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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Binghamton, 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 Q3 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (latest available). Updated annually.

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

Binghamton, NY Housing Market Trends

With 47,115 people, 20,950 houses or apartments, and a median cost of homes of $118,419, house prices in Binghamton 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 Binghamton, accounting for 37.82% of the city's housing units. Other types of housing that are prevalent in Binghamton include duplexes, homes converted to apartments or other small apartment buildings ( 35.18%), large apartment complexes or high rise apartments ( 22.86%), and a few row houses and other attached homes ( 3.76%).

People in Binghamton primarily live in small (one, two or no bedroom) single-family detached homes. Binghamton has a mixture of owner-occupied and renter-occupied housing.

The housing in Binghamton was primarily built before 1939 ( 43.19%), making the housing stock in Binghamton some of the oldest overall in America, although there is a range of ages of homes in Binghamton. The next most important housing age is between 1940-1969 ( 35.39%), followed by between 1970-1999 ( 19.05%). There's also some housing in Binghamton built between 2000 and later ( 2.37%).

Vacant housing appears to be an issue in Binghamton. Fully 14.14% of the housing stock is classified as vacant. Left unchecked, vacant Binghamton homes and apartments can be a drag on the real estate market, holding Binghamton 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.

Binghamton Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Binghamton, where house values have increased just 37.62%, which is annualized rate of 3.24%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

Over the last year, Binghamton appreciation rates have trailed the rest of the nation. In the last twelve months, Binghamton's appreciation rate has been -1.05%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Binghamton were at 6.48%, which equates to an annual appreciation rate of 28.55%.

Importantly, NeighborhoodScout’s exclusive research found that Binghamton's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to New York, our data show that Binghamton's latest annual appreciation rate is lower than 90% 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 city. Individual neighborhoods within Binghamton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Binghamton - 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 Binghamton real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$118,419

Binghamton, NY Home Prices
> $1,308,000
$981,001 - $1,308,000
$654,001 - $981,000
$523,001 - $654,000
$392,001 - $523,000
$262,001 - $392,000
$131,001 - $262,000
$65,001 - $131,000
$0 - $65,000
0.1%
0.1%
0.4%
0.4%
1.6%
1.6%
0.6%
0.6%
2.6%
2.6%
7.1%
7.1%
28.2%
28.2%
52.2%
52.2%
7.1%
7.1%
0% 100.0%
% of Homes
Very Low

for New york

Very Low

for nation

Number of Homes And Apartments:

20,950

Binghamton Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,414 / per month

Homeownership Rate

Owners
Renters
Vacant
40.8%
40.8%
59.2%
59.2%
14.1%
14.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
2.4%
2.4%
19.0%
19.0%
35.4%
35.4%
43.2%
43.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
37.8%
37.8%
3.8%
3.8%
35.2%
35.2%
22.9%
22.9%
0.4%
0.4%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.4%
4.4%
19.9%
19.9%
26.5%
26.5%
31.6%
31.6%
14.0%
14.0%
3.6%
3.6%
0% 100.0%
% of Homes