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 19,284 people, 7,178 houses or apartments, and a median cost of homes of $1,085,095, Melville house prices are not only among the most expensive in New York, Melville real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Melville, accounting for 57.10% of the town's housing units. Other types of housing that are prevalent in Melville include row houses and other attached homes ( 24.37%), large apartment complexes or high rise apartments ( 13.14%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.39%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Melville. Owner-occupied housing accounts for 87.15% of Melville's homes, and 48.62% have either three or four bedrooms, which is average sized relative to America.
Melville homes and real estate are some of the newest in America. 35.56% of Melville'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 Melville real estate market has to offer. Quite a bit of the housing here was also built between 1940-1969 ( 33.17%), and between 1970-1999 ( 26.92%). There's also some housing in Melville built before 1939 ( 4.36%).
Melville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Melville during the period has been just 5.23%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Melville's appreciation rate, at 7.57%, has been at or slightly above the national average. In the latest quarter, Melville's appreciation rate has been 2.82%, which annualizes to a rate of 11.77%.
Relative to New York, our data show that Melville's latest annual appreciation rate is higher than 60% 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 Melville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Melville - 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 Melville real estate investment or home purchase decisions.
$1,085,095
for New york
for nation
7,178
$5,291 / per month