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 14,290 people, 5,815 houses or apartments, and a median cost of homes of $642,156, real estate costs in Beacon 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 Beacon, accounting for 55.52% of the city's housing units. Other types of housing that are prevalent in Beacon include large apartment complexes or high rise apartments ( 20.41%), duplexes, homes converted to apartments or other small apartment buildings ( 17.53%), and a few row houses and other attached homes ( 6.54%).
The most prevalent building size and type in Beacon are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.86% owning and 40.14% renting.
The housing in Beacon was primarily built before 1939 ( 39.61%), making the housing stock in Beacon some of the oldest overall in America, although there is a range of ages of homes in Beacon. The next most important housing age is between 1940-1969 ( 28.39%), followed by between 1970-1999 ( 21.45%). There's also some housing in Beacon built between 2000 and later ( 10.54%).
In the last 10 years, Beacon has experienced some of the highest home appreciation rates of any community in the nation. Beacon real estate appreciated 147.01% over the last ten years, which is an average annual home appreciation rate of 9.46%, putting Beacon in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Beacon 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 Beacon that despite a nationwide downturn in the housing market, Beacon real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Beacon appreciation rates continue to be some of the highest in America, at 11.36%, which is higher than appreciation rates in 92.15% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Beacon. Beacon appreciation rates in the latest quarter were at 0.58%, which equates to an annual appreciation rate of 2.34%.
Notably, Beacon's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Beacon's latest annual appreciation rate is higher than 90% 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 city. Individual neighborhoods within Beacon differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Beacon - 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 Beacon real estate investment or home purchase decisions.
$642,156
for New york
for nation
5,815
$2,556 / per month