Scotia, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Scotia Neighborhoods Since 2000




Scotia, 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

Scotia Housing Market Information

With a population of 7,727, 3,055 total housing units (homes and apartments), and a median house value of $153,908, 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 61.08% 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 ( 20.03%), large apartment complexes or high rise apartments ( 17.61%), and a few row houses and other attached homes ( 1.27%).

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 68.79% of Scotia's homes, and 56.96% have either three or four bedrooms, which is average sized relative to America.

The housing in Scotia was primarily built before 1939 ( 48.46%), 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 ( 26.09%), followed by between 1970-1999 ( 22.46%). There's also some housing in Scotia built between 2000 and later ( 3.00%).

Vacant housing appears to be an issue in Scotia. Fully 11.93% 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

Real estate appreciation rates in Scotia's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.68% during the period.

Over the last year, Scotia appreciation rates have trailed the rest of the nation. In the last twelve months, Scotia's appreciation rate has been 0.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Scotia were at 0.82%, which equates to an annual appreciation rate of 3.32%.

Relative to New York, our data show that Scotia's latest annual appreciation rate is lower than 80% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$153,908

Scotia, NY HOME PRICES

Value Range
> $1,010,000 1.3
$757,001 - $1,010,000 0.0
$505,001 - $757,000 0.0
$404,001 - $505,000 0.0
$303,001 - $404,000 0.5
$202,001 - $303,000 13.8
$101,001 - $202,000 68.8
$51,001 - $101,000 13.3
$0 - $51,000 2.2

Average for NY
Average for Nation

Value Relative to Nation Value Relative to State
48.3534513066917 58.2491582491582

Number Of Homes And Apartments:
3,055

Scotia 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
57.76% 2.68% 6 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$962 / per month

Homeownership Rate

Homeownership
Owners 68.79
Renters 31.21
Vacant 11.93

Housing Market Details

 

Age of Homes

AGE OF Scotia HOMES
2000 or Newer 3.0
1970 - 1999 22.5
1940 - 1969 26.1
1939 or Older 48.5

Types of Homes

TYPE OF Scotia HOMES
Single-Family 61.1
Townhomes 1.3
Small Apt. Buildings 20.0
Apt. Complexes 17.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Scotia HOMES
No Bedroom 3.37
1 Bedroom 13.75
2 Bedrooms 23.18
3 Bedrooms 44.19
4 Bedrooms 12.77
5 or more bedrooms 2.74