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 455, 228 total housing units (homes and apartments), and a median house value of $243,439, house prices in Hemlock are solidly below the national average.
Hemlock is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Hemlock 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 Hemlock. Owner-occupied housing accounts for 100.00% of Hemlock's homes, and 74.64% have either three or four bedrooms, which is average sized relative to America.
The housing in Hemlock was primarily built before 1939 ( 55.36%), making the housing stock in Hemlock some of the oldest overall in America, although there is a range of ages of homes in Hemlock. The next most important housing age is between 1970-1999 ( 44.64%), followed by between 1940-1969 ( 0.00%).
Vacant housing appears to be an issue in Hemlock. Fully 18.57% of the housing stock is classified as vacant. Left unchecked, vacant Hemlock homes and apartments can be a drag on the real estate market, holding Hemlock 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.
Real estate appreciation rates in Hemlock's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.42% during the period.
Appreciation rates are so strong in Hemlock that despite a nationwide downturn in the housing market, Hemlock real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hemlock appreciation rates continue to be some of the highest in America, at 8.40%, which is higher than appreciation rates in 74.45% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hemlock. Hemlock appreciation rates in the latest quarter were at 5.43%, which equates to an annual appreciation rate of 23.58%.
Importantly, this makes Hemlock 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 Hemlock's latest annual appreciation rate is higher than 70% of the other cities and towns in New York.
$243,439
for New york
for nation
228
$2,428 / per month