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 22,040, 7,081 total housing units (homes and apartments), and a median house value of $941,525, Merrick house prices are not only among the most expensive in New York, Merrick real estate also is some of the most expensive in all of America.
Merrick is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Merrick than is found in 98% of the communities in America.
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Merrick. Owner-occupied housing accounts for 95.41% of Merrick's homes, and 79.50% 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. Merrick's housing was primarily built during this period, from the '40s through the '60s. A full 60.50% of the town's housing hails from this era. Other housing ages represented in Merrick include homes built before 1939 ( 20.73%) and housing constructed between 1970-1999 ( 11.71%). There's also some housing in Merrick built between 2000 and later ( 7.05%).
Merrick's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Merrick during the period has been just 5.53%, which is lower than 70% of US communities.
Appreciation rates are so strong in Merrick that despite a nationwide downturn in the housing market, Merrick real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Merrick appreciation rates continue to be some of the highest in America, at 9.08%, which is higher than appreciation rates in 81.42% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Merrick. Merrick 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 Merrick's latest annual appreciation rate is higher than 70% 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 town. Individual neighborhoods within Merrick differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Merrick - 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 Merrick real estate investment or home purchase decisions.
$941,525
for New york
for nation
7,081
$4,951 / per month