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 21,583, 8,189 total housing units (homes and apartments), and a median house value of $439,460, Penfield real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Penfield, accounting for 76.22% of the town's housing units. Other types of housing that are prevalent in Penfield include row houses and other attached homes ( 11.21%), large apartment complexes or high rise apartments ( 8.20%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.37%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Penfield. Owner-occupied housing accounts for 84.46% of Penfield's homes, and 73.07% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Penfield built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Penfield built between 1940-1969 ( 25.66%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.58%). There's also some housing in Penfield built before 1939 ( 6.31%).
Appreciation rates for homes in Penfield have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 94.26%, which ranks in the top 50% nationwide. This equates to an annual average Penfield house appreciation rate of 6.87%.
Appreciation rates are so strong in Penfield that despite a nationwide downturn in the housing market, Penfield real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Penfield appreciation rates continue to be some of the highest in America, at 8.81%, which is higher than appreciation rates in 79.18% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Penfield. Penfield appreciation rates in the latest quarter were at 5.43%, which equates to an annual appreciation rate of 23.57%.
Importantly, this makes Penfield one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to New York, our data show that Penfield's latest annual appreciation rate is higher than 70% of the other cities and towns in New York.
$439,460
for New york
for nation
8,189
$2,085 / per month