Fredonia, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Fredonia, NY Real Estate Data


Fredonia Housing Market Information

With a population of 10,705, 3,862 total housing units (homes and apartments), and a median house value of $142,248, Fredonia real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Fredonia, accounting for 56.93% 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 ( 23.74%), large apartment complexes or high rise apartments ( 16.13%), and a few row houses and other attached homes ( 3.20%).

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 46.82% owning and 53.18% renting.

The housing in Fredonia was primarily built before 1939 ( 46.05%), 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 ( 27.82%), followed by between 1970-1999 ( 17.83%). There's also some housing in Fredonia built between 2000 and later ( 8.30%).

Vacant housing appears to be an issue in Fredonia. Fully 14.78% 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

Appreciation rates for homes in Fredonia have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.66%, which ranks in the top 30% nationwide. This equates to an annual average Fredonia house appreciation rate of 1.20%.

Over the last year, Fredonia appreciation rates have trailed the rest of the nation. In the last twelve months, Fredonia's appreciation rate has been 3.19%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Fredonia were at 0.41%, which equates to an annual appreciation rate of 1.66%.

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

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

Average Home Values

 

Median Home Value:
$142,248

Fredonia, NY HOME PRICES

Value Range
> $1,092,000 0.0
$819,001 - $1,092,000 0.0
$546,001 - $819,000 1.1
$437,001 - $546,000 1.9
$328,001 - $437,000 4.3
$218,001 - $328,000 11.5
$109,001 - $218,000 51.6
$55,001 - $109,000 28.5
$0 - $55,000 1.0

Low for NY
Average for Nation

Value Relative to Nation Value Relative to State
54.4709258066405 62.0650953984287

Number Of Homes And Apartments:
3,862

Rent & Ownership

 

Average Market Rent:
$1,067 / per month

Homeownership Rate

Homeownership
Owners 46.82
Renters 53.18
Vacant 14.78

Housing Market Details

 

Age of Homes

AGE OF Fredonia HOMES
2000 or Newer 8.3
1970 - 1999 17.8
1940 - 1969 27.8
1939 or Older 46.1

Types of Homes

TYPE OF Fredonia HOMES
Single-Family 56.9
Townhomes 3.2
Small Apt. Buildings 23.7
Apt. Complexes 16.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Fredonia HOMES
No Bedroom 1.10
1 Bedroom 14.23
2 Bedrooms 24.14
3 Bedrooms 39.94
4 Bedrooms 16.73
5 or more bedrooms 3.86

Fredonia Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
42.49% 2.10% 3 5
* 10 is highest