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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.



Scotia, 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

Scotia, NY Housing Market Trends

With 7,236 people, 3,156 houses or apartments, and a median cost of homes of $262,984, Scotia real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Scotia, accounting for 60.67% of the village's housing units. Other types of housing that are prevalent in Scotia include duplexes, homes converted to apartments or other small apartment buildings ( 18.62%), large apartment complexes or high rise apartments ( 13.80%), and a few mobile homes or trailers ( 5.47%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Scotia. Owner-occupied housing accounts for 72.23% of Scotia's homes, and 63.12% have either three or four bedrooms, which is average sized relative to America.

The housing in Scotia was primarily built before 1939 ( 50.85%), making the housing stock in Scotia some of the oldest overall in America, although there is a range of ages of homes in Scotia. The next most important housing age is between 1940-1969 ( 21.67%), followed by between 1970-1999 ( 18.85%). There's also some housing in Scotia built between 2000 and later ( 8.63%).

Vacant housing appears to be an issue in Scotia. Fully 10.95% of the housing stock is classified as vacant. Left unchecked, vacant Scotia homes and apartments can be a drag on the real estate market, holding Scotia 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.

Scotia Home Appreciation Rates

Scotia's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Scotia during the period has been just 5.13%, which is lower than 70% of US communities.

Appreciation rates are so strong in Scotia that despite a nationwide downturn in the housing market, Scotia real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Scotia 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 Scotia. Scotia appreciation rates in the latest quarter were at 4.90%, which equates to an annual appreciation rate of 21.09%.

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

Relative to New York, our data show that Scotia's latest annual appreciation rate is higher than 90% of the other cities and towns in New York.

Average Home Values

Median Home Value

$262,984

Scotia, NY Home Prices
> $1,374,000
$1,030,001 - $1,374,000
$687,001 - $1,030,000
$550,001 - $687,000
$412,001 - $550,000
$275,001 - $412,000
$138,001 - $275,000
$69,001 - $138,000
$0 - $69,000
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
1.2%
1.2%
28.9%
28.9%
65.5%
65.5%
2.8%
2.8%
1.6%
1.6%
0% 100.0%
% of Homes
Average

for New york

Average

for nation

Number of Homes And Apartments:

3,156

Scotia Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,561 / per month

Homeownership Rate

Owners
Renters
72.2%
72.2%
27.8%
27.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
10.9%
10.9%
89.1%
89.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
8.6%
8.6%
18.8%
18.8%
21.7%
21.7%
50.8%
50.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
60.7%
60.7%
1.4%
1.4%
18.6%
18.6%
13.8%
13.8%
5.5%
5.5%
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
0.0%
0.0%
13.0%
13.0%
21.5%
21.5%
53.0%
53.0%
10.1%
10.1%
2.4%
2.4%
0% 100.0%
% of Homes