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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.



Cazenovia, 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

Cazenovia, NY Housing Market Trends

With a population of 2,748, 681 total housing units (homes and apartments), and a median house value of $352,169, Cazenovia real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Cazenovia, accounting for 60.27% of the village's housing units. Other types of housing that are prevalent in Cazenovia include duplexes, homes converted to apartments or other small apartment buildings ( 21.50%), large apartment complexes or high rise apartments ( 15.34%), and a few row houses and other attached homes ( 2.90%).

The most prevalent building size and type in Cazenovia are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 35.07% owning and 64.93% renting.

The housing in Cazenovia was primarily built before 1939 ( 43.84%), making the housing stock in Cazenovia some of the oldest overall in America, although there is a range of ages of homes in Cazenovia. The next most important housing age is between 1940-1969 ( 23.19%), followed by between 1970-1999 ( 21.62%). There's also some housing in Cazenovia built between 2000 and later ( 11.35%).

Vacant housing appears to be an issue in Cazenovia. Fully 17.75% of the housing stock is classified as vacant. Left unchecked, vacant Cazenovia homes and apartments can be a drag on the real estate market, holding Cazenovia 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.

Cazenovia Home Appreciation Rates

Cazenovia's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cazenovia during the period has been just 4.50%, which is lower than 80% of US communities.

Appreciation rates are so strong in Cazenovia that despite a nationwide downturn in the housing market, Cazenovia real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cazenovia appreciation rates continue to be some of the highest in America, at 11.14%, which is higher than appreciation rates in 97.63% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cazenovia. Cazenovia 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 Cazenovia's latest annual appreciation rate is higher than 80% of the other cities and towns in New York.

Average Home Values

Median Home Value

$352,169

Cazenovia, NY Home Prices
> $1,274,000
$955,001 - $1,274,000
$637,001 - $955,000
$509,001 - $637,000
$382,001 - $509,000
$255,001 - $382,000
$127,001 - $255,000
$64,001 - $127,000
$0 - $64,000
3.5%
3.5%
1.8%
1.8%
6.4%
6.4%
6.2%
6.2%
27.4%
27.4%
21.6%
21.6%
30.4%
30.4%
1.5%
1.5%
1.3%
1.3%
0% 100.0%
% of Homes
Average

for New york

High

for nation

Number of Homes And Apartments:

681

Cazenovia Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,609 / per month

Homeownership Rate

Owners
Renters
35.1%
35.1%
64.9%
64.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
17.8%
17.8%
82.2%
82.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.4%
11.4%
21.6%
21.6%
23.2%
23.2%
43.8%
43.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
60.3%
60.3%
2.9%
2.9%
21.5%
21.5%
15.3%
15.3%
0.0%
0.0%
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
0.8%
0.8%
15.6%
15.6%
26.3%
26.3%
32.7%
32.7%
17.9%
17.9%
6.6%
6.6%
0% 100.0%
% of Homes