Patterson, NY—12563
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Patterson, NY
As of Oct '25, the median home price in Patterson, NY is $459,000, with a year-over-year change of 2.8%. This indicates that home prices in Patterson, NY are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $459,000 | 2.8% |
| Single Family | $469,000 | 3.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $258,000 | 0.0% |
2 Bed | $369,000 | 2.8% |
3 Bed | $493,000 | 3.4% |
4 Bed | $652,000 | 3.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Patterson, NY
As of July '25, Rentcast reports the average rent in Patterson, NY is $3,020, with a year-over-year rent change of 1.3%. Per bedroom, the median rent as of July '25 in Patterson, NY is 1-bedrooms: $2,450, 2-bedrooms: $2,600, 3-bedrooms: $3,200, 4-bedrooms: $4,150. The most common rental property sizes in Patterson, NY are 2-bedroom and 3-bedroom, accounting for 40.6% and 29.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $3,020 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $2,400 | $2,450 |
| 2 Bed Rent | $2,500 | $2,600 |
| 3 Bed Rent | $3,200 | $3,200 |
| 4 Bed Rent | $3,500 | $4,150 |
% of Rental Stock
Property Listings — Patterson, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Patterson, NY is 44. This is a increase of 11.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 6.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $552,000 | 15.0% |
Listing Count | 32 | 76.0% |
| Listings as % of Homes | 1.2% | 76.0% |
Days on Market | 44 | 11.0% |
Demographics — Patterson, NY
As of the latest ACS Survey released in 2023, Patterson, NY has a population of 7,460, which has decreased by -12.8% over the past 5 years. Patterson, NY is a moderately popular place for families, as children make up 15.3% of the population. The area has a moderately educated workforce, with 28.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,460 | -12.8% |
% Under 18 | 15.3% | -13.6% |
% Seniors | 12.8% | 3.2% |
% WFH | 10.9% | 179.5% |
% w/ College Degree | 28.5% | -8.1% |
As of the latest ACS Survey released in 2023, Patterson, NY is a predominantly white area, with 68.9% of the population identifying as white. The white population has shrunk by 3.0% in the last 5 years. The second most common race or ethnicity in Patterson, NY is hispanic, making up 17.2% of the population. Foreign-born residents account for 14.4% of the population in Patterson, NY, and this percentage has increased by 34.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 68.9% | -3.0% |
% Black | 8.9% | 71.2% |
% Hispanic | 17.2% | -18.9% |
% Asian | 1.8% | -10.0% |
% Foreign Born | 14.4% | 34.6% |
Mortgage and Risk — Patterson, NY
According to HUD data as of 2023, there were 102 mortgage originations in Patterson, NY, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Patterson, NY. Investor activity is low, as 0.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 102 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Patterson, NY
As of 2024, the percent of homes in Patterson, NY under the Section 8 program is 9.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Patterson, NY, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 37 |
Total Units Section 8 | 31 |
% Rentals under Section 8 | 9.1% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$190 | $2,400 | $2,210 |
| 2 Bedroom | -$20 | $2,500 | $2,480 |
| 3 Bedroom | -$100 | $3,200 | $3,100 |
| 4 Bedroom | -$170 | $3,500 | $3,330 |
Affordability — Patterson, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $459,000 |
| Median Household Income | $102,000 |