Niagara Falls, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Niagara Falls, 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

Niagara Falls Housing Market Information

With 48,916 people, 21,292 houses or apartments, and a median cost of homes of $64,479, 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 11.86%, which ranks in the top 30% nationwide. This equates to an annual average Niagara Falls house appreciation rate of 1.13%.

NeighborhoodScout's data show that during the latest twelve months, Niagara Falls's appreciation rate, at 5.11%, has been at or slightly above the national average. In the latest quarter, Niagara Falls's appreciation rate has been -0.40%, which annualizes to a rate of -1.57%.

Relative to New York, our data show that Niagara Falls'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 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:
$64,479

Niagara Falls, NY HOME PRICES

Value Range
> $1,087,000 0.4
$815,001 - $1,087,000 0.5
$543,001 - $815,000 0.9
$434,001 - $543,000 0.5
$326,001 - $434,000 0.7
$217,001 - $326,000 0.8
$109,001 - $217,000 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
96.9412867690144 99.4388327721661

Number Of Homes And Apartments:
21,292

Niagara Falls 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
38.66% 1.91% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$862 / 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