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 about Scout's Real Estate Data
With 12,146 people, 4,676 houses or apartments, and a median cost of homes of $803,685, Babylon house prices are not only among the most expensive in New York, Babylon 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 Babylon, accounting for 73.58% of the village's housing units. Other types of housing that are prevalent in Babylon include duplexes, homes converted to apartments or other small apartment buildings ( 12.50%), large apartment complexes or high rise apartments ( 8.03%), and a few row houses and other attached homes ( 5.90%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Babylon. Owner-occupied housing accounts for 78.42% of Babylon's homes, and 60.30% 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. Babylon's housing was primarily built during this period, from the '40s through the '60s. A full 51.34% of the village's housing hails from this era. Other housing ages represented in Babylon include homes built before 1939 ( 28.24%) and housing constructed between 1970-1999 ( 15.89%). There's also some housing in Babylon built between 2000 and later ( 4.53%).
Real estate appreciation rates in Babylon's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.12% during the period.
Appreciation rates are so strong in Babylon that despite a nationwide downturn in the housing market, Babylon real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Babylon appreciation rates continue to be some of the highest in America, at 9.72%, which is higher than appreciation rates in 85.80% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Babylon. Babylon appreciation rates in the latest quarter were at 2.82%, which equates to an annual appreciation rate of 11.77%.
Relative to New York, our data show that Babylon's latest annual appreciation rate is higher than 80% of the other cities and towns in New York.
$803,685
for New york
for nation
4,676
$4,653 / per month