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 14,993, 5,191 total housing units (homes and apartments), and a median house value of $520,790, real estate costs in Riverhead 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 Riverhead, accounting for 56.75% of the town's housing units. Other types of housing that are prevalent in Riverhead include row houses and other attached homes ( 14.88%), large apartment complexes or high rise apartments ( 13.10%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.32%).
People in Riverhead primarily live in small (one, two or no bedroom) single-family detached homes. Riverhead has a mixture of owner-occupied and renter-occupied housing.
Riverhead homes and real estate are some of the newest in America. 35.69% of Riverhead's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Riverhead real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 27.54%), and between 1940-1969 ( 25.92%). There's also some housing in Riverhead built before 1939 ( 10.85%).
Appreciation rates for homes in Riverhead have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 102.06%, which ranks in the top 30% nationwide. This equates to an annual average Riverhead house appreciation rate of 7.29%.
NeighborhoodScout's data show that during the latest twelve months, Riverhead's appreciation rate, at 4.85%, has been at or slightly above the national average. In the latest quarter, Riverhead's appreciation rate has been 0.41%, which annualizes to a rate of 1.66%.
Relative to New York, our data show that Riverhead's latest annual appreciation rate is lower 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 town. Individual neighborhoods within Riverhead differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Riverhead - 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 Riverhead real estate investment or home purchase decisions.
$520,790
for New york
for nation
5,191
$3,437 / per month