Schenectady, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Schenectady Neighborhoods Since 2000




Schenectady, 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

Schenectady Housing Market Information

With 65,305 people, 24,087 houses or apartments, and a median cost of homes of $104,807, house prices in Schenectady are solidly below the national average.

Duplexes, homes converted to apartments or other small apartment buildings are the single most common housing type in Schenectady, accounting for 43.20% of the city's housing units. Other types of housing that are prevalent in Schenectady include single-family detached homes ( 37.88%), large apartment complexes or high rise apartments ( 16.50%), and a few row houses and other attached homes ( 2.20%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

The most prevalent building size and type in Schenectady are three and four bedroom dwellings. The city has a mixture of owners and renters, with 45.85% owning and 54.15% renting.

The housing in Schenectady was primarily built before 1939 ( 58.87%), making the housing stock in Schenectady some of the oldest overall in America, although there is a range of ages of homes in Schenectady. The next most important housing age is between 1940-1969 ( 24.66%), followed by between 1970-1999 ( 15.01%). There's also some housing in Schenectady built between 2000 and later ( 1.46%).

Vacant housing appears to be an issue in Schenectady. Fully 23.21% of the housing stock is classified as vacant. Left unchecked, vacant Schenectady homes and apartments can be a drag on the real estate market, holding Schenectady 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.

Schenectady Home Appreciation Rates

Schenectady's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Schenectady during the period has been just -0.87%, which is lower than 70% of US communities.

Over the last year, Schenectady appreciation rates have trailed the rest of the nation. In the last twelve months, Schenectady's appreciation rate has been 1.46%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Schenectady were at 0.82%, which equates to an annual appreciation rate of 3.32%.

Relative to New York, our data show that Schenectady's latest annual appreciation rate is lower 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 Schenectady differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Schenectady - 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 Schenectady real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$104,807

Schenectady, NY HOME PRICES

Value Range
> $1,021,000 0.5
$766,001 - $1,021,000 0.6
$511,001 - $766,000 0.1
$408,001 - $511,000 0.6
$306,001 - $408,000 1.5
$204,001 - $306,000 3.8
$102,001 - $204,000 48.1
$51,001 - $102,000 37.7
$0 - $51,000 7.0

Very Low for NY
Low for Nation

Value Relative to Nation Value Relative to State
74.43454822454 80.5836139169472

Number Of Homes And Apartments:
24,087

Schenectady 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
53.17% 2.50% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$984 / per month

Homeownership Rate

Homeownership
Owners 45.85
Renters 54.15
Vacant 23.21

Housing Market Details

 

Age of Homes

AGE OF Schenectady HOMES
2000 or Newer 1.5
1970 - 1999 15.0
1940 - 1969 24.7
1939 or Older 58.9

Types of Homes

TYPE OF Schenectady HOMES
Single-Family 37.9
Townhomes 2.2
Small Apt. Buildings 43.2
Apt. Complexes 16.5
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Schenectady HOMES
No Bedroom 2.72
1 Bedroom 16.73
2 Bedrooms 27.23
3 Bedrooms 40.67
4 Bedrooms 9.39
5 or more bedrooms 3.27