Penn Yan, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Penn Yan Neighborhoods Since 2000




Penn Yan, NY Real Estate Data


Penn Yan Housing Market Information

With a population of 5,014, 2,078 total housing units (homes and apartments), and a median house value of $152,829, Penn Yan real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Penn Yan, accounting for 63.18% of the village's housing units. Other types of housing that are prevalent in Penn Yan include duplexes, homes converted to apartments or other small apartment buildings ( 20.86%), large apartment complexes or high rise apartments ( 13.10%), and a few row houses and other attached homes ( 1.78%).

The most prevalent building size and type in Penn Yan are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 51.63% owning and 48.37% renting.

The housing in Penn Yan was primarily built before 1939 ( 59.93%), making the housing stock in Penn Yan some of the oldest overall in America, although there is a range of ages of homes in Penn Yan. The next most important housing age is between 1940-1969 ( 24.63%), followed by between 1970-1999 ( 12.40%). There's also some housing in Penn Yan built between 2000 and later ( 3.04%).

Penn Yan Home Appreciation Rates

In the last 10 years, Penn Yan has experienced some of the highest home appreciation rates of any community in the nation. Penn Yan real estate appreciated 24.04% over the last ten years, which is an average annual home appreciation rate of 2.18%, putting Penn Yan in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Penn Yan definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Penn Yan appreciation rates have trailed the rest of the nation. In the last twelve months, Penn Yan's appreciation rate has been 3.98%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Penn Yan were at 2.93%, which equates to an annual appreciation rate of 12.25%.

Importantly, this makes Penn Yan one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

Relative to New York, our data show that Penn Yan's latest annual appreciation rate is higher than 60% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$152,829

Penn Yan, NY HOME PRICES

Value Range
> $1,083,000 2.2
$812,001 - $1,083,000 2.2
$541,001 - $812,000 3.7
$433,001 - $541,000 3.6
$325,001 - $433,000 3.5
$217,001 - $325,000 10.7
$108,001 - $217,000 39.5
$54,001 - $108,000 29.3
$0 - $54,000 5.3

Average for NY
Average for Nation

Value Relative to Nation Value Relative to State
49.5578848743925 58.5858585858586

Number Of Homes And Apartments:
2,078

Rent & Ownership

 

Average Market Rent:
$908 / per month

Homeownership Rate

Homeownership
Owners 51.63
Renters 48.37
Vacant 9.89

Housing Market Details

 

Age of Homes

AGE OF Penn Yan HOMES
2000 or Newer 3.0
1970 - 1999 12.4
1940 - 1969 24.6
1939 or Older 59.9

Types of Homes

TYPE OF Penn Yan HOMES
Single-Family 63.2
Townhomes 1.8
Small Apt. Buildings 20.9
Apt. Complexes 13.1
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Penn Yan HOMES
No Bedroom 2.47
1 Bedroom 20.86
2 Bedrooms 20.34
3 Bedrooms 35.82
4 Bedrooms 14.70
5 or more bedrooms 5.81

Penn Yan 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
80.02% 3.52% 9 9
* 10 is highest