Hamilton, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hamilton, NY Real Estate Data


Hamilton Housing Market Information

With a population of 4,176, 762 total housing units (homes and apartments), and a median house value of $240,167, Hamilton real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Hamilton, accounting for 51.73% of the village's housing units. Other types of housing that are prevalent in Hamilton include duplexes, homes converted to apartments or other small apartment buildings ( 31.75%), large apartment complexes or high rise apartments ( 13.28%), and a few row houses and other attached homes ( 2.05%).

Renters dominate Hamilton's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.

The housing in Hamilton was primarily built before 1939 ( 69.11%), making the housing stock in Hamilton some of the oldest overall in America, although there is a range of ages of homes in Hamilton. The next most important housing age is between 1970-1999 ( 16.63%), followed by between 1940-1969 ( 8.75%). There's also some housing in Hamilton built between 2000 and later ( 5.51%).

Vacant housing appears to be an issue in Hamilton. Fully 17.71% of the housing stock is classified as vacant. Left unchecked, vacant Hamilton homes and apartments can be a drag on the real estate market, holding Hamilton 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.

Hamilton Home Appreciation Rates

In the last 10 years, Hamilton has experienced some of the highest home appreciation rates of any community in the nation. Hamilton real estate appreciated 31.02% over the last ten years, which is an average annual home appreciation rate of 2.74%, putting Hamilton in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Hamilton definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Hamilton appreciation rates have trailed the rest of the nation. In the last twelve months, Hamilton's appreciation rate has been 3.37%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hamilton were at -0.68%, which equates to an annual appreciation rate of -2.69%.

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

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

Average Home Values

 

Median Home Value:
$240,167

Hamilton, NY HOME PRICES

Value Range
> $1,096,000 0.4
$822,001 - $1,096,000 0.0
$547,001 - $822,000 1.1
$438,001 - $547,000 1.8
$328,001 - $438,000 16.3
$219,001 - $328,000 36.7
$109,001 - $219,000 32.6
$55,001 - $109,000 10.2
$0 - $55,000 0.9

High for NY
High for Nation

Value Relative to Nation Value Relative to State
24.7467353750659 38.9450056116723

Number Of Homes And Apartments:
762

Rent & Ownership

 

Average Market Rent:
$1,029 / per month

Homeownership Rate

Homeownership
Owners 26.75
Renters 73.25
Vacant 17.71

Housing Market Details

 

Age of Homes

AGE OF Hamilton HOMES
2000 or Newer 5.5
1970 - 1999 16.6
1940 - 1969 8.7
1939 or Older 69.1

Types of Homes

TYPE OF Hamilton HOMES
Single-Family 51.7
Townhomes 2.1
Small Apt. Buildings 31.7
Apt. Complexes 13.3
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Hamilton HOMES
No Bedroom 0.97
1 Bedroom 16.41
2 Bedrooms 21.06
3 Bedrooms 27.32
4 Bedrooms 23.33
5 or more bedrooms 10.91

Hamilton 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
90.55% 3.87% 10 10
* 10 is highest