Elma, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Elma Neighborhoods Since 2000




Elma, 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

Elma Housing Market Information

With a population of 11,507, 2,417 total housing units (homes and apartments), and a median house value of $257,071, Elma real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Elma, accounting for 89.38% of the town's housing units. Other types of housing that are prevalent in Elma include duplexes, homes converted to apartments or other small apartment buildings ( 4.59%), row houses and other attached homes ( 3.23%), and a few large apartment complexes or high rise apartments ( 2.70%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elma. Owner-occupied housing accounts for 91.40% of Elma's homes, and 76.73% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Elma's housing was primarily built during this period, from the '40s through the '60s. A full 37.23% of the town's housing hails from this era. Other housing ages represented in Elma include homes built between 1970-1999 ( 33.36%) and housing constructed before 1939 ( 20.09%). There's also some housing in Elma built between 2000 and later ( 9.32%).

Elma Home Appreciation Rates

Appreciation rates for homes in Elma have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.45%, which ranks in the top 30% nationwide. This equates to an annual average Elma house appreciation rate of 1.36%.

NeighborhoodScout's data show that during the latest twelve months, Elma's appreciation rate, at 4.71%, has been at or slightly above the national average. In the latest quarter, Elma's appreciation rate has been -0.40%, which annualizes to a rate of -1.57%.

Relative to New York, our data show that Elma's latest annual appreciation rate is higher than 70% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$257,071

Elma, NY HOME PRICES

Value Range
> $1,114,000 0.7
$835,001 - $1,114,000 1.7
$557,001 - $835,000 5.1
$445,001 - $557,000 2.5
$334,001 - $445,000 12.7
$223,001 - $334,000 34.1
$111,001 - $223,000 36.6
$56,001 - $111,000 3.3
$0 - $56,000 3.3

High for NY
High for Nation

Value Relative to Nation Value Relative to State
21.4871674674792 36.2514029180696

Number Of Homes And Apartments:
2,417

Elma 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
53.11% 2.50% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,059 / per month

Homeownership Rate

Homeownership
Owners 91.40
Renters 8.60
Vacant 4.69

Housing Market Details

 

Age of Homes

AGE OF Elma HOMES
2000 or Newer 9.3
1970 - 1999 33.4
1940 - 1969 37.2
1939 or Older 20.1

Types of Homes

TYPE OF Elma HOMES
Single-Family 89.4
Townhomes 3.2
Small Apt. Buildings 4.6
Apt. Complexes 2.7
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Elma HOMES
No Bedroom 1.36
1 Bedroom 1.17
2 Bedrooms 14.80
3 Bedrooms 55.43
4 Bedrooms 21.31
5 or more bedrooms 5.93