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 8,323, 2,221 total housing units (homes and apartments), and a median house value of $535,825, New Paltz real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in New Paltz, accounting for 42.65% of the village's housing units. Other types of housing that are prevalent in New Paltz include single-family detached homes ( 27.15%), duplexes, homes converted to apartments or other small apartment buildings ( 26.94%), and a few row houses and other attached homes ( 3.26%). Villages with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact villages that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
New Paltz is dominated by renter-occupied one, two, or no bedrooms apartments. 81.50% of New Paltz's dwellings are rentals.
There is a lot of housing in New Paltz built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in New Paltz built before 1939 ( 23.04%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.66%). There's also some housing in New Paltz built between 1940-1969 ( 21.14%).
Appreciation rates for homes in New Paltz have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 105.32%, which ranks in the top 30% nationwide. This equates to an annual average New Paltz house appreciation rate of 7.46%.
Appreciation rates are so strong in New Paltz that despite a nationwide downturn in the housing market, New Paltz real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Paltz appreciation rates continue to be some of the highest in America, at 16.41%, which is higher than appreciation rates in 98.26% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Paltz. New Paltz appreciation rates in the latest quarter were at 2.03%, which equates to an annual appreciation rate of 8.38%.
Relative to New York, our data show that New Paltz's latest annual appreciation rate is higher than 90% of the other cities and towns in New York.
$535,825
for New york
for nation
2,221
$2,471 / per month