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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 3,736 people, 1,673 houses or apartments, and a median cost of homes of $95,235, house prices in Owego 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 Owego, accounting for 58.14% of the village's housing units. Other types of housing that are prevalent in Owego include duplexes, homes converted to apartments or other small apartment buildings ( 29.77%), large apartment complexes or high rise apartments ( 11.51%).
People in Owego primarily live in small (one, two or no bedroom) single-family detached homes. Owego has a mixture of owner-occupied and renter-occupied housing.
The housing in Owego was primarily built before 1939 ( 68.88%), making the housing stock in Owego some of the oldest overall in America, although there is a range of ages of homes in Owego. The next most important housing age is between 1940-1969 ( 16.29%), followed by between 2000 and later ( 8.82%). There's also some housing in Owego built between 1970-1999 ( 6.02%).
Vacant housing appears to be an issue in Owego. Fully 13.23% of the housing stock is classified as vacant. Left unchecked, vacant Owego homes and apartments can be a drag on the real estate market, holding Owego 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.
Owego's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Owego during the period has been just -0.90%, which is lower than 70% of US communities.
Over the last year, Owego appreciation rates have trailed the rest of the nation. In the last twelve months, Owego's appreciation rate has been -9.15%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Owego were at -2.87%, which equates to an annual appreciation rate of -11.00%.
Notably, Owego's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Owego's latest annual appreciation rate is lower than 90% of the other cities and towns in New York.
|$688,001 - $918,000||0.0|
|$459,001 - $688,000||0.0|
|$367,001 - $459,000||0.0|
|$275,001 - $367,000||1.3|
|$184,001 - $275,000||5.8|
|$92,001 - $184,000||42.7|
|$46,001 - $92,000||36.1|
|$0 - $46,000||12.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Owego HOMES|
|2000 or Newer||8.8|
|1970 - 1999||6.0|
|1940 - 1969||16.3|
|1939 or Older||68.9|
|TYPE OF Owego HOMES|
|Small Apt. Buildings||29.8|
|SIZE OF Owego HOMES|
|5 or more bedrooms||6.28|