Homer, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Homer Neighborhoods Since 2000




Homer, 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

Homer Housing Market Information

With a population of 3,183, 1,285 total housing units (homes and apartments), and a median house value of $122,587, house prices in Homer are solidly below the national average.

Single-family detached homes are the single most common housing type in Homer, accounting for 61.87% of the village's housing units. Other types of housing that are prevalent in Homer include duplexes, homes converted to apartments or other small apartment buildings ( 31.08%), large apartment complexes or high rise apartments ( 5.52%), and a few row houses and other attached homes ( 1.53%).

The most prevalent building size and type in Homer are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 61.48% owning and 38.52% renting.

The housing in Homer was primarily built before 1939 ( 64.56%), making the housing stock in Homer some of the oldest overall in America, although there is a range of ages of homes in Homer. The next most important housing age is between 1940-1969 ( 26.22%), followed by between 1970-1999 ( 8.71%).

Homer Home Appreciation Rates

Real estate appreciation rates in Homer's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.11% during the period.

Appreciation rates are so strong in Homer that despite a nationwide downturn in the housing market, Homer real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Homer appreciation rates continue to be some of the highest in America, at 6.45%, which is higher than appreciation rates in 77.51% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Homer. Homer appreciation rates in the latest quarter were at -0.56%, which equates to an annual appreciation rate of -2.23%.

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

Relative to New York, our data show that Homer's latest annual appreciation rate is higher than 80% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$122,587

Homer, NY HOME PRICES

Value Range
> $1,036,000 0.0
$777,001 - $1,036,000 0.0
$518,001 - $777,000 0.9
$415,001 - $518,000 0.1
$311,001 - $415,000 3.5
$207,001 - $311,000 7.6
$104,001 - $207,000 56.9
$52,001 - $104,000 27.2
$0 - $52,000 3.8

Low for NY
Low for Nation

Value Relative to Nation Value Relative to State
64.0103129028478 71.9416386083053

Number Of Homes And Apartments:
1,285

Homer 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
31.09% 1.58% 2 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$827 / per month

Homeownership Rate

Homeownership
Owners 61.48
Renters 38.52
Vacant 6.68

Housing Market Details

 

Age of Homes

AGE OF Homer HOMES
2000 or Newer 0.5
1970 - 1999 8.7
1940 - 1969 26.2
1939 or Older 64.6

Types of Homes

TYPE OF Homer HOMES
Single-Family 61.9
Townhomes 1.5
Small Apt. Buildings 31.1
Apt. Complexes 5.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Homer HOMES
No Bedroom 0.00
1 Bedroom 15.03
2 Bedrooms 21.86
3 Bedrooms 38.13
4 Bedrooms 16.56
5 or more bedrooms 8.42