Riverhead, NY

Population: 13,299
Average annual home appreciation rate: 5.53%
Total of homes for sale in this market: 176
Median home price: $335,290
Median Rent: $1,310 per room
Home price range: 39.81% of homes are between $308,001 – $410,000
Median sales price: $358,000
Number of homes: 157
Median foreclosure sales price: $275,000
Foreclosure discount: 23%
Most common home type: 52.35% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 8.71%
Number of renters: 42.45%
Number of owner occupied: 57.55%
Number people living below poverty level: 15.50%
Unemployment rate: 4.80%
Is this area perfect for real estate deals going on right now? With the history of positive appreciation in the Riverhead area, a rental property (based on the much higher than average rental rates) could be a profitable investment for the savvy buy and hold investor.

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