Russell Gardens, NY is an affluent neighborhood located in the heart of New York City. The median value for a house in this area is incredibly high at $1,485,100. This is nearly four and a half times higher than the median value for a house nationally, which stands at $338,100. Despite this incredibly high number, the appreciation rate of houses in Russell Gardens remains relatively close to the national average. In the past year, the national appreciation rate was 8.27%, while in Russell Gardens it was only slightly lower at 7.99%. Therefore, it's clear that even though housing prices are much higher here than they are elsewhere across the country, investments in real estate still remain sound for those looking to make a long-term commitment to living in this area.
The median home cost in Russell Gardens is $1,485,100. Home appreciation the last 10 years has been 70.5%. Home Appreciation in Russell Gardens is up 11.6%.
Average Age of Homes
- The median age of Russell Gardens real estate is 71 years old
The Rental Market in Russell Gardens
- Renters make up 27.6% of the Russell Gardens population
- 0.0% of houses and apartments in Russell Gardens, 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.