Owego, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Owego Neighborhoods Since 2000




Owego, NY Real Estate Data


Owego Housing Market Information

With 3,736 people, 1,699 houses or apartments, and a median cost of homes of $101,501, house prices in Owego are solidly below the national average.

Single-family detached homes are the single most common housing type in Owego, accounting for 59.49% 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 ( 29.93%), large apartment complexes or high rise apartments ( 10.58%).

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 ( 68.21%), 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 ( 17.32%), followed by between 2000 and later ( 8.87%). There's also some housing in Owego built between 1970-1999 ( 5.60%).

Vacant housing appears to be an issue in Owego. Fully 11.88% 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

Real estate appreciation rates in Owego's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.36% during the period.

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 -3.05%, 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 -1.78%, which equates to an annual appreciation rate of -6.92%.

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:
$101,501

Owego, NY HOME PRICES

Value Range
> $955,000 1.3
$716,001 - $955,000 2.5
$478,001 - $716,000 0.0
$382,001 - $478,000 0.0
$287,001 - $382,000 2.4
$191,001 - $287,000 3.2
$96,001 - $191,000 39.3
$48,001 - $96,000 41.0
$0 - $48,000 10.1

Very Low for NY
Low for Nation

Value Relative to Nation Value Relative to State
77.8825320606664 82.8282828282828

Number Of Homes And Apartments:
1,699

Rent & Ownership

 

Average Market Rent:
$701 / per month

Homeownership Rate

Homeownership
Owners 55.34
Renters 44.66
Vacant 11.88

Housing Market Details

 

Age of Homes

AGE OF Owego HOMES
2000 or Newer 8.9
1970 - 1999 5.6
1940 - 1969 17.3
1939 or Older 68.2

Types of Homes

TYPE OF Owego HOMES
Single-Family 59.5
Townhomes 0.0
Small Apt. Buildings 29.9
Apt. Complexes 10.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Owego HOMES
No Bedroom 1.97
1 Bedroom 21.94
2 Bedrooms 27.18
3 Bedrooms 27.59
4 Bedrooms 12.45
5 or more bedrooms 8.87

Owego Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
51.19% 2.46% 4 6
* 10 is highest