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 16,567 people, 5,714 houses or apartments, and a median cost of homes of $638,069, real estate costs in Pearl River 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 Pearl River, accounting for 71.20% of the town's housing units. Other types of housing that are prevalent in Pearl River include large apartment complexes or high rise apartments ( 14.15%), duplexes, homes converted to apartments or other small apartment buildings ( 10.98%), and a few row houses and other attached homes ( 3.67%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Pearl River. Owner-occupied housing accounts for 75.40% of Pearl River's homes, and 63.28% 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. Pearl River's housing was primarily built during this period, from the '40s through the '60s. A full 54.89% of the town's housing hails from this era. Other housing ages represented in Pearl River include homes built between 1970-1999 ( 22.34%) and housing constructed before 1939 ( 13.26%). There's also some housing in Pearl River built between 2000 and later ( 9.51%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Pearl River, where house values have increased just 53.90%, which is annualized rate of 4.41%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Pearl River that despite a nationwide downturn in the housing market, Pearl River real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Pearl River appreciation rates continue to be some of the highest in America, at 10.41%, which is higher than appreciation rates in 89.08% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Pearl River. Pearl River 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 Pearl River's latest annual appreciation rate is higher than 80% of the other cities and towns in New York.
$638,069
for New york
for nation
5,714
$3,543 / per month