Hamburg, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hamburg, 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

Hamburg Housing Market Information

With 9,576 people, 4,087 houses or apartments, and a median cost of homes of $174,736, Hamburg real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Hamburg, accounting for 71.66% of the village's housing units. Other types of housing that are prevalent in Hamburg include duplexes, homes converted to apartments or other small apartment buildings ( 15.96%), large apartment complexes or high rise apartments ( 10.00%), and a few row houses and other attached homes ( 2.39%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hamburg. Owner-occupied housing accounts for 66.17% of Hamburg's homes, and 65.77% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Hamburg's housing was primarily built during this period, from the '40s through the '60s. A full 45.10% of the village's housing hails from this era. Other housing ages represented in Hamburg include homes built before 1939 ( 30.93%) and housing constructed between 1970-1999 ( 20.47%). There's also some housing in Hamburg built between 2000 and later ( 3.50%).

Hamburg Home Appreciation Rates

In the last 10 years, Hamburg has experienced some of the highest home appreciation rates of any community in the nation. Hamburg real estate appreciated 18.98% over the last ten years, which is an average annual home appreciation rate of 1.75%, putting Hamburg in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Hamburg definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Hamburg's appreciation rate, at 3.88%, has been at or slightly above the national average. In the latest quarter, Hamburg's appreciation rate has been -0.40%, which annualizes to a rate of -1.57%.

Relative to New York, our data show that Hamburg's latest annual appreciation rate is higher than 60% 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 village. Individual neighborhoods within Hamburg differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hamburg - 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 Hamburg real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$174,736

Hamburg, NY HOME PRICES

Value Range
> $1,111,000 0.0
$833,001 - $1,111,000 0.0
$555,001 - $833,000 0.5
$444,001 - $555,000 1.1
$333,001 - $444,000 3.3
$222,001 - $333,000 14.6
$111,001 - $222,000 70.4
$56,001 - $111,000 7.5
$0 - $56,000 2.5

Average for NY
High for Nation

Value Relative to Nation Value Relative to State
39.9800773467714 50.3928170594837

Number Of Homes And Apartments:
4,087

Hamburg 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
54.89% 2.57% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,087 / per month

Homeownership Rate

Homeownership
Owners 66.17
Renters 33.83
Vacant 1.33

Housing Market Details

 

Age of Homes

AGE OF Hamburg HOMES
2000 or Newer 3.5
1970 - 1999 20.5
1940 - 1969 45.1
1939 or Older 30.9

Types of Homes

TYPE OF Hamburg HOMES
Single-Family 71.7
Townhomes 2.4
Small Apt. Buildings 16.0
Apt. Complexes 10.0
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Hamburg HOMES
No Bedroom 2.05
1 Bedroom 10.28
2 Bedrooms 19.15
3 Bedrooms 44.83
4 Bedrooms 20.93
5 or more bedrooms 2.75