Ballston Spa, NY Real Estate Market

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 Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Ballston Spa, NY Housing Market Trends

With 5,111 people, 2,291 houses or apartments, and a median cost of homes of $289,014, Ballston Spa real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Ballston Spa, accounting for 59.89% of the village's housing units. Other types of housing that are prevalent in Ballston Spa include duplexes, homes converted to apartments or other small apartment buildings ( 31.28%), large apartment complexes or high rise apartments ( 8.83%).

The most prevalent building size and type in Ballston Spa are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 59.27% owning and 40.73% renting.

The housing in Ballston Spa was primarily built before 1939 ( 55.63%), making the housing stock in Ballston Spa some of the oldest overall in America, although there is a range of ages of homes in Ballston Spa. The next most important housing age is between 1970-1999 ( 25.78%), followed by between 1940-1969 ( 14.09%). There's also some housing in Ballston Spa built between 2000 and later ( 4.49%).

Vacant housing appears to be an issue in Ballston Spa. Fully 11.30% of the housing stock is classified as vacant. Left unchecked, vacant Ballston Spa homes and apartments can be a drag on the real estate market, holding Ballston Spa 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.

Ballston Spa Home Appreciation Rates

Real estate appreciation rates in Ballston Spa's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.97% during the period.

NeighborhoodScout's data show that during the latest twelve months, Ballston Spa's appreciation rate, at 17.61%, has been at or slightly above the national average. In the latest quarter, Ballston Spa's appreciation rate has been 7.59%, which annualizes to a rate of 33.98%.

Relative to New York, our data show that Ballston Spa's latest annual appreciation rate is lower than 60% 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 village. Individual neighborhoods within Ballston Spa differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Ballston Spa - 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 2000, to assist you in making the best Ballston Spa real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$289,014

Ballston Spa, NY HOME PRICES

> $1,305,000
1.1%
1.1%
$978,001 - $1,305,000
0.0%
0.0%
$652,001 - $978,000
1.3%
1.3%
$522,001 - $652,000
2.2%
2.2%
$391,001 - $522,000
10.9%
10.9%
$261,001 - $391,000
39.0%
39.0%
$131,001 - $261,000
34.5%
34.5%
$65,001 - $131,000
7.0%
7.0%
$0 - $65,000
4.0%
4.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Average for NY

Value Relative To Nation

Number Of Homes And Apartments:
2,291

Ballston Spa Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
173.99% 4.69%
10
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,491 / per month

Homeownership Rate

Owners
59.3%
59.3%
Renters
40.7%
40.7%
Vacant
11.3%
11.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
4.5%
4.5%
1970 - 1999
25.8%
25.8%
1940 - 1969
14.1%
14.1%
1939 or Older
55.6%
55.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
59.9%
59.9%
Townhomes
0.0%
0.0%
Small Apt. Buildings
31.3%
31.3%
Apt. Complexes
8.8%
8.8%
Mobile Homes
0.0%
0.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.0%
3.0%
1 Bedroom
21.4%
21.4%
2 Bedrooms
19.1%
19.1%
3 Bedrooms
43.1%
43.1%
4 Bedrooms
12.0%
12.0%
5 or more bedrooms
1.3%
1.3%
0.0% 100.0%
% OF HOMES