Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 8,226 people, 2,640 houses or apartments, and a median cost of homes of $299,657, Corning real estate values are some of the lowest in California, although compared to real estate around the nation, Corning homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Corning, accounting for 68.54% of the city's housing units. Other types of housing that are prevalent in Corning include large apartment complexes or high rise apartments ( 13.35%), mobile homes or trailers ( 9.25%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.83%).
The most prevalent building size and type in Corning are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 52.08% owning and 47.92% renting.
There is a lot of housing in Corning built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Corning built between 1940-1969 ( 35.88%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.59%). There's also some housing in Corning built before 1939 ( 6.59%).
In the last 10 years, Corning has experienced some of the highest home appreciation rates of any community in the nation. Corning real estate appreciated 130.56% over the last ten years, which is an average annual home appreciation rate of 8.71%, putting Corning in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Corning definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Corning appreciation rates have trailed the rest of the nation. In the last twelve months, Corning's appreciation rate has been -0.20%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Corning were at 2.50%, which equates to an annual appreciation rate of 10.36%.
Importantly, this makes Corning 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 California, our data show that Corning's latest annual appreciation rate is lower than 80% of the other cities and towns in California.
$299,657
for California
for nation
2,640
$1,415 / per month