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 Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Schenectady Housing Market Information

With 65,273 people, 22,694 houses or apartments, and a median cost of homes of $121,294, 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 43.35% of the city's housing units. Other types of housing that are prevalent in Schenectady include single-family detached homes ( 36.57%), large apartment complexes or high rise apartments ( 17.90%), and a few row houses and other attached homes ( 2.08%). 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 47.11% owning and 52.89% renting.

The housing in Schenectady was primarily built before 1939 ( 56.18%), 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 ( 24.14%), followed by between 1970-1999 ( 17.79%). There's also some housing in Schenectady built between 2000 and later ( 1.89%).

Vacant housing appears to be an issue in Schenectady. Fully 30.31% 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

Some of the lowest real estate appreciation rates in America over the last ten years have been in Schenectady, where house values have increased just 7.29%, which is annualized rate of 0.71%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Schenectady's appreciation rate, at 4.06%, has been at or slightly above the national average. In the latest quarter, Schenectady's appreciation rate has been 2.03%, which annualizes to a rate of 8.39%.

Importantly, this makes Schenectady one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to New York, our data show that Schenectady'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 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

 
info

Median Home Value:
$121,294

Schenectady, NY HOME PRICES

> $1,165,000
0.3%
0.3%
$874,001 - $1,165,000
0.3%
0.3%
$582,001 - $874,000
0.3%
0.3%
$466,001 - $582,000
0.4%
0.4%
$349,001 - $466,000
1.2%
1.2%
$233,001 - $349,000
4.0%
4.0%
$116,001 - $233,000
45.9%
45.9%
$58,001 - $116,000
42.2%
42.2%
$0 - $58,000
5.4%
5.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

Very Low for NY

Value Relative To Nation

Number Of Homes And Apartments:
22,694

Schenectady Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
73.75% 2.70%
4
6
* 10 is highest

Rent & Ownership

 
info

Average Market Rent:
$1,103 / per month

Homeownership Rate

Owners
47.1%
47.1%
Renters
52.9%
52.9%
Vacant
30.3%
30.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 
info

Age of Homes

2000 or Newer
1.9%
1.9%
1970 - 1999
17.8%
17.8%
1940 - 1969
24.1%
24.1%
1939 or Older
56.2%
56.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
36.6%
36.6%
Townhomes
2.1%
2.1%
Small Apt. Buildings
43.4%
43.4%
Apt. Complexes
17.9%
17.9%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.2%
3.2%
1 Bedroom
16.2%
16.2%
2 Bedrooms
28.3%
28.3%
3 Bedrooms
41.1%
41.1%
4 Bedrooms
8.7%
8.7%
5 or more bedrooms
2.4%
2.4%
0.0% 100.0%
% OF HOMES