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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 10,683, 5,284 total housing units (homes and apartments), and a median house value of $205,311, house prices in Corning are solidly below the national average.
Single-family detached homes are the single most common housing type in Corning, accounting for 49.79% of the city's housing units. Other types of housing that are prevalent in Corning include duplexes, homes converted to apartments or other small apartment buildings ( 26.97%), large apartment complexes or high rise apartments ( 19.32%), and a few row houses and other attached homes ( 3.92%).
The most prevalent building size and type in Corning are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.07% owning and 48.93% renting.
The housing in Corning was primarily built before 1939 ( 46.53%), making the housing stock in Corning some of the oldest overall in America, although there is a range of ages of homes in Corning. The next most important housing age is between 1940-1969 ( 28.38%), followed by between 1970-1999 ( 21.12%). There's also some housing in Corning built between 2000 and later ( 3.97%).
Corning's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Corning during the period has been just 4.79%, which is lower than 80% of US communities.
Appreciation rates are so strong in Corning that despite a nationwide downturn in the housing market, Corning real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Corning appreciation rates continue to be some of the highest in America, at 9.03%, which is higher than appreciation rates in 80.97% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Corning. Corning appreciation rates in the latest quarter were at -2.87%, which equates to an annual appreciation rate of -11.00%.
Notably, Corning's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Corning's latest annual appreciation rate is higher than 70% 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 Corning differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Corning - 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 Corning real estate investment or home purchase decisions.
$205,311
for New york
for nation
5,284
$1,608 / per month