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
With 1,716 people, 704 houses or apartments, and a median cost of homes of $87,949, house prices in Addison are some of the most affordable in New York as well as the nation.
Single-family detached homes are the single most common housing type in Addison, accounting for 65.89% of the village's housing units. Other types of housing that are prevalent in Addison include duplexes, homes converted to apartments or other small apartment buildings ( 18.72%), mobile homes or trailers ( 7.64%), and a few large apartment complexes or high rise apartments ( 7.14%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Addison. Owner-occupied housing accounts for 69.60% of Addison's homes, and 62.56% have either three or four bedrooms, which is average sized relative to America.
The housing in Addison was primarily built before 1939 ( 56.16%), making the housing stock in Addison some of the oldest overall in America, although there is a range of ages of homes in Addison. The next most important housing age is between 1970-1999 ( 22.04%), followed by between 1940-1969 ( 17.12%). There's also some housing in Addison built between 2000 and later ( 4.68%).
Vacant housing appears to be an issue in Addison. Fully 13.30% of the housing stock is classified as vacant. Left unchecked, vacant Addison homes and apartments can be a drag on the real estate market, holding Addison 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.
Appreciation rates for homes in Addison have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.22%, which ranks in the top 50% nationwide. This equates to an annual average Addison house appreciation rate of 0.22%.
Over the last year, Addison appreciation rates have trailed the rest of the nation. In the last twelve months, Addison's appreciation rate has been 1.31%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Addison were at -0.56%, which equates to an annual appreciation rate of -2.23%.
Notably, Addison's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Addison's latest annual appreciation rate is lower than 60% of the other cities and towns in New York.
|$778,001 - $1,038,000||0.5|
|$519,001 - $778,000||0.4|
|$415,001 - $519,000||0.6|
|$311,001 - $415,000||0.8|
|$207,001 - $311,000||7.3|
|$104,001 - $207,000||29.7|
|$52,001 - $104,000||46.3|
|$0 - $52,000||14.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Addison HOMES|
|2000 or Newer||4.7|
|1970 - 1999||22.0|
|1940 - 1969||17.1|
|1939 or Older||56.2|
|TYPE OF Addison HOMES|
|Small Apt. Buildings||18.7|
|SIZE OF Addison HOMES|
|5 or more bedrooms||7.76|