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 27,765 people, 11,616 houses or apartments, and a median cost of homes of $353,162, real estate costs in Saratoga Springs are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New York communities.
Single-family detached homes are the single most common housing type in Saratoga Springs, accounting for 53.67% of the city's housing units. Other types of housing that are prevalent in Saratoga Springs include large apartment complexes or high rise apartments ( 20.83%), duplexes, homes converted to apartments or other small apartment buildings ( 19.95%), and a few row houses and other attached homes ( 4.30%).
The most prevalent building size and type in Saratoga Springs are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 48.95% owning and 51.05% renting.
There is a lot of housing in Saratoga Springs built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Saratoga Springs built before 1939 ( 30.50%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.52%). There's also some housing in Saratoga Springs built between 1940-1969 ( 16.98%).
Vacant housing appears to be an issue in Saratoga Springs. Fully 12.47% of the housing stock is classified as vacant. Left unchecked, vacant Saratoga Springs homes and apartments can be a drag on the real estate market, holding Saratoga Springs 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.
Appreciation rates for homes in Saratoga Springs have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 10.04%, which ranks in the top 30% nationwide. This equates to an annual average Saratoga Springs house appreciation rate of 0.96%.
NeighborhoodScout's data show that during the latest twelve months, Saratoga Springs's appreciation rate, at 3.41%, has been at or slightly above the national average. In the latest quarter, Saratoga Springs's appreciation rate has been 0.82%, which annualizes to a rate of 3.32%.
Relative to New York, our data show that Saratoga Springs's latest annual appreciation rate is higher than 60% 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 Saratoga Springs differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Saratoga Springs - 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 Saratoga Springs real estate investment or home purchase decisions.
|$823,001 - $1,098,000||5.6|
|$549,001 - $823,000||14.7|
|$439,001 - $549,000||10.3|
|$330,001 - $439,000||21.8|
|$220,001 - $330,000||24.8|
|$110,001 - $220,000||15.6|
|$55,001 - $110,000||2.7|
|$0 - $55,000||3.0|
|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 Saratoga Springs HOMES|
|2000 or Newer||19.5|
|1970 - 1999||33.0|
|1940 - 1969||17.0|
|1939 or Older||30.5|
|TYPE OF Saratoga Springs HOMES|
|Small Apt. Buildings||19.9|
|SIZE OF Saratoga Springs HOMES|
|5 or more bedrooms||2.98|