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 10,028 people, 3,822 houses or apartments, and a median cost of homes of $602,869, real estate costs in East Rockaway 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 East Rockaway, accounting for 58.17% of the village's housing units. Other types of housing that are prevalent in East Rockaway include duplexes, homes converted to apartments or other small apartment buildings ( 22.60%), large apartment complexes or high rise apartments ( 16.69%), and a few row houses and other attached homes ( 2.54%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in East Rockaway. Owner-occupied housing accounts for 72.70% of East Rockaway's homes, and 56.75% 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. East Rockaway's housing was primarily built during this period, from the '40s through the '60s. A full 61.17% of the village's housing hails from this era. Other housing ages represented in East Rockaway include homes built before 1939 ( 30.50%) and housing constructed between 2000 and later ( 5.29%). There's also some housing in East Rockaway built between 1970-1999 ( 3.04%).
East Rockaway's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in East Rockaway during the period has been just 5.66%, which is lower than 70% of US communities.
Appreciation rates are so strong in East Rockaway that despite a nationwide downturn in the housing market, East Rockaway real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, East Rockaway appreciation rates continue to be some of the highest in America, at 8.27%, which is higher than appreciation rates in 72.89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in East Rockaway. East Rockaway 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 East Rockaway's latest annual appreciation rate is higher than 70% of the other cities and towns in New York.
$602,869
for New york
for nation
3,822
$4,164 / per month