Corning, IA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Corning Neighborhoods Since 2000




Corning, IA Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Corning Housing Market Information

With 1,537 people, 731 houses or apartments, and a median cost of homes of $101,340, house prices in Corning are solidly below the national average.

Single-family detached homes are the single most common housing type in Corning, accounting for 81.02% of the city's housing units. Other types of housing that are prevalent in Corning include large apartment complexes or high rise apartments ( 7.80%), duplexes, homes converted to apartments or other small apartment buildings ( 5.88%), and a few mobile homes or trailers ( 4.52%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Corning. Owner-occupied housing accounts for 67.83% of Corning's homes, and 53.79% have either three or four bedrooms, which is average sized relative to America.

The housing in Corning was primarily built before 1939 ( 41.36%), making the housing stock in Corning some of the oldest overall in America, although there is a range of ages of homes in Corning. The next most important housing age is between 1940-1969 ( 32.43%), followed by between 1970-1999 ( 21.24%). There's also some housing in Corning built between 2000 and later ( 4.97%).

Vacant housing appears to be an issue in Corning. Fully 17.40% of the housing stock is classified as vacant. Left unchecked, vacant Corning homes and apartments can be a drag on the real estate market, holding Corning 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.

Corning Home Appreciation Rates

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 28.00% over the last ten years, which is an average annual home appreciation rate of 2.50%, 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.

NeighborhoodScout's data show that during the latest twelve months, Corning's appreciation rate, at 4.88%, has been at or slightly above the national average. In the latest quarter, Corning's appreciation rate has been 0.99%, which annualizes to a rate of 4.00%.

Relative to Iowa, our data show that Corning's latest annual appreciation rate is higher than 70% of the other cities and towns in Iowa.

Average Home Values

 

Median Home Value:
$101,340

Corning, IA HOME PRICES

Value Range
> $1,118,000 0.4
$838,001 - $1,118,000 0.5
$559,001 - $838,000 0.0
$447,001 - $559,000 0.6
$336,001 - $447,000 2.7
$224,001 - $336,000 5.4
$112,001 - $224,000 29.0
$56,001 - $112,000 39.5
$0 - $56,000 22.0

Low for IA
Low for Nation

Value Relative to Nation Value Relative to State
76.7783897808508 74.5679012345679

Number Of Homes And Apartments:
731

Corning Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
59.35% 2.74% 8 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$731 / per month

Homeownership Rate

Homeownership
Owners 67.83
Renters 32.17
Vacant 17.40

Housing Market Details

 

Age of Homes

AGE OF Corning HOMES
2000 or Newer 5.0
1970 - 1999 21.2
1940 - 1969 32.4
1939 or Older 41.4

Types of Homes

TYPE OF Corning HOMES
Single-Family 81.0
Townhomes 0.8
Small Apt. Buildings 5.9
Apt. Complexes 7.8
Mobile Homes 4.5
Other 0.0

Home Size

SIZE OF Corning HOMES
No Bedroom 0.23
1 Bedroom 17.40
2 Bedrooms 25.08
3 Bedrooms 40.11
4 Bedrooms 13.67
5 or more bedrooms 3.50

Popular Neighborhoods in Corning

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Zip Codes in Corning, IA