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 586, 297 total housing units (homes and apartments), and a median house value of $310,497, Hammondsport 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 Hammondsport, accounting for 71.20% of the village's housing units. Other types of housing that are prevalent in Hammondsport include duplexes, homes converted to apartments or other small apartment buildings ( 16.75%), large apartment complexes or high rise apartments ( 11.26%).
Dwellings in Hammondsport tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 50.26% of the homes in Hammondsport have two or fewer bedrooms.
The housing in Hammondsport was primarily built before 1939 ( 82.20%), making the housing stock in Hammondsport some of the oldest overall in America, although there is a range of ages of homes in Hammondsport. The next most important housing age is between 1940-1969 ( 10.47%), followed by between 2000 and later ( 3.93%). There's also some housing in Hammondsport built between 1970-1999 ( 3.40%).
Vacant housing appears to be an issue in Hammondsport. Fully 22.25% of the housing stock is classified as vacant. Left unchecked, vacant Hammondsport homes and apartments can be a drag on the real estate market, holding Hammondsport 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.
In the last 10 years, Hammondsport has experienced some of the highest home appreciation rates of any community in the nation. Hammondsport real estate appreciated 122.70% over the last ten years, which is an average annual home appreciation rate of 8.34%, putting Hammondsport in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Hammondsport definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Hammondsport that despite a nationwide downturn in the housing market, Hammondsport real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Hammondsport appreciation rates continue to be some of the highest in America, at 10.39%, which is higher than appreciation rates in 86.19% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Hammondsport. Hammondsport appreciation rates in the latest quarter were at 4.83%, which equates to an annual appreciation rate of 20.75%.
Importantly, this makes Hammondsport 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 Hammondsport's latest annual appreciation rate is lower than 50% of the other cities and towns in New York.
$310,497
for New york
for nation
297
$1,150 / per month