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 a population of 12,344, 5,269 total housing units (homes and apartments), and a median house value of $636,788, real estate costs in Patchogue 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 Patchogue, accounting for 50.83% of the village's housing units. Other types of housing that are prevalent in Patchogue include large apartment complexes or high rise apartments ( 31.24%), duplexes, homes converted to apartments or other small apartment buildings ( 12.51%), and a few row houses and other attached homes ( 5.42%).
People in Patchogue primarily live in small (one, two or no bedroom) single-family detached homes. Patchogue has a mixture of owner-occupied and renter-occupied housing.
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. Patchogue's housing was primarily built during this period, from the '40s through the '60s. A full 29.95% of the village's housing hails from this era. Other housing ages represented in Patchogue include homes built between 1970-1999 ( 26.37%) and housing constructed before 1939 ( 25.30%). There's also some housing in Patchogue built between 2000 and later ( 18.38%).
In the last 10 years, Patchogue has experienced some of the highest home appreciation rates of any community in the nation. Patchogue real estate appreciated 119.05% over the last ten years, which is an average annual home appreciation rate of 8.16%, putting Patchogue in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Patchogue definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Patchogue that despite a nationwide downturn in the housing market, Patchogue real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Patchogue appreciation rates continue to be some of the highest in America, at 9.51%, which is higher than appreciation rates in 84.44% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Patchogue. Patchogue 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 Patchogue's latest annual appreciation rate is higher than 80% 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 Patchogue differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Patchogue - 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 Patchogue real estate investment or home purchase decisions.
$636,788
for New york
for nation
5,269
$4,353 / per month