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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.



Geneseo, 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

Geneseo, NY Housing Market Trends

With 7,748 people, 1,883 houses or apartments, and a median cost of homes of $265,756, Geneseo 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 Geneseo, accounting for 41.48% of the village's housing units. Other types of housing that are prevalent in Geneseo include large apartment complexes or high rise apartments ( 39.20%), duplexes, homes converted to apartments or other small apartment buildings ( 15.13%), and a few row houses and other attached homes ( 4.19%).

Renters dominate Geneseo's housing market, and most live in three of four bedroom dwellings, chiefly found in single-family detached homes.

There is a lot of housing in Geneseo built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Geneseo built before 1939 ( 29.33%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.18%). There's also some housing in Geneseo built between 1940-1969 ( 15.92%).

Vacant housing appears to be an issue in Geneseo. Fully 12.34% of the housing stock is classified as vacant. Left unchecked, vacant Geneseo homes and apartments can be a drag on the real estate market, holding Geneseo 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.

Geneseo Home Appreciation Rates

Geneseo's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Geneseo during the period has been just 4.95%, which is lower than 70% of US communities.

Appreciation rates are so strong in Geneseo that despite a nationwide downturn in the housing market, Geneseo real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Geneseo appreciation rates continue to be some of the highest in America, at 11.24%, which is higher than appreciation rates in 98.03% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Geneseo. Geneseo appreciation rates in the latest quarter were at 1.91%, which equates to an annual appreciation rate of 7.85%.

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

Average Home Values

Median Home Value

$265,756

Geneseo, NY Home Prices
> $1,304,000
$978,001 - $1,304,000
$652,001 - $978,000
$522,001 - $652,000
$391,001 - $522,000
$261,001 - $391,000
$130,001 - $261,000
$65,001 - $130,000
$0 - $65,000
0.8%
0.8%
0.0%
0.0%
0.3%
0.3%
0.1%
0.1%
7.8%
7.8%
35.8%
35.8%
50.9%
50.9%
2.6%
2.6%
1.6%
1.6%
0% 100.0%
% of Homes
Average

for New york

Average

for nation

Number of Homes And Apartments:

1,883

Geneseo Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,698 / per month

Homeownership Rate

Owners
Renters
23.1%
23.1%
76.9%
76.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
12.3%
12.3%
87.7%
87.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.2%
17.2%
37.6%
37.6%
15.9%
15.9%
29.3%
29.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
41.5%
41.5%
4.2%
4.2%
15.1%
15.1%
39.2%
39.2%
0.0%
0.0%
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
2.3%
2.3%
16.8%
16.8%
13.8%
13.8%
35.7%
35.7%
29.1%
29.1%
2.2%
2.2%
0% 100.0%
% of Homes