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 11,338 people, 4,663 houses or apartments, and a median cost of homes of $582,032, real estate costs in Suffern 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.
Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Suffern, accounting for 34.79% of the village's housing units. Other types of housing that are prevalent in Suffern include single-family detached homes ( 26.24%), large apartment complexes or high rise apartments ( 22.66%), and a few row houses and other attached homes ( 16.31%). Villages that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of villages are often walkable and compact, and often have a lively downtown.
Dwellings in Suffern tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 60.06% of the homes in Suffern have two or fewer bedrooms.
There is a lot of housing in Suffern 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 Suffern built between 1940-1969 ( 26.59%). A lesser amount of the housing stock also hails from before 1939 ( 21.97%). There's also some housing in Suffern built between 2000 and later ( 2.93%).
Real estate appreciation rates in Suffern's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.01% during the period.
Appreciation rates are so strong in Suffern that despite a nationwide downturn in the housing market, Suffern real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Suffern appreciation rates continue to be some of the highest in America, at 10.85%, which is higher than appreciation rates in 90.62% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Suffern. Suffern 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 Suffern's latest annual appreciation rate is higher than 80% of the other cities and towns in New York.
One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Suffern differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Suffern - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Suffern real estate investment or home purchase decisions.
$582,032
for New york
for nation
4,663
$3,902 / per month