Gloversville, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Gloversville Neighborhoods Since 2000




Gloversville, 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

Gloversville Housing Market Information

With a population of 15,023, 6,167 total housing units (homes and apartments), and a median house value of $78,135, house prices in Gloversville 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 Gloversville, accounting for 46.75% of the city's housing units. Other types of housing that are prevalent in Gloversville include duplexes, homes converted to apartments or other small apartment buildings ( 42.99%), large apartment complexes or high rise apartments ( 9.04%), and a few row houses and other attached homes ( 1.08%).

The most prevalent building size and type in Gloversville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.12% owning and 50.88% renting.

The housing in Gloversville was primarily built before 1939 ( 63.92%), making the housing stock in Gloversville some of the oldest overall in America, although there is a range of ages of homes in Gloversville. The next most important housing age is between 1940-1969 ( 27.43%), followed by between 1970-1999 ( 8.09%).

Vacant housing appears to be an issue in Gloversville. Fully 16.94% of the housing stock is classified as vacant. Left unchecked, vacant Gloversville homes and apartments can be a drag on the real estate market, holding Gloversville 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.

Gloversville Home Appreciation Rates

Gloversville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Gloversville during the period has been just -0.86%, which is lower than 70% of US communities.

Over the last year, Gloversville appreciation rates have trailed the rest of the nation. In the last twelve months, Gloversville's appreciation rate has been -4.87%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Gloversville were at -0.56%, which equates to an annual appreciation rate of -2.23%.

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

Relative to New York, our data show that Gloversville's latest annual appreciation rate is lower than 90% 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 Gloversville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Gloversville - 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 Gloversville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$78,135

Gloversville, NY HOME PRICES

Value Range
> $989,000 0.5
$742,001 - $989,000 0.3
$495,001 - $742,000 0.0
$396,001 - $495,000 0.3
$297,001 - $396,000 1.1
$198,001 - $297,000 3.3
$99,001 - $198,000 20.5
$50,001 - $99,000 54.9
$0 - $50,000 19.0

Very Low for NY
Very Low for Nation

Value Relative to Nation Value Relative to State
91.644204851752 97.1941638608305

Number Of Homes And Apartments:
6,167

Gloversville 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
34.37% 1.73% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$856 / per month

Homeownership Rate

Homeownership
Owners 49.12
Renters 50.88
Vacant 16.94

Housing Market Details

 

Age of Homes

AGE OF Gloversville HOMES
2000 or Newer 0.6
1970 - 1999 8.1
1940 - 1969 27.4
1939 or Older 63.9

Types of Homes

TYPE OF Gloversville HOMES
Single-Family 46.7
Townhomes 1.1
Small Apt. Buildings 43.0
Apt. Complexes 9.0
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Gloversville HOMES
No Bedroom 2.24
1 Bedroom 16.07
2 Bedrooms 28.54
3 Bedrooms 35.11
4 Bedrooms 13.54
5 or more bedrooms 4.51