Fredonia NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Fredonia, 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 Q4 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Fredonia Housing Market Information

With 10,501 people, 3,627 houses or apartments, and a median cost of homes of $136,787, house prices in Fredonia are solidly below the national average.

Single-family detached homes are the single most common housing type in Fredonia, accounting for 53.11% of the village's housing units. Other types of housing that are prevalent in Fredonia include duplexes, homes converted to apartments or other small apartment buildings ( 20.89%), large apartment complexes or high rise apartments ( 17.98%), and a few row houses and other attached homes ( 5.86%).

The most prevalent building size and type in Fredonia are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 50.23% owning and 49.77% renting.

The housing in Fredonia was primarily built before 1939 ( 39.71%), making the housing stock in Fredonia some of the oldest overall in America, although there is a range of ages of homes in Fredonia. The next most important housing age is between 1940-1969 ( 32.74%), followed by between 1970-1999 ( 22.65%). There's also some housing in Fredonia built between 2000 and later ( 4.90%).

Vacant housing appears to be an issue in Fredonia. Fully 15.73% of the housing stock is classified as vacant. Left unchecked, vacant Fredonia homes and apartments can be a drag on the real estate market, holding Fredonia 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.

Fredonia Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Fredonia, where house values have increased just 0.35%, which is annualized rate of 0.04%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Fredonia's appreciation rate, at 4.69%, has been at or slightly above the national average. In the latest quarter, Fredonia's appreciation rate has been 2.62%, which annualizes to a rate of 10.90%.

Importantly, this makes Fredonia 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 Fredonia's latest annual appreciation rate is higher than 60% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$136,787

Fredonia, NY HOME PRICES

Value Range
> $1,017,000 0.0
$762,001 - $1,017,000 0.0
$508,001 - $762,000 1.1
$407,001 - $508,000 1.2
$305,001 - $407,000 6.0
$203,001 - $305,000 14.6
$102,001 - $203,000 48.9
$51,001 - $102,000 24.0
$0 - $51,000 4.2

Low for NY
Low for Nation

Value Relative to Nation Value Relative to State
65.5824817518248 72.1111111111111

Number Of Homes And Apartments:
3,627

Fredonia Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
Since 2000:
2000 Q1 - 2019 Q4
31.41% 1.37%
1
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$939 / per month

Homeownership Rate

Homeownership
Owners 50.23
Renters 49.77
Vacant 15.73

Housing Market Details

 

Age of Homes

AGE OF Fredonia HOMES
2000 or Newer 4.9
1970 - 1999 22.7
1940 - 1969 32.7
1939 or Older 39.7

Types of Homes

TYPE OF Fredonia HOMES
Single-Family 53.1
Townhomes 5.9
Small Apt. Buildings 20.9
Apt. Complexes 18.0
Mobile Homes 2.2
Other 0.0

Home Size

SIZE OF Fredonia HOMES
No Bedroom 1.00
1 Bedroom 8.76
2 Bedrooms 28.53
3 Bedrooms 38.45
4 Bedrooms 18.10
5 or more bedrooms 5.16