New Paltz Real Estate Statistics
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Homes for sale in New Paltz, as everywhere, are guided by the laws of supply and demand. And with all those university students, faculty, and staff, plus an active weekend and vacation home population, demand averages on the high side for Ulster County, supporting higher home prices with taxes to match.
The so-called “buy-in,” or the least expensive New Paltz home that you can expect, that won't require extensive work or expansion to be livable, is in the $200,000 - $250,000 range. Annual property and school taxes under $3,000 per year are all but unheard of here. And land can easily fetch $20,000 to $30,000 an acre – well above the Ulster norm – depending on setting, location, views, and the like. View New Paltz NY Real Estate Listings.
On the other hand, New Paltz real estate's relatively large transient population also means a dependably strong rental market, short- and long-term. And rental income can help offset a higher purchase price and the heftier property taxes that often go along with it.
Living in New Paltz, NY
Though the village itself is small, not quite two square miles, its full-time population of just over 6,000 is matched by an equal enrollment at SUNY (State University of New York) New Paltz, whose campus is just a short distance off the village's main street. That helps account for a recent census finding that over 65 percent of the population was 24 years old or younger, with a median age of 22. And with Newsweek Magazine naming SUNY New Paltz the “hottest small state school in the country” in 2008, none of that is likely to change. If Kingston is Ulster County's “big city,” then New Paltz is Ulster's “University.”
The location could hardly offer more:
New Paltz, NY Natural Beauty
Easily visible to the west is the Shawangunk Ridge, a mountainously sheer wall of granite known to rock climbers throughout the country. Nearer yet is the vast, protected acreage of the Mohonk Preserve and the Minnewaska State Park Preserve. And closest of all to New Paltz real estate, the 15-mile Wallkill Valley Rail Trail that runs along the former Wallkill Valley Railroad route cuts right through town, and is handy for all the hikers, joggers, bikers, horseback riders, and cross country skiers it was built for.
New Paltz, NY Location & Convenience
Just to the east is the Thruway exit (18), from which you're an easy 80 miles south to New York City. (Trailways of New York also runs frequent bus service directly from New Paltz to the Port Authority Bus Terminal, and Ulster County Area Transit buses make regular runs to Poughkeepsie where you can pick up Metro-North to Grand Central Terminal). Stewart Airport, which is perennially expected to expand into the area's fourth major airport, is just 30 minutes down the Thruway.
Which means it's often easier to get out of town than through town. Route 299, a well-used east-west thoroughfare, shrivels to a narrow, two-lane Main Street as it threads its way through the village, lined nonstop on both sides with bustling eateries, boutiques, craft stores, curio stops, bicycle shops, and the like. The result, at peak traffic times when school is in session, can be a half-hour crawl from one end of town to the other. It's worth getting to know the many shortcuts and go-arounds that the locals use.
Locals also know that the “college” part of this college town pretty much stops at the border of the little Village of New Paltz. At that point, the much larger Town of New Paltz quickly reverts to the kind of peacefully rural haven more typical of Ulster. In that sense, New Paltz real estate offers the best of both worlds.
In fact, it's easy to be so caught up in all the next-generation, high-spirited busy-ness that you miss something else the locals know: Founded in 1677 by German Calvinists, real estate in New Paltz is quietly rich in historical architecture. Sturdy old farmhouses and rustic stone structures generously dot the landscape. Consider that Huguenot Street, which was the commercial center of the original settlement, still boasts so many Seventeenth Century stone buildings that it is considered a “museum community,” and has been designated a National Historic Landmark, claiming the distinction of being “the oldest street in America in a continuous state of habitation.” Students graduate and move on. But deep roots stay put.
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If at any time you have questions about real estate in New Paltz or the surrounding Ulster County area, please don’t hesitate to contact Dylan Taft, Principal Broker/Owner, Taft Street Realty, Inc. - 845.687.9292 office or 845.380.3394 mobile.
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