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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Saratoga Springs, NY Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Saratoga Springs, NY Housing Market Trends

With 28,593 people, 12,704 houses or apartments, and a median cost of homes of $674,732, Saratoga Springs house prices are not only among the most expensive in New York, Saratoga Springs real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Saratoga Springs, accounting for 50.30% of the city's housing units. Other types of housing that are prevalent in Saratoga Springs include large apartment complexes or high rise apartments ( 24.58%), duplexes, homes converted to apartments or other small apartment buildings ( 18.85%), and a few row houses and other attached homes ( 5.36%).

People in Saratoga Springs primarily live in small (one, two or no bedroom) single-family detached homes. Saratoga Springs has a mixture of owner-occupied and renter-occupied housing.

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 ( 26.64%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.54%). There's also some housing in Saratoga Springs built between 1940-1969 ( 16.57%).

Vacant housing appears to be an issue in Saratoga Springs. Fully 12.96% 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

Real estate appreciation rates in Saratoga Springs's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.81% during the period.

Appreciation rates are so strong in Saratoga Springs that despite a nationwide downturn in the housing market, Saratoga Springs real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Saratoga Springs appreciation rates continue to be some of the highest in America, at 11.30%, which is higher than appreciation rates in 98.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Saratoga Springs. Saratoga Springs appreciation rates in the latest quarter were at 4.90%, which equates to an annual appreciation rate of 21.09%.

Importantly, NeighborhoodScout’s exclusive research found that Saratoga Springs's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to New York, our data show that Saratoga Springs's latest annual appreciation rate is higher than 90% 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

$674,732

Saratoga Springs, NY Home Prices
> $1,338,000
$1,004,001 - $1,338,000
$669,001 - $1,004,000
$536,001 - $669,000
$401,001 - $536,000
$268,001 - $401,000
$134,001 - $268,000
$67,001 - $134,000
$0 - $67,000
9.6%
9.6%
12.9%
12.9%
16.7%
16.7%
17.8%
17.8%
19.4%
19.4%
17.0%
17.0%
3.6%
3.6%
0.6%
0.6%
2.3%
2.3%
0% 100.0%
% of Homes
Very High

for New york

Very High

for nation

Number of Homes And Apartments:

12,704

Saratoga Springs Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,327 / per month

Homeownership Rate

Owners
Renters
51.4%
51.4%
48.6%
48.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
13.0%
13.0%
87.0%
87.0%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
22.5%
22.5%
34.2%
34.2%
16.6%
16.6%
26.6%
26.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
50.3%
50.3%
5.4%
5.4%
18.9%
18.9%
24.6%
24.6%
0.9%
0.9%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.1%
4.1%
14.7%
14.7%
30.4%
30.4%
29.9%
29.9%
16.1%
16.1%
4.9%
4.9%
0% 100.0%
% of Homes