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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 32,598, 8,630 total housing units (homes and apartments), and a median house value of $309,239, Spring Valley real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in Spring Valley, accounting for 54.37% of the village's housing units. Other types of housing that are prevalent in Spring Valley include duplexes, homes converted to apartments or other small apartment buildings ( 21.16%), single-family detached homes ( 16.96%), and a few row houses and other attached homes ( 7.16%). Villages that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of villages are often walkable and compact, and often have a lively downtown.
Spring Valley is dominated by renter-occupied one, two, or no bedrooms apartments. 69.12% of Spring Valley's dwellings are rentals.
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. Spring Valley's housing was primarily built during this period, from the '40s through the '60s. A full 41.53% of the village's housing hails from this era. Other housing ages represented in Spring Valley include homes built between 1970-1999 ( 40.21%) and housing constructed before 1939 ( 9.61%). There's also some housing in Spring Valley built between 2000 and later ( 8.65%).
Vacant housing appears to be an issue in Spring Valley. Fully 11.29% of the housing stock is classified as vacant. Left unchecked, vacant Spring Valley homes and apartments can be a drag on the real estate market, holding Spring 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.
Real estate appreciation rates in Spring Valley's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.14% during the period.
Appreciation rates are so strong in Spring Valley that despite a nationwide downturn in the housing market, Spring Valley real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Spring Valley appreciation rates continue to be some of the highest in America, at 7.33%, which is higher than appreciation rates in 83.24% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Spring Valley. Spring Valley 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 Spring Valley's latest annual appreciation rate is higher than 90% 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 Spring Valley differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Spring Valley - 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 Spring Valley real estate investment or home purchase decisions.
|$924,001 - $1,232,000||0.1|
|$616,001 - $924,000||10.6|
|$493,001 - $616,000||9.6|
|$370,001 - $493,000||23.9|
|$246,001 - $370,000||21.6|
|$123,001 - $246,000||19.5|
|$61,001 - $123,000||9.9|
|$0 - $61,000||3.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Spring Valley HOMES|
|2000 or Newer||8.6|
|1970 - 1999||40.2|
|1940 - 1969||41.5|
|1939 or Older||9.6|
|TYPE OF Spring Valley HOMES|
|Small Apt. Buildings||21.2|
|SIZE OF Spring Valley HOMES|
|5 or more bedrooms||5.44|