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 2,993, 1,114 total housing units (homes and apartments), and a median house value of $435,961, Greenwood Lake real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Greenwood Lake, accounting for 85.06% of the village's housing units. Other types of housing that are prevalent in Greenwood Lake include duplexes, homes converted to apartments or other small apartment buildings ( 9.80%), row houses and other attached homes ( 3.38%), and a few large apartment complexes or high rise apartments ( 1.76%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Greenwood Lake. Owner-occupied housing accounts for 73.97% of Greenwood Lake's homes, and 59.27% 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. Greenwood Lake's housing was primarily built during this period, from the '40s through the '60s. A full 55.18% of the village's housing hails from this era. Other housing ages represented in Greenwood Lake include homes built before 1939 ( 26.00%) and housing constructed between 1970-1999 ( 14.16%). There's also some housing in Greenwood Lake built between 2000 and later ( 4.65%).
Vacant housing appears to be an issue in Greenwood Lake. Fully 21.49% of the housing stock is classified as vacant. Left unchecked, vacant Greenwood Lake homes and apartments can be a drag on the real estate market, holding Greenwood Lake real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Greenwood Lake have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 96.80%, which ranks in the top 40% nationwide. This equates to an annual average Greenwood Lake house appreciation rate of 7.00%.
NeighborhoodScout's data show that during the latest twelve months, Greenwood Lake's appreciation rate, at 6.34%, has been at or slightly above the national average. In the latest quarter, Greenwood Lake's appreciation rate has been 0.58%, which annualizes to a rate of 2.34%.
Notably, Greenwood Lake's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Greenwood Lake's latest annual appreciation rate is lower than 50% of the other cities and towns in New York.
$435,961
$1,815 / per month