Riverhead, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Riverhead Neighborhoods Since 2000




Riverhead, 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

Riverhead Housing Market Information

With 13,407 people, 5,011 houses or apartments, and a median cost of homes of $319,366, real estate costs in Riverhead 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 Riverhead, accounting for 57.57% of the town's housing units. Other types of housing that are prevalent in Riverhead include large apartment complexes or high rise apartments ( 21.59%), row houses and other attached homes ( 11.78%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.84%).

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

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. Riverhead's housing was primarily built during this period, from the '40s through the '60s. A full 34.40% of the town's housing hails from this era. Other housing ages represented in Riverhead include homes built between 1970-1999 ( 33.50%) and housing constructed between 2000 and later ( 20.80%). There's also some housing in Riverhead built before 1939 ( 11.29%).

Riverhead Home Appreciation Rates

Riverhead's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Riverhead during the period has been just -1.58%, which is lower than 80% of US communities.

Appreciation rates are so strong in Riverhead that despite a nationwide downturn in the housing market, Riverhead real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Riverhead appreciation rates continue to be some of the highest in America, at 6.19%, which is higher than appreciation rates in 75.64% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Riverhead. Riverhead 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 Riverhead's latest annual appreciation rate is higher than 80% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$319,366

Riverhead, NY HOME PRICES

Value Range
> $1,143,000 0.7
$858,001 - $1,143,000 0.5
$571,001 - $858,000 7.2
$457,001 - $571,000 12.8
$343,001 - $457,000 28.4
$228,001 - $343,000 29.2
$114,001 - $228,000 10.9
$57,001 - $114,000 4.4
$0 - $57,000 6.0

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
14.6138521035978 30.6397306397306

Number Of Homes And Apartments:
5,011

Riverhead 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
89.41% 3.77% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,835 / per month

Homeownership Rate

Homeownership
Owners 57.33
Renters 42.67
Vacant 5.84

Housing Market Details

 

Age of Homes

AGE OF Riverhead HOMES
2000 or Newer 20.8
1970 - 1999 33.5
1940 - 1969 34.4
1939 or Older 11.3

Types of Homes

TYPE OF Riverhead HOMES
Single-Family 57.6
Townhomes 11.8
Small Apt. Buildings 6.8
Apt. Complexes 21.6
Mobile Homes 2.0
Other 0.3

Home Size

SIZE OF Riverhead HOMES
No Bedroom 1.79
1 Bedroom 14.86
2 Bedrooms 37.07
3 Bedrooms 30.42
4 Bedrooms 14.75
5 or more bedrooms 1.11