Saratoga Springs, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Saratoga Springs, NY Real Estate Data


Saratoga Springs Housing Market Information

With a population of 27,765, 11,590 total housing units (homes and apartments), and a median house value of $377,139, 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 54.64% of the city's housing units. Other types of housing that are prevalent in Saratoga Springs include large apartment complexes or high rise apartments ( 21.80%), duplexes, homes converted to apartments or other small apartment buildings ( 17.41%), and a few row houses and other attached homes ( 4.81%).

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 48.98% owning and 51.02% 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 ( 32.68%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.31%). There's also some housing in Saratoga Springs built between 2000 and later ( 15.45%).

Vacant housing appears to be an issue in Saratoga Springs. Fully 10.58% 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 10.07%, which ranks in the top 40% nationwide. This equates to an annual average Saratoga Springs house appreciation rate of 0.96%.

Over the last year, Saratoga Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Saratoga Springs's appreciation rate has been 4.13%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Saratoga Springs were at 1.15%, which equates to an annual appreciation rate of 4.70%.

Relative to New York, our data show that Saratoga Springs's latest annual appreciation rate is higher than 70% 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:
$377,139

Saratoga Springs, NY HOME PRICES

Value Range
> $1,086,000 1.7
$815,001 - $1,086,000 5.1
$543,001 - $815,000 15.4
$435,001 - $543,000 10.4
$326,001 - $435,000 20.2
$217,001 - $326,000 24.4
$109,001 - $217,000 17.7
$54,001 - $109,000 1.8
$0 - $54,000 3.3

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
10.8449961937108 25.2525252525253

Number Of Homes And Apartments:
11,590

Rent & Ownership

 

Average Market Rent:
$1,473 / per month

Homeownership Rate

Homeownership
Owners 48.98
Renters 51.02
Vacant 10.58

Housing Market Details

 

Age of Homes

AGE OF Saratoga Springs HOMES
2000 or Newer 15.5
1970 - 1999 33.6
1940 - 1969 18.3
1939 or Older 32.7

Types of Homes

TYPE OF Saratoga Springs HOMES
Single-Family 54.6
Townhomes 4.8
Small Apt. Buildings 17.4
Apt. Complexes 21.8
Mobile Homes 1.2
Other 0.1

Home Size

SIZE OF Saratoga Springs HOMES
No Bedroom 2.70
1 Bedroom 15.72
2 Bedrooms 25.79
3 Bedrooms 33.42
4 Bedrooms 18.69
5 or more bedrooms 3.69

Saratoga Springs 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
105.98% 4.34% 10 10
* 10 is highest