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 10,450 people, 2,742 houses or apartments, and a median cost of homes of $974,780, Chestnut Ridge house prices are not only among the most expensive in New York, Chestnut Ridge real estate also is some of the most expensive in all of America.
Chestnut Ridge is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Chestnut Ridge 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 Chestnut Ridge. Owner-occupied housing accounts for 75.21% of Chestnut Ridge's homes, and 70.46% 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. Chestnut Ridge's housing was primarily built during this period, from the '40s through the '60s. A full 52.16% of the village's housing hails from this era. Other housing ages represented in Chestnut Ridge include homes built between 1970-1999 ( 34.62%) and housing constructed before 1939 ( 10.29%). There's also some housing in Chestnut Ridge built between 2000 and later ( 2.93%).
In the last 10 years, Chestnut Ridge has experienced some of the highest home appreciation rates of any community in the nation. Chestnut Ridge real estate appreciated 127.49% over the last ten years, which is an average annual home appreciation rate of 8.57%, putting Chestnut Ridge in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Chestnut Ridge 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 Chestnut Ridge that despite a nationwide downturn in the housing market, Chestnut Ridge real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Chestnut Ridge appreciation rates continue to be some of the highest in America, at 13.39%, which is higher than appreciation rates in 96.00% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Chestnut Ridge. Chestnut Ridge 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 Chestnut Ridge's latest annual appreciation rate is higher than 90% of the other cities and towns in New York.
$974,780
for New york
for nation
2,742
$5,485 / per month