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 3,826, 1,774 total housing units (homes and apartments), and a median house value of $149,853, house prices in Elmira Heights are some of the most affordable in New York as well as the nation.
Single-family detached homes are the single most common housing type in Elmira Heights, accounting for 55.41% of the village's housing units. Other types of housing that are prevalent in Elmira Heights include duplexes, homes converted to apartments or other small apartment buildings ( 27.02%), large apartment complexes or high rise apartments ( 12.97%), and a few row houses and other attached homes ( 4.60%).
People in Elmira Heights primarily live in small (one, two or no bedroom) single-family detached homes. Elmira Heights has a mixture of owner-occupied and renter-occupied housing.
The housing in Elmira Heights was primarily built before 1939 ( 54.48%), making the housing stock in Elmira Heights some of the oldest overall in America, although there is a range of ages of homes in Elmira Heights. The next most important housing age is between 1940-1969 ( 31.23%), followed by between 1970-1999 ( 13.75%).
Vacant housing appears to be an issue in Elmira Heights. Fully 13.17% of the housing stock is classified as vacant. Left unchecked, vacant Elmira Heights homes and apartments can be a drag on the real estate market, holding Elmira Heights 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Elmira Heights, where house values have increased just 44.52%, which is annualized rate of 3.75%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Elmira Heights appreciation rates have trailed the rest of the nation. In the last twelve months, Elmira Heights's appreciation rate has been -6.83%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Elmira Heights were at 10.57%, which equates to an annual appreciation rate of 49.47%.
Importantly, this makes Elmira Heights 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 Elmira Heights's latest annual appreciation rate is lower than 90% of the other cities and towns in New York.
$149,853
for New york
for nation
1,774
$1,470 / per month