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 4,969 people, 1,773 houses or apartments, and a median cost of homes of $747,523, Island Park house prices are not only among the most expensive in New York, Island Park 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 Island Park, accounting for 47.78% of the village's housing units. Other types of housing that are prevalent in Island Park include duplexes, homes converted to apartments or other small apartment buildings ( 43.07%), large apartment complexes or high rise apartments ( 7.78%), and a few row houses and other attached homes ( 1.38%).
The most prevalent building size and type in Island Park are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 51.14% owning and 48.87% renting.
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. Island Park's housing was primarily built during this period, from the '40s through the '60s. A full 59.58% of the village's housing hails from this era. Other housing ages represented in Island Park include homes built between 1970-1999 ( 15.66%) and housing constructed before 1939 ( 13.76%). There's also some housing in Island Park built between 2000 and later ( 11.01%).
Appreciation rates for homes in Island Park have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 106.62%, which ranks in the top 30% nationwide. This equates to an annual average Island Park house appreciation rate of 7.53%.
Appreciation rates are so strong in Island Park that despite a nationwide downturn in the housing market, Island Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Island Park appreciation rates continue to be some of the highest in America, at 14.13%, which is higher than appreciation rates in 96.78% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Island Park. Island Park 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 Island Park's latest annual appreciation rate is higher than 90% of the other cities and towns in New York.
$747,523
$4,242 / per month