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 14,983 people, 4,889 houses or apartments, and a median cost of homes of $622,740, real estate costs in Farmingville 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 Farmingville, accounting for 93.15% of the town's housing units. Other types of housing that are prevalent in Farmingville include large apartment complexes or high rise apartments ( 3.78%), duplexes, homes converted to apartments or other small apartment buildings ( 2.24%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Farmingville. Owner-occupied housing accounts for 87.16% of Farmingville's homes, and 71.88% 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. Farmingville's housing was primarily built during this period, from the '40s through the '60s. A full 46.45% of the town's housing hails from this era. Other housing ages represented in Farmingville include homes built between 1970-1999 ( 43.92%) and housing constructed between 2000 and later ( 5.04%). There's also some housing in Farmingville built before 1939 ( 4.59%).
Appreciation rates for homes in Farmingville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 98.70%, which ranks in the top 40% nationwide. This equates to an annual average Farmingville house appreciation rate of 7.11%.
Appreciation rates are so strong in Farmingville that despite a nationwide downturn in the housing market, Farmingville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Farmingville appreciation rates continue to be some of the highest in America, at 10.63%, which is higher than appreciation rates in 89.80% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Farmingville. Farmingville 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 Farmingville's latest annual appreciation rate is higher than 80% of the other cities and towns in New York.
$622,740
for New york
for nation
4,889
$4,541 / per month