Elmira Heights, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Elmira Heights Neighborhoods Since 2000




Elmira Heights, 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

Elmira Heights Housing Market Information

With a population of 3,982, 1,653 total housing units (homes and apartments), and a median house value of $103,545, house prices in Elmira Heights are solidly below the national average.

Single-family detached homes are the single most common housing type in Elmira Heights, accounting for 56.42% of the village's housing units. Other types of housing that are prevalent in Elmira Heights include duplexes, homes converted to apartments or other small apartment buildings ( 21.90%), large apartment complexes or high rise apartments ( 17.84%), and a few row houses and other attached homes ( 2.72%).

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

The housing in Elmira Heights was primarily built before 1939 ( 46.69%), making the housing stock in Elmira Heights some of the oldest overall in America, although there is a range of ages of homes in Elmira Heights. The next most important housing age is between 1940-1969 ( 29.29%), followed by between 1970-1999 ( 22.79%). There's also some housing in Elmira Heights built between 2000 and later ( 1.22%).

Elmira Heights Home Appreciation Rates

In the last 10 years, Elmira Heights has experienced some of the highest home appreciation rates of any community in the nation. Elmira Heights real estate appreciated 19.91% over the last ten years, which is an average annual home appreciation rate of 1.83%, putting Elmira Heights in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Elmira Heights definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Elmira Heights that despite a nationwide downturn in the housing market, Elmira Heights real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Elmira Heights appreciation rates continue to be some of the highest in America, at 10.39%, which is higher than appreciation rates in 94.81% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Elmira Heights. Elmira Heights appreciation rates in the latest quarter were at 2.93%, which equates to an annual appreciation rate of 12.23%.

Importantly, this makes Elmira Heights one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

Relative to New York, our data show that Elmira Heights's latest annual appreciation rate is higher than 90% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$103,545

Elmira Heights, NY HOME PRICES

Value Range
> $1,089,000 0.0
$817,001 - $1,089,000 0.0
$544,001 - $817,000 0.0
$435,001 - $544,000 0.5
$327,001 - $435,000 2.1
$218,001 - $327,000 4.3
$109,001 - $218,000 21.4
$54,001 - $109,000 62.1
$0 - $54,000 9.5

Very Low for NY
Low for Nation

Value Relative to Nation Value Relative to State
75.3164186101019 81.3692480359147

Number Of Homes And Apartments:
1,653

Elmira Heights 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
38.76% 1.92% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,067 / per month

Homeownership Rate

Homeownership
Owners 53.31
Renters 46.69
Vacant 8.12

Housing Market Details

 

Age of Homes

AGE OF Elmira Heights HOMES
2000 or Newer 1.2
1970 - 1999 22.8
1940 - 1969 29.3
1939 or Older 46.7

Types of Homes

TYPE OF Elmira Heights HOMES
Single-Family 56.4
Townhomes 2.7
Small Apt. Buildings 21.9
Apt. Complexes 17.8
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Elmira Heights HOMES
No Bedroom 1.56
1 Bedroom 21.12
2 Bedrooms 28.96
3 Bedrooms 31.74
4 Bedrooms 11.51
5 or more bedrooms 5.11

Popular Neighborhoods in Elmira Heights

Zip Codes in Elmira Heights, NY