Canton, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Canton, NY Real Estate Data


Canton Housing Market Information

With a population of 6,570, 1,683 total housing units (homes and apartments), and a median house value of $131,197, house prices in Canton are solidly below the national average.

Single-family detached homes are the single most common housing type in Canton, accounting for 46.71% of the village's housing units. Other types of housing that are prevalent in Canton include large apartment complexes or high rise apartments ( 31.65%), duplexes, homes converted to apartments or other small apartment buildings ( 16.50%), and a few row houses and other attached homes ( 5.14%).

Canton is dominated by renter-occupied one, two, or no bedrooms apartments. 75.87% of Canton's dwellings are rentals.

The housing in Canton was primarily built before 1939 ( 38.64%), making the housing stock in Canton some of the oldest overall in America, although there is a range of ages of homes in Canton. The next most important housing age is between 1970-1999 ( 33.81%), followed by between 1940-1969 ( 26.16%). There's also some housing in Canton built between 2000 and later ( 1.39%).

Vacant housing appears to be an issue in Canton. Fully 13.51% of the housing stock is classified as vacant. Left unchecked, vacant Canton homes and apartments can be a drag on the real estate market, holding Canton 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.

Canton Home Appreciation Rates

Appreciation rates for homes in Canton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 17.20%, which ranks in the top 30% nationwide. This equates to an annual average Canton house appreciation rate of 1.60%.

Over the last year, Canton appreciation rates have trailed the rest of the nation. In the last twelve months, Canton's appreciation rate has been 2.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Canton were at 0.41%, which equates to an annual appreciation rate of 1.66%.

Notably, Canton's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New York, our data show that Canton's latest annual appreciation rate is lower than 50% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$131,197

Canton, NY HOME PRICES

Value Range
> $1,064,000 3.2
$798,001 - $1,064,000 1.4
$532,001 - $798,000 3.2
$426,001 - $532,000 0.5
$319,001 - $426,000 2.3
$213,001 - $319,000 7.9
$107,001 - $213,000 40.3
$53,001 - $107,000 26.6
$0 - $53,000 14.6

Low for NY
Low for Nation

Value Relative to Nation Value Relative to State
60.133512912104 68.1257014590348

Number Of Homes And Apartments:
1,683

Rent & Ownership

 

Average Market Rent:
$1,118 / per month

Homeownership Rate

Homeownership
Owners 24.13
Renters 75.87
Vacant 13.51

Housing Market Details

 

Age of Homes

AGE OF Canton HOMES
2000 or Newer 1.4
1970 - 1999 33.8
1940 - 1969 26.2
1939 or Older 38.6

Types of Homes

TYPE OF Canton HOMES
Single-Family 46.7
Townhomes 5.1
Small Apt. Buildings 16.5
Apt. Complexes 31.7
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Canton HOMES
No Bedroom 4.01
1 Bedroom 22.61
2 Bedrooms 23.33
3 Bedrooms 26.72
4 Bedrooms 19.12
5 or more bedrooms 4.21

Canton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
85.21% 3.69% 9 9
* 10 is highest