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 14,993 people, 5,191 houses or apartments, and a median cost of homes of $579,136, real estate costs in Riverhead 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 Riverhead, accounting for 56.75% of the town's housing units. Other types of housing that are prevalent in Riverhead include row houses and other attached homes ( 14.88%), large apartment complexes or high rise apartments ( 13.10%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.32%).
People in Riverhead primarily live in small (one, two or no bedroom) single-family detached homes. Riverhead has a mixture of owner-occupied and renter-occupied housing.
Riverhead homes and real estate are some of the newest in America. 35.69% of Riverhead's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Riverhead real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 27.54%), and between 1940-1969 ( 25.92%). There's also some housing in Riverhead built before 1939 ( 10.85%).
In the last 10 years, Riverhead has experienced some of the highest home appreciation rates of any community in the nation. Riverhead real estate appreciated 121.28% over the last ten years, which is an average annual home appreciation rate of 8.27%, putting Riverhead in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Riverhead 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 Riverhead that despite a nationwide downturn in the housing market, Riverhead real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Riverhead appreciation rates continue to be some of the highest in America, at 10.35%, which is higher than appreciation rates in 88.87% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Riverhead. Riverhead 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 Riverhead'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 town. Individual neighborhoods within Riverhead differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Riverhead - 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 Riverhead real estate investment or home purchase decisions.
$579,136
for New york
for nation
5,191
$3,613 / per month