Niagara Falls, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Niagara Falls, NY Real Estate Data


Niagara Falls Housing Market Information

With a population of 48,916, 21,292 total housing units (homes and apartments), and a median house value of $64,718, house prices in Niagara Falls 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 Niagara Falls, accounting for 59.16% of the city's housing units. Other types of housing that are prevalent in Niagara Falls include duplexes, homes converted to apartments or other small apartment buildings ( 23.42%), large apartment complexes or high rise apartments ( 13.14%), and a few row houses and other attached homes ( 3.13%).

The most prevalent building size and type in Niagara Falls are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.25% owning and 43.75% renting.

The housing in Niagara Falls was primarily built before 1939 ( 48.16%), making the housing stock in Niagara Falls some of the oldest overall in America, although there is a range of ages of homes in Niagara Falls. The next most important housing age is between 1940-1969 ( 41.55%), followed by between 1970-1999 ( 8.41%). There's also some housing in Niagara Falls built between 2000 and later ( 1.87%).

Vacant housing appears to be an issue in Niagara Falls. Fully 19.23% of the housing stock is classified as vacant. Left unchecked, vacant Niagara Falls homes and apartments can be a drag on the real estate market, holding Niagara Falls 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.

Niagara Falls Home Appreciation Rates

Appreciation rates for homes in Niagara Falls have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.91%, which ranks in the top 30% nationwide. This equates to an annual average Niagara Falls house appreciation rate of 1.13%.

Over the last year, Niagara Falls appreciation rates have trailed the rest of the nation. In the last twelve months, Niagara Falls's appreciation rate has been 2.44%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Niagara Falls were at -1.76%, which equates to an annual appreciation rate of -6.86%.

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

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

Average Home Values

 

Median Home Value:
$64,718

Niagara Falls, NY HOME PRICES

Value Range
> $1,091,000 0.0
$818,001 - $1,091,000 0.5
$546,001 - $818,000 0.9
$436,001 - $546,000 0.5
$327,001 - $436,000 0.7
$218,001 - $327,000 0.8
$109,001 - $218,000 12.9
$54,001 - $109,000 50.4
$0 - $54,000 32.9

Very Low for NY
Very Low for Nation

Value Relative to Nation Value Relative to State
96.8299542950896 99.4388327721661

Number Of Homes And Apartments:
21,292

Rent & Ownership

 

Average Market Rent:
$823 / per month

Homeownership Rate

Homeownership
Owners 56.25
Renters 43.75
Vacant 19.23

Housing Market Details

 

Age of Homes

AGE OF Niagara Falls HOMES
2000 or Newer 1.9
1970 - 1999 8.4
1940 - 1969 41.6
1939 or Older 48.2

Types of Homes

TYPE OF Niagara Falls HOMES
Single-Family 59.2
Townhomes 3.1
Small Apt. Buildings 23.4
Apt. Complexes 13.1
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Niagara Falls HOMES
No Bedroom 1.27
1 Bedroom 13.33
2 Bedrooms 30.29
3 Bedrooms 41.03
4 Bedrooms 11.07
5 or more bedrooms 3.00

Niagara Falls Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
38.93% 1.92% 2 5
* 10 is highest