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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.



Central Square, 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

Central Square, NY Housing Market Trends

With 1,852 people, 948 houses or apartments, and a median cost of homes of $223,656, house prices in Central Square are solidly below the national average.

Single-family detached homes are the single most common housing type in Central Square, accounting for 46.51% of the village's housing units. Other types of housing that are prevalent in Central Square include large apartment complexes or high rise apartments ( 28.44%), duplexes, homes converted to apartments or other small apartment buildings ( 12.87%), and a few mobile homes or trailers ( 8.08%).

The most prevalent building size and type in Central Square are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 51.80% owning and 48.20% renting.

There is a lot of housing in Central Square built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Central Square built between 2000 and later ( 17.96%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.37%). There's also some housing in Central Square built before 1939 ( 11.38%).

Central Square Home Appreciation Rates

Central Square's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Central Square during the period has been just 5.29%, which is lower than 70% of US communities.

Appreciation rates are so strong in Central Square that despite a nationwide downturn in the housing market, Central Square real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Central Square 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 Central Square. Central Square 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 Central Square's latest annual appreciation rate is higher than 80% of the other cities and towns in New York.

Average Home Values

Median Home Value

$223,656

Central Square, NY Home Prices
> $1,282,000
$962,001 - $1,282,000
$641,001 - $962,000
$513,001 - $641,000
$384,001 - $513,000
$257,001 - $384,000
$128,001 - $257,000
$64,001 - $128,000
$0 - $64,000
0.0%
0.0%
0.7%
0.7%
0.0%
0.0%
0.0%
0.0%
8.9%
8.9%
21.9%
21.9%
43.2%
43.2%
15.3%
15.3%
10.0%
10.0%
0% 100.0%
% of Homes
Low

for New york

Low

for nation

Number of Homes And Apartments:

948

Central Square Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,223 / per month

Homeownership Rate

Owners
Renters
51.8%
51.8%
48.2%
48.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.4%
5.4%
94.6%
94.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
18.0%
18.0%
57.3%
57.3%
13.4%
13.4%
11.4%
11.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
46.5%
46.5%
4.1%
4.1%
12.9%
12.9%
28.4%
28.4%
8.1%
8.1%
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
0.3%
0.3%
22.7%
22.7%
25.5%
25.5%
38.1%
38.1%
11.5%
11.5%
1.9%
1.9%
0% 100.0%
% of Homes

Popular Neighborhoods in Central Square

Zip Codes in Central Square, NY