Elmira, NY


Highest Appreciating Elmira Neighborhoods Since 2000

Elmira, NY Real Estate Data

Elmira Housing Market Information

With 28,213 people, 10,391 houses or apartments, and a median cost of homes of $68,835, house prices in Elmira are some of the most affordable in New York as well as the nation.

Single-family detached homes are the single most common housing type in Elmira, accounting for 48.21% of the city's housing units. Other types of housing that are prevalent in Elmira include duplexes, homes converted to apartments or other small apartment buildings ( 30.37%), large apartment complexes or high rise apartments ( 15.79%), and a few row houses and other attached homes ( 5.62%).

The most prevalent building size and type in Elmira are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 37.61% owning and 62.39% renting.

The housing in Elmira was primarily built before 1939 ( 68.04%), making the housing stock in Elmira some of the oldest overall in America, although there is a range of ages of homes in Elmira. The next most important housing age is between 1940-1969 ( 23.81%), followed by between 1970-1999 ( 7.15%). There's also some housing in Elmira built between 2000 and later ( 1.00%).

Vacant housing appears to be an issue in Elmira. Fully 10.84% of the housing stock is classified as vacant. Left unchecked, vacant Elmira homes and apartments can be a drag on the real estate market, holding Elmira 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.

Elmira Home Appreciation Rates

Real estate appreciation rates in Elmira's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.00% during the period.

NeighborhoodScout's data show that during the latest twelve months, Elmira's appreciation rate, at 3.78%, has been at or slightly above the national average. In the latest quarter, Elmira's appreciation rate has been -5.79%, which annualizes to a rate of -21.23%.

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

Relative to New York, our data show that Elmira'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 Elmira differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Elmira - 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 Elmira real estate investment or home purchase decisions.

Average Home Values


Median Home Value:


Value Range
> $1,031,000 0.0
$773,001 - $1,031,000 0.0
$516,001 - $773,000 0.4
$412,001 - $516,000 0.6
$309,001 - $412,000 1.6
$206,001 - $309,000 2.2
$103,001 - $206,000 8.7
$51,001 - $103,000 58.4
$0 - $51,000 28.0

Very Low for NY
Very Low for Nation

Value Relative to Nation Value Relative to State
95.6345951013711 99.1021324354658

Number Of Homes And Apartments:

Rent & Ownership


Average Market Rent:
$861 / per month

Homeownership Rate

Owners 37.61
Renters 62.39
Vacant 10.84

Housing Market Details


Age of Homes

2000 or Newer 1.0
1970 - 1999 7.1
1940 - 1969 23.8
1939 or Older 68.0

Types of Homes

Single-Family 48.2
Townhomes 5.6
Small Apt. Buildings 30.4
Apt. Complexes 15.8
Mobile Homes 0.0
Other 0.0

Home Size

No Bedroom 1.96
1 Bedroom 16.49
2 Bedrooms 28.14
3 Bedrooms 35.73
4 Bedrooms 13.94
5 or more bedrooms 3.73

Elmira Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
35.62% 1.78% 2 4
* 10 is highest