Riverhead’s Affordable Housing Revolution: Why This Suffolk County Gem Is Becoming the Go-To Destination for First-Time Homebuyers in 2025

As housing costs continue to soar across Long Island, one Suffolk County community is emerging as a beacon of hope for first-time homebuyers. Riverhead, once known primarily as a gateway to the Hamptons, is transforming into an affordable housing destination that’s attracting young professionals, families, and first-time buyers from across the region.

The Northville Commons Breakthrough

The Town Board on Wednesday unanimously approved zoning changes that will finally allow a long-envisioned affordable housing and community center project to move forward on Northville Turnpike. The project, known as Northville Commons, is proposed by the Family Community Life Center — a nonprofit affiliate of the First Baptist Church of Riverhead — and its development partner, Georgica Green Ventures (GGV). Plans call for approximately 80 subsidized rental apartments, five owner-occupied condominiums, a community center, and other uses on a 12.5-acre site adjacent to the church.

The updated code expands eligibility to households earning between 50% and 130% of AMI, which project backers say is more realistic for the Riverhead community. The 2025 HUD AMI for the Nassau-Suffolk region is $164,900 for a four-person household, $148,400 for a three-person household, $131,900 for a two-person household, and $115,450 for a one-person household. This expanded income range makes homeownership accessible to a broader segment of working families.

A Housing Market in Transition

Riverhead’s housing market is experiencing a unique moment of opportunity for buyers. Riverhead is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time. The median home sold price in Riverhead was $580,833 in May 2025, up 2.8% from last year, and the median price per square foot was $358.

This represents a significant value proposition compared to other Long Island markets. The median sale price of a home in Riverhead was $535K last month, up 2.4% since last year. On average, homes in Riverhead sell after 43 days on the market compared to 49 days last year. The relatively modest price increases and reasonable time on market create favorable conditions for first-time buyers.

Comprehensive Support for First-Time Buyers

Suffolk County is actively supporting first-time homebuyers through various assistance programs. Suffolk County is accepting applications for a down payment assistance program, which provides eligible first-time homebuyers up to $30,000 on a purchase of a single-family residence, County Executive Ed Romaine announced Monday. The program, which was launched in 1993, provides eligible, first-time homebuyers with a conditional grant of up to $30,000 to use toward their down payment.

Additional support comes through programs like the Homebuyer Dream Program, where qualifying annual income up to $258,552 (120% of Area Median Income) for a three-family household in Nassau or Suffolk County! We can assist qualifying first-time homebuyers in New York in obtaining a generous grant from the FHLBNY to use towards your home’s down payment and closing costs.

Why Riverhead Appeals to First-Time Buyers

The appeal extends beyond just affordability. “We house a lot of the workforce for the North and South Fork, but it’s important for our community to have people who can invest, live and take pride in the community,” Ms. Thomas said. “It’s [about] regular people with a job, who are trying to get by and not have to drive 40 miles to work everyday. [People who] just [want to] be part of a community, be able to take your child to the little league … to be able to use the local library — all of those things that become harder when you live further away from where you work.”

There Are Currently 196 Units Available in the Riverhead Housing Development Corproration. These Low-income Housing Units Consist of Section 8, Public Housing, and Low-income Housing Tax Credit Properties. the Riverhead Housing Development Corproration Serves the Riverhead, Metropolitan Area.

The Moving Experience: Professional Support for Your Transition

As first-time buyers make the move to Riverhead, many are discovering the importance of working with experienced local service providers. For those planning a relocation to this growing community, professional Moving Companies Riverhead can provide the expertise needed for a smooth transition.

Avatar Relocation is a high-quality family-owned and family-operated Riverhead moving company who have been one of the reliable Riverhead moving companies serving Riverhead families and businesses for over 85 years. Since our founding in 1933, Avatar Relocation has been providing high-quality moving & storage company services to Riverhead NY and surrounding communities. Their long-standing presence in the community reflects the area’s growth and the increasing demand for professional moving services.

Market Dynamics Favor Buyers

Current market conditions in Riverhead present opportunities for strategic buyers. A total of 28 homes were sold or pending in Riverhead in May 2025, down by 9.7% month-over-month. Of the 28 sold homes, 39% were sold under asking, 25% were sold at asking, and and 36% were sold over asking. This distribution suggests that negotiation opportunities exist for well-prepared buyers.

Future Growth and Development

Riverhead’s commitment to affordable housing extends beyond individual projects. “This is something that I’ve supported from day one … I think it’s going to be a huge benefit to the Town of Riverhead and to our local people,” Supervisor Tim Hubbard said. “We’re losing too many young people [who are] moving off Long Island, [because they] can’t afford to live here and the cost is very expensive. I think this is going to be a project in the right direction in keeping our young people here.”

The town’s proactive approach to zoning changes and affordable housing development signals a long-term commitment to maintaining accessibility for working families and young professionals.

Taking Action in 2025

For first-time buyers considering Riverhead, the timing appears favorable. The combination of reasonable home prices, expanded affordable housing options, substantial down payment assistance programs, and a community-focused approach to development creates a compelling case for making the move.

With applications for Suffolk County’s down payment assistance program being accepted through April 1, 2025, and new affordable housing projects moving forward, Riverhead represents a unique opportunity for first-time buyers to establish roots in a community that’s actively working to remain accessible and welcoming to new residents.

As Long Island’s housing market continues to evolve, Riverhead stands out as a community that’s not just talking about affordability – it’s taking concrete steps to make homeownership a reality for the next generation of Suffolk County residents.