Lockport, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Lockport Neighborhoods Since 2000




Lockport, 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

Lockport Housing Market Information

With a population of 20,624, 8,912 total housing units (homes and apartments), and a median house value of $81,210, house prices in Lockport 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 Lockport, accounting for 57.88% of the city's housing units. Other types of housing that are prevalent in Lockport include duplexes, homes converted to apartments or other small apartment buildings ( 26.24%), large apartment complexes or high rise apartments ( 13.21%), and a few row houses and other attached homes ( 2.41%).

The most prevalent building size and type in Lockport are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.63% owning and 43.37% renting.

The housing in Lockport was primarily built before 1939 ( 53.34%), making the housing stock in Lockport some of the oldest overall in America, although there is a range of ages of homes in Lockport. The next most important housing age is between 1940-1969 ( 27.06%), followed by between 1970-1999 ( 17.46%). There's also some housing in Lockport built between 2000 and later ( 2.14%).

Vacant housing appears to be an issue in Lockport. Fully 13.37% of the housing stock is classified as vacant. Left unchecked, vacant Lockport homes and apartments can be a drag on the real estate market, holding Lockport 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.

Lockport Home Appreciation Rates

Appreciation rates for homes in Lockport have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.65%, which ranks in the top 30% nationwide. This equates to an annual average Lockport house appreciation rate of 1.11%.

NeighborhoodScout's data show that during the latest twelve months, Lockport's appreciation rate, at 4.60%, has been at or slightly above the national average. In the latest quarter, Lockport's appreciation rate has been -0.40%, which annualizes to a rate of -1.57%.

Relative to New York, our data show that Lockport's latest annual appreciation rate is higher than 70% 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 Lockport differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lockport - 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 Lockport real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$81,210

Lockport, NY HOME PRICES

Value Range
> $1,087,000 0.1
$815,001 - $1,087,000 0.1
$543,001 - $815,000 1.0
$435,001 - $543,000 0.2
$326,001 - $435,000 0.4
$217,001 - $326,000 2.7
$108,001 - $217,000 26.4
$54,001 - $108,000 53.5
$0 - $54,000 15.5

Very Low for NY
Very Low for Nation

Value Relative to Nation Value Relative to State
89.7046759639048 95.5106621773288

Number Of Homes And Apartments:
8,912

Lockport 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
33.13% 1.67% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$961 / per month

Homeownership Rate

Homeownership
Owners 56.63
Renters 43.37
Vacant 13.37

Housing Market Details

 

Age of Homes

AGE OF Lockport HOMES
2000 or Newer 2.1
1970 - 1999 17.5
1940 - 1969 27.1
1939 or Older 53.3

Types of Homes

TYPE OF Lockport HOMES
Single-Family 57.9
Townhomes 2.4
Small Apt. Buildings 26.2
Apt. Complexes 13.2
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Lockport HOMES
No Bedroom 1.09
1 Bedroom 17.08
2 Bedrooms 26.92
3 Bedrooms 37.17
4 Bedrooms 14.47
5 or more bedrooms 3.27