Table of Content
- Suffolk County, NY Real Estate & Homes for Sale
- How hot is the Suffolk County housing market?
- Schools in Suffolk County
- How to buy a home in Suffolk County, NY
- Median Home Price
- Historical Data for Annual Rent as a Fraction of Income in Suffolk County New York
- Real Median Family Income: Suffolk County, New York, National
The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Suffolk County median and average rent data will be released in September of 2021. In cases of extreme property tax delinquency, the Suffolk County Tax Board may seize the delinquent property and offer it for sale at a public tax foreclosure auction, often at a price well under market value. Proceeds of the sale first go to pay the property's tax lien, and additional proceeds may be remitted to the original owner. The residential median sale price is calculated using all non-condo, arms-length sales from January 1st of any given year to January 1st of the following year. The middle value of the data set is the median sale price for that given year's data.
The Federal Housing Finance Agency conducts an annual survey to determine the median home prices in each county or metro area in the US. Median home price is then used to determine the loan limits in Suffolk County. The fraction of median Suffolk County household income required to pay median monthly gross rent peaked in at 22.05%.
Suffolk County, NY Real Estate & Homes for Sale
The Department of Numbers contextualizes public data so that individuals can form independent opinions on everyday social and economic matters. Fire risk estimates the risk of wildfires, based on the likelihood of burning in the future and the potential size and severity of a fire. Of homes in Suffolk County are required to have flood insurance. This area's enrollment policy is not based solely on geography. Based on Redfin calculations of home data from MLS and/or public records.
As with the median household and median family income numbers above, 2022 per capita income data for Suffolk County will be released in September of 2023. The Census ACS 1-year survey reports that the median household income for the Suffolk County New York area was $113,683 in 2021, the latest figures available. Suffolk County median household income is $39,369 higher than the median New York household income and $43,966 greater than the US median household income. Median family and per capita income for Suffolk County are shown below.
How hot is the Suffolk County housing market?
Tax-Rates.org provides free access to tax rates, calculators, and more. Proceeds from the Suffolk County Personal Property Tax are used locally to fund school districts, public transport, infrastructure, and other municipal government projects. Property tax income is almost always used for local projects and services, and does not go to the federal or state budget. The median home price in Suffolk County was $535,000 in August, a record high for the county, according to a report from OneKey MLS, as cited in Newsday. ClimateCheck™ analyzes a property's risk from climate change using the latest modeling and data from climate scientists, universities, and federal agencies. The average sale price of a home in Suffolk County was $545K last month, up 4.8% since last year.
You can usually deduct 100% of your Suffolk County property taxes from your taxable income on your Federal Income Tax Return as an itemized deduction. New York may also let you deduct some or all of your Suffolk County property taxes on your New York income tax return. Unlike other taxes which are restricted to an individual, the Suffolk County Property Tax is levied directly on the property. Unpaid property tax can lead to a property tax lien, which remains attached to the property's title and is the responsibility of the current owner of the property.
Schools in Suffolk County
The average yearly property tax paid by Suffolk County residents amounts to about 7.57% of their yearly income. Suffolk County is ranked 8th of the 3143 counties for property taxes as a percentage of median income. The median property tax in Suffolk County, New York is $7,192 per year for a home worth the median value of $424,200. Suffolk County collects, on average, 1.7% of a property's assessed fair market value as property tax. The median monthly gross residential rent in Suffolk County NY was $1,796 in 2019 according to the Census ACS survey.1 Average gross rent in Suffolk County was $1,747 in 2019.
The tables above provide a complete breakdown of 2022 loan limits in Suffolk County, NY for FHA Loans, Conforming Loans, VA Loans, and HECM Reverse Mortgages. Contact (or @deptofnumbers on Twitter) if you have any questions, comments or suggestions. Real per capita income peaked in 2020 at $52,127 and is now $905 (1.74%) lower. Most county assessors' offices are located in or near the county courthouse or the local county administration building. You can look up the Suffolk County Assessor's contact information here .
The ACS 1-year data shows the median family income for Suffolk County was $132,580 in 2021. Compared to the median New York family income, Suffolk County median family income is $40,126 higher. As with the median household income data, 2022 family income data for Suffolk County will be released in September of 2023. The Suffolk County Tax Assessor is responsible for assessing the fair market value of properties within Suffolk County and determining the property tax rate that will apply.
The Tax Assessor's office can also provide property tax history or property tax records for a property. These property tax records are excellent sources of information when buying a new property or appealing a recent appraisal. Instead, we provide property tax information based on the statistical median of all taxable properties in Suffolk County. The median property tax amount is based on the median Suffolk County property value of $424,200. You can use these numbers as a reliable benchmark for comparing Suffolk County's property taxes with property taxes in other areas. To compare Suffolk County with property tax rates in other states, see our map of property taxes by state.
Data is also available below for Suffolk County rental vacancy rates, Suffolk County rent as a percent of median income and the fraction of renters in Suffolk County. The ACS 1-year survey shows the per capita income for Suffolk County was $51,222 in 2021. Compared to the median New York per capita income, Suffolk County median per capita income is $8,144 higher.
Median home prices in each county in July were $670,000 and $525,000, respectively. Drought risk is based on water stress, which estimates how much of the future water supply will be used for human purposes, like watering the lawn. Flood risk data is provided by Risk Factor™, a product of the nonprofit First Street Foundation. Risk Factor™ is a peer reviewed scientific model, designed to approximate flood risk and not intended to include all possible risks of flood. Conforming loan limits are published by Federal Housing Finance Agency .
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