Mineola is considered one of the healthiest housing markets in New York State, according to a new study by SmartAsset, a Manhattan-based financial technology company.
The study ranked nearly 160 of the state’s communities on the health of their housing markets by looking at the average number of years residents spend in their homes, home values and ease of sale, as well as the affordability of home ownership.
Mineola was the only Long Island community in the top 10, coming in at No. 9, with residents living in their homes an average of 18.1 years and just 2.8 percent of homeowners with negative equity, or those who are more likely to go into foreclosure.
Only 3.4 percent of homes in Mineola saw a decrease in value and homes there stay on the market an average of just under 53 days, according to the study.
The study also looked at the monthly cost of owning a home as a percentage of household income, finding that monthly home costs in Mineola are an average of 23.2 percent of income.
Residents in the No. 1 community on the list — Depew, New York, a village 10 miles east of Buffalo — stay in their homes an average of 19.3 years, with 2.9 percent having negative equity and just 1.5 percent of homes decreasing in value. Homes in Depew stay on the market an average of 34.2 days. Homeowners in Depew spend 19 percent of their income on monthly homeownership costs.