Saratoga Springs, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Saratoga Springs Neighborhoods Since 2000




Saratoga Springs, 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

Saratoga Springs Housing Market Information

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.

Saratoga Springs Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$353,162

Saratoga Springs, NY HOME PRICES

Value Range
> $1,098,000 1.5
$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

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
11.953591937185 28.2828282828283

Number Of Homes And Apartments:
11,616

Saratoga Springs 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
109.54% 4.38% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,307 / per month

Homeownership Rate

Homeownership
Owners 48.95
Renters 51.05
Vacant 12.47

Housing Market Details

 

Age of Homes

AGE OF Saratoga Springs HOMES
2000 or Newer 19.5
1970 - 1999 33.0
1940 - 1969 17.0
1939 or Older 30.5

Types of Homes

TYPE OF Saratoga Springs HOMES
Single-Family 53.7
Townhomes 4.3
Small Apt. Buildings 19.9
Apt. Complexes 20.8
Mobile Homes 1.2
Other 0.0

Home Size

SIZE OF Saratoga Springs HOMES
No Bedroom 2.64
1 Bedroom 15.23
2 Bedrooms 26.77
3 Bedrooms 34.83
4 Bedrooms 17.56
5 or more bedrooms 2.98