
Vacant 12.42

Housing Market Details

 

Age of Homes

AGE OF Red Hook HOMES
2000 or Newer 17.9
1970 - 1999 27.0
1940 - 1969 25.1
1939 or Older 30.1

Types of Homes

TYPE OF Red Hook HOMES
Single-Family 59.6
Townhomes 2.6
Small Apt. Buildings 17.9
Apt. Complexes 19.9
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Red Hook HOMES
No Bedroom 0.00
1 Bedroom 27.73
2 Bedrooms 23.66
3 Bedrooms 36.08
4 Bedrooms 9.42
5 or more bedrooms 3.10