Niagara Falls appreciation rates and housing market information

Niagara Falls housing market information

With 55,677 people, 27,836 houses or apartments, and a median cost of homes of $100,425, house prices in Niagara Falls are solidly below the national average.

single-family detached homes are the single most common housing type in Niagara Falls, accounting for 52.03% of the city's housing units. Other types of housing that are prevalent in Niagara Falls include duplexes, homes converted to apartments, or other small apartment buildings (30.41%), large apartment complexes or high rise apartments (14.35%), row houses and other attached homes (2.20%), and a few mobile homes or trailers (1.01%).

People in Niagara Falls primarily live in small (one, two, or no bedroom) single-family detached homes. Niagara Falls has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Niagara Falls's housing was primarily built during this period, from the '40s through the '60s. A full 50.50% of the city's housing hails from this era. Other housing ages represented in Niagara Falls include homes built between 1939 and earlier (37.20%), and housing constructed from 1970-1994 (11.43%). There's also some housing in Niagara Falls built between 1995 and later (.87%).

Vacant housing appears to be an issue in Niagara Falls. Fully 13.42% of the housing stock is classified as vacant. Left unchecked, vacant Niagara Falls homes and apartments can be a drag on the real estate market, holding Niagara Falls real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Niagara Falls home appreciation rates

Real estate appreciation rates in Niagara Falls have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.50% during the period.

Appreciation rates are so strong in Niagara Falls that despite a nationwide downturn in the housing market, Niagara Falls real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Niagara Falls appreciation rates continue to be some of the highest in America, at 5.49%, which is higher than appreciation rates in 92% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Niagara Falls. Niagara Falls appreciation rates in the latest quarter were at 2.90%, which equates to an annual appreciation rate of 11.60%.

Importantly, this makes Niagara Falls one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to New York, our data show that Niagara Falls's latest annual appreciation rate is higher than 96% of the other cities and towns in New York.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Niagara Falls differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Niagara Falls - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Niagara Falls real estate investment or home purchase decisions.