Corning, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Corning Neighborhoods Since 2000




Corning, NY Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Corning Housing Market Information

With 10,897 people, 5,098 houses or apartments, and a median cost of homes of $120,148, house prices in Corning are solidly below the national average.

Single-family detached homes are the single most common housing type in Corning, accounting for 54.48% of the city's housing units. Other types of housing that are prevalent in Corning include duplexes, homes converted to apartments or other small apartment buildings ( 27.12%), large apartment complexes or high rise apartments ( 16.14%), and a few row houses and other attached homes ( 1.71%).

People in Corning primarily live in small (one, two or no bedroom) single-family detached homes. Corning has a mixture of owner-occupied and renter-occupied housing.

The housing in Corning was primarily built before 1939 ( 50.61%), making the housing stock in Corning some of the oldest overall in America, although there is a range of ages of homes in Corning. The next most important housing age is between 1940-1969 ( 28.25%), followed by between 1970-1999 ( 19.63%). There's also some housing in Corning built between 2000 and later ( 1.51%).

Corning Home Appreciation Rates

In the last 10 years, Corning has experienced some of the highest home appreciation rates of any community in the nation. Corning real estate appreciated 17.39% over the last ten years, which is an average annual home appreciation rate of 1.62%, putting Corning in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Corning definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Corning appreciation rates have trailed the rest of the nation. In the last twelve months, Corning's appreciation rate has been 2.53%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Corning were at -0.56%, which equates to an annual appreciation rate of -2.23%.

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

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Corning differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Corning - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Corning real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$120,148

Corning, NY HOME PRICES

Value Range
> $1,051,000 0.6
$789,001 - $1,051,000 0.2
$526,001 - $789,000 0.8
$420,001 - $526,000 0.0
$315,001 - $420,000 4.2
$210,001 - $315,000 8.2
$105,001 - $210,000 37.2
$53,001 - $105,000 44.8
$0 - $53,000 4.0

Low for NY
Low for Nation

Value Relative to Nation Value Relative to State
65.3111449666003 72.7272727272727

Number Of Homes And Apartments:
5,098

Corning Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
29.26% 1.50% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$784 / per month

Homeownership Rate

Homeownership
Owners 49.02
Renters 50.98
Vacant 9.21

Housing Market Details

 

Age of Homes

AGE OF Corning HOMES
2000 or Newer 1.5
1970 - 1999 19.6
1940 - 1969 28.2
1939 or Older 50.6

Types of Homes

TYPE OF Corning HOMES
Single-Family 54.5
Townhomes 1.7
Small Apt. Buildings 27.1
Apt. Complexes 16.1
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF Corning HOMES
No Bedroom 0.80
1 Bedroom 17.42
2 Bedrooms 30.51
3 Bedrooms 33.91
4 Bedrooms 13.43
5 or more bedrooms 3.94