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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.



Cambridge, 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 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Cambridge, NY Housing Market Trends

With a population of 1,807, 999 total housing units (homes and apartments), and a median house value of $249,962, Cambridge real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Cambridge, accounting for 62.46% of the village's housing units. Other types of housing that are prevalent in Cambridge include large apartment complexes or high rise apartments ( 14.36%), duplexes, homes converted to apartments or other small apartment buildings ( 13.75%), and a few mobile homes or trailers ( 8.82%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cambridge. Owner-occupied housing accounts for 72.83% of Cambridge's homes, and 49.13% have either three or four bedrooms, which is average sized relative to America.

The housing in Cambridge was primarily built before 1939 ( 57.87%), making the housing stock in Cambridge some of the oldest overall in America, although there is a range of ages of homes in Cambridge. The next most important housing age is between 1940-1969 ( 15.66%), followed by between 1970-1999 ( 13.84%). There's also some housing in Cambridge built between 2000 and later ( 12.63%).

Vacant housing appears to be an issue in Cambridge. Fully 13.58% of the housing stock is classified as vacant. Left unchecked, vacant Cambridge homes and apartments can be a drag on the real estate market, holding Cambridge 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.

Cambridge Home Appreciation Rates

Cambridge's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cambridge during the period has been just 5.14%, which is lower than 70% of US communities.

Appreciation rates are so strong in Cambridge that despite a nationwide downturn in the housing market, Cambridge real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cambridge appreciation rates continue to be some of the highest in America, at 8.90%, which is higher than appreciation rates in 91.15% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cambridge. Cambridge appreciation rates in the latest quarter were at 5.09%, which equates to an annual appreciation rate of 21.97%.

Importantly, this makes Cambridge one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

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

Average Home Values

Median Home Value

$249,962

Cambridge, NY Home Prices
> $1,306,000
$980,001 - $1,306,000
$653,001 - $980,000
$523,001 - $653,000
$392,001 - $523,000
$261,001 - $392,000
$130,001 - $261,000
$65,001 - $130,000
$0 - $65,000
3.0%
3.0%
1.2%
1.2%
1.4%
1.4%
6.3%
6.3%
6.7%
6.7%
31.0%
31.0%
39.3%
39.3%
7.4%
7.4%
3.7%
3.7%
0% 100.0%
% of Homes
Average

for New york

Average

for nation

Number of Homes And Apartments:

999

Cambridge Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,564 / per month

Homeownership Rate

Owners
Renters
72.8%
72.8%
27.2%
27.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
13.6%
13.6%
86.4%
86.4%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
12.6%
12.6%
13.8%
13.8%
15.7%
15.7%
57.9%
57.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.5%
62.5%
0.6%
0.6%
13.8%
13.8%
14.4%
14.4%
8.8%
8.8%
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
6.6%
6.6%
16.9%
16.9%
23.2%
23.2%
38.1%
38.1%
11.1%
11.1%
4.2%
4.2%
0% 100.0%
% of Homes