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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Hornell, NY Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Hornell, NY Housing Market Trends

With a population of 8,093, 3,734 total housing units (homes and apartments), and a median house value of $101,988, house prices in Hornell 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 Hornell, accounting for 54.89% of the city's housing units. Other types of housing that are prevalent in Hornell include duplexes, homes converted to apartments or other small apartment buildings ( 29.53%), large apartment complexes or high rise apartments ( 13.24%), and a few row houses and other attached homes ( 2.08%).

The most prevalent building size and type in Hornell are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.86% owning and 52.14% renting.

The housing in Hornell was primarily built before 1939 ( 59.48%), making the housing stock in Hornell some of the oldest overall in America, although there is a range of ages of homes in Hornell. The next most important housing age is between 1940-1969 ( 24.14%), followed by between 1970-1999 ( 13.12%). There's also some housing in Hornell built between 2000 and later ( 3.26%).

Vacant housing appears to be an issue in Hornell. Fully 11.73% of the housing stock is classified as vacant. Left unchecked, vacant Hornell homes and apartments can be a drag on the real estate market, holding Hornell 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.

Hornell Home Appreciation Rates

Real estate appreciation rates in Hornell's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.72% during the period.

Appreciation rates are so strong in Hornell that despite a nationwide downturn in the housing market, Hornell real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hornell appreciation rates continue to be some of the highest in America, at 8.56%, which is higher than appreciation rates in 88.96% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hornell. Hornell appreciation rates in the latest quarter were at 4.61%, which equates to an annual appreciation rate of 19.76%.

Importantly, this makes Hornell one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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

Average Home Values

Median Home Value

$101,988

Hornell, NY Home Prices
> $1,300,000
$975,001 - $1,300,000
$650,001 - $975,000
$520,001 - $650,000
$390,001 - $520,000
$260,001 - $390,000
$130,001 - $260,000
$65,001 - $130,000
$0 - $65,000
0.0%
0.0%
0.0%
0.0%
1.7%
1.7%
0.9%
0.9%
0.5%
0.5%
7.0%
7.0%
23.5%
23.5%
50.3%
50.3%
16.1%
16.1%
0% 100.0%
% of Homes
Very Low

for New york

Very Low

for nation

Number of Homes And Apartments:

3,734

Hornell Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,164 / per month

Homeownership Rate

Owners
Renters
47.9%
47.9%
52.1%
52.1%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
11.7%
11.7%
88.3%
88.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
3.3%
3.3%
13.1%
13.1%
24.1%
24.1%
59.5%
59.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
54.9%
54.9%
2.1%
2.1%
29.5%
29.5%
13.2%
13.2%
0.3%
0.3%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.6%
2.6%
17.4%
17.4%
28.4%
28.4%
39.1%
39.1%
9.6%
9.6%
2.9%
2.9%
0% 100.0%
% of Homes

Popular Neighborhoods in Hornell

Zip Codes in Hornell, NY