Owego, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Owego Neighborhoods Since 2000




Owego, 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

Owego Housing Market Information

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 Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$95,235

Owego, NY HOME PRICES

Value Range
> $918,000 1.2
$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

Very Low for NY
Very Low for Nation

Value Relative to Nation Value Relative to State
80.6340091409821 86.7564534231201

Number Of Homes And Apartments:
1,673

Owego 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
41.25% 2.02% 3 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$678 / per month

Homeownership Rate

Homeownership
Owners 55.10
Renters 44.90
Vacant 13.23

Housing Market Details

 

Age of Homes

AGE OF Owego HOMES
2000 or Newer 8.8
1970 - 1999 6.0
1940 - 1969 16.3
1939 or Older 68.9

Types of Homes

TYPE OF Owego HOMES
Single-Family 58.1
Townhomes 0.6
Small Apt. Buildings 29.8
Apt. Complexes 11.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Owego HOMES
No Bedroom 2.13
1 Bedroom 22.25
2 Bedrooms 25.62
3 Bedrooms 29.51
4 Bedrooms 14.21
5 or more bedrooms 6.28