West Hempstead, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating West Hempstead Neighborhoods Since 2000




West Hempstead, 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

West Hempstead Housing Market Information

With a population of 19,125, 5,890 total housing units (homes and apartments), and a median house value of $460,689, West Hempstead house prices are not only among the most expensive in New York, West Hempstead real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in West Hempstead, accounting for 87.66% of the town's housing units. Other types of housing that are prevalent in West Hempstead include duplexes, homes converted to apartments or other small apartment buildings ( 6.54%), large apartment complexes or high rise apartments ( 4.80%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in West Hempstead. Owner-occupied housing accounts for 84.07% of West Hempstead's homes, and 68.53% 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. West Hempstead's housing was primarily built during this period, from the '40s through the '60s. A full 66.14% of the town's housing hails from this era. Other housing ages represented in West Hempstead include homes built before 1939 ( 22.93%) and housing constructed between 1970-1999 ( 7.47%). There's also some housing in West Hempstead built between 2000 and later ( 3.46%).

West Hempstead Home Appreciation Rates

Real estate appreciation rates in West Hempstead's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.60% during the period.

NeighborhoodScout's data show that during the latest twelve months, West Hempstead's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, West Hempstead's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to New York, our data show that West Hempstead's latest annual appreciation rate is higher than 70% 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 town. Individual neighborhoods within West Hempstead differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in West Hempstead - 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 West Hempstead real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$460,689

West Hempstead, NY HOME PRICES

Value Range
> $1,163,000 0.8
$872,001 - $1,163,000 2.3
$581,001 - $872,000 17.6
$465,001 - $581,000 26.9
$349,001 - $465,000 39.2
$233,001 - $349,000 8.2
$116,001 - $233,000 2.2
$58,001 - $116,000 1.8
$0 - $58,000 1.1

Very High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
7.06082268838626 19.7530864197531

Number Of Homes And Apartments:
5,890

West Hempstead 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
74.33% 3.27% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,348 / per month

Homeownership Rate

Homeownership
Owners 84.07
Renters 15.93
Vacant 3.46

Housing Market Details

 

Age of Homes

AGE OF West Hempstead HOMES
2000 or Newer 3.5
1970 - 1999 7.5
1940 - 1969 66.1
1939 or Older 22.9

Types of Homes

TYPE OF West Hempstead HOMES
Single-Family 87.7
Townhomes 0.7
Small Apt. Buildings 6.5
Apt. Complexes 4.8
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF West Hempstead HOMES
No Bedroom 0.97
1 Bedroom 4.79
2 Bedrooms 14.47
3 Bedrooms 41.50
4 Bedrooms 27.03
5 or more bedrooms 11.24