Ballston Spa, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Ballston Spa, NY 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

Ballston Spa Housing Market Information

With a population of 5,375, 2,247 total housing units (homes and apartments), and a median house value of $228,339, 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 51.61% 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 ( 35.90%), large apartment complexes or high rise apartments ( 10.82%), and a few row houses and other attached homes ( 1.67%).

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 47.18% owning and 52.82% renting.

The housing in Ballston Spa was primarily built before 1939 ( 51.53%), 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 ( 30.25%), followed by between 1940-1969 ( 11.83%). There's also some housing in Ballston Spa built between 2000 and later ( 6.39%).

Ballston Spa Home Appreciation Rates

Appreciation rates for homes in Ballston Spa have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.17%, which ranks in the top 40% nationwide. This equates to an annual average Ballston Spa house appreciation rate of 0.51%.

Over the last year, Ballston Spa appreciation rates have trailed the rest of the nation. In the last twelve months, Ballston Spa's appreciation rate has been 2.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Ballston Spa were at 0.82%, which equates to an annual appreciation rate of 3.32%.

Relative to New York, our data show that Ballston Spa's latest annual appreciation rate is lower than 50% 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:
$228,339

Ballston Spa Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
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
99.79% 4.09% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,102 / per month

Homeownership Rate

Homeownership
Owners 47.18
Renters 52.82
Vacant 6.10

Housing Market Details

 

Age of Homes

AGE OF Ballston Spa HOMES
2000 or Newer 6.4
1970 - 1999 30.3
1940 - 1969 11.8
1939 or Older 51.5

Types of Homes

TYPE OF Ballston Spa HOMES
Single-Family 51.6
Townhomes 1.7
Small Apt. Buildings 35.9
Apt. Complexes 10.8
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Ballston Spa HOMES
No Bedroom 0.00
1 Bedroom 26.28
2 Bedrooms 20.06
3 Bedrooms 35.35
4 Bedrooms 13.16
5 or more bedrooms 5.14