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 $159,100, 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 48.75%, which is annualized rate of 4.05%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Elmira Heights that despite a nationwide downturn in the housing market, Elmira Heights real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Elmira Heights appreciation rates continue to be some of the highest in America, at 6.92%, which is higher than appreciation rates in 73.23% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Elmira Heights. Elmira Heights appreciation rates in the latest quarter were at -7.08%, which equates to an annual appreciation rate of -25.44%.
Notably, Elmira Heights's appreciation rate in the latest quarter is one of the lowest in America.
Relative to New York, our data show that Elmira Heights's latest annual appreciation rate is lower than 60% of the other cities and towns in New York.
$159,100
for New york
for nation
1,774
$1,343 / per month