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 about Scout's Real Estate Data
With 4,491 people, 1,837 houses or apartments, and a median cost of homes of $215,393, house prices in Canastota are solidly below the national average.
Single-family detached homes are the single most common housing type in Canastota, accounting for 54.50% of the village's housing units. Other types of housing that are prevalent in Canastota include duplexes, homes converted to apartments or other small apartment buildings ( 35.69%), large apartment complexes or high rise apartments ( 7.92%), and a few row houses and other attached homes ( 1.09%).
The most prevalent building size and type in Canastota are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 63.38% owning and 36.62% renting.
The housing in Canastota was primarily built before 1939 ( 45.18%), making the housing stock in Canastota some of the oldest overall in America, although there is a range of ages of homes in Canastota. The next most important housing age is between 1940-1969 ( 23.02%), followed by between 1970-1999 ( 19.76%). There's also some housing in Canastota built between 2000 and later ( 12.03%).
Vacant housing appears to be an issue in Canastota. Fully 16.92% of the housing stock is classified as vacant. Left unchecked, vacant Canastota homes and apartments can be a drag on the real estate market, holding Canastota 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 Canastota have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 83.96%, which ranks in the top 50% nationwide. This equates to an annual average Canastota house appreciation rate of 6.29%.
Appreciation rates are so strong in Canastota that despite a nationwide downturn in the housing market, Canastota real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Canastota appreciation rates continue to be some of the highest in America, at 11.14%, which is higher than appreciation rates in 97.69% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Canastota. Canastota appreciation rates in the latest quarter were at 0.89%, which equates to an annual appreciation rate of 3.61%.
Relative to New York, our data show that Canastota's latest annual appreciation rate is higher than 80% of the other cities and towns in New York.
$215,393
for New york
for nation
1,837
$1,236 / per month