Riverhead, NY is an expensive housing market compared to the national average. The median value of a house in Riverhead was recently determined to be around $650,100, while the US House median value is $338,100. This is almost double the national average. In addition to being more expensive than the rest of the country, appreciation in Riverhead has been faster over the past year. The US 1 year House Appreciation rate was 8.27%, while Riverhead's 1 year appreciation rate was 12.45%. This indicates a healthy and growing housing market in Riverhead that shows no signs of slowing down anytime soon.
The median home cost in Riverhead is $650,100. Home appreciation the last 10 years has been 81.1%. Home Appreciation in Riverhead is up 15.5%.
Average Age of Homes
- The median age of Riverhead real estate is 35 years old
The Rental Market in Riverhead
- Renters make up 19.5% of the Riverhead population
- 0.7% of houses and apartments in Riverhead, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.